The article aimed to focus on the significance of the discourse of controlled economy that had been popular over the intellectual milieu of China in 1930s. The article pursued to overview the intellectual trend in that period, in particular, investigate various moments and points for its emergence within the context of the perception of modernization.BR In 1930s the world encountered a great deal of demand for the reformation of capitalism, which was closely connected to the formation and the spread of the discourse of controlled economy in China. The contrast between the crisis of the Great Depression by the United States of America and the celebration of the Five-year plan by the Soviet Union defined the characteristic of the discourse of controlled economy in China as contemporary reaction. The foundation of the Nanjing Government strongly involved in the formation of the discourse. The political circumstances since introduction of the government and the outbreak of the Manchurian Affair further complicated the discourse. The Principle of People’s Livelihood, a prototype of the Chinese non-capitalist modernization, played a significant role for the discourse of controlled economy to broaden its ideological scope by its being converged with the discourse, and the practice of Principle itself also became expanded and deepened by it.BR The article particularly emphasized that the discourse of controlled economy enabled related discussions for a subjective pathway to the modernization of China grounded upon the periodic circumstance of 1930s. Here, I argued that the implication for the discourse of controlled economy lay in the fact that it sparked the alteration of the discourse of modernization itself. Such qualitative change in perception further conditioned the intellectual trend in 1940s along with non-capitalist scope. There are three connected clues in terms of the acceptance to the discourse of controlled economy: First, the socialist perspective in Chinese intellectual milieu was rather gradually underscored via the structure of the discourse of controlled economy. Second, there had been formed a wide agreement with mixed economy as a result of subjective acceptance of the discourse. Three, there occurred politico-intellectual divergence according to the subjects, and accelerated the political changes in 1940s. The discourse of controlled economy in China not only reveal the intellectual significance of 1930s, but it also allow us to glimpse the characteristic of the Chinese Revolution in the twentieth century. More studies on the topic are anticipated.
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