The Early Modern Economy of the Yangzi Delta in a New Perspective

Abstract

China has experienced spectacular economic growth during the past three decades and seen some parts of the country, in particular the Yangzi Delta, swiftly converging with the developed countries in the level of economic development. This unprecedented growth has been seen as the greatest economic miracle in world history. This miracle is based on the economic performance of the Yangzi Delta in the long run of centuries. It is impossible to achieve a better understanding of the economic miracle of the delta without a better understanding of the basis created by the delta’s economy during its long historical development, in particular in the centuries before the modern West arrived in the mid- nineteenth century. To achieve this objective, we must break free of the West-centric straightjacket and study China’s early modern economy from a new perspective, which will be crucial to improve our knowledge of Chinese economic performance prior to the arrival of the West.