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Full referenceGao, James Z., “Myth, Memory, and Rice History in Shanghai, 1949-1950”, (2004)
TypeJournal article
Author(s)Gao, James Z.
Title“Myth, Memory, and Rice History in Shanghai, 1949-1950”,
Year2004
JournalChinese Historical Review,
Volume11
Number1
Start page57
End page86
LanguageEnglish
SubjectHistory
Keywordseconomy; social; food; rice;
AbstractAfter the Chinese Communists occupied Shanghai in 1949, rice prices, which had been in decline and were at their lowest levels, surged on four occasions. The first occurred when the Communists introduced a new currency, the renminbi. Rising cloth prices led to a second surge, which the Communists stabilized by passing regulations. When the Communists moved into central China, the demand for cloth and rice led to shortages and higher prices again in Shanghai. The Communists blamed greedy merchants, but higher prices resulted from inflation created by the government itself. When prices surged early in 1950 as a result of an unpredicted drop in rice yields, again the state managed to control prices. Nevertheless, the upward pressure on rice prices resulted not from the actions of counterrevolutionaries but because the Communists issued too much paper currency.
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