Legal Tales | Centuries ahead of Wall Street: how China’s Song dynasty pioneered global fiat currency

    Legal Tales | Centuries ahead of Wall Street: how China’s Song dynasty pioneered global fiat currency

    At least gold glitters. Long before the first paper banknotes fluttered through the financial houses of Europe, the bustling markets of 11th century China birthed an unprecedented financial “innovation”: the use of paper currency. In the 1020s, burdened by the shortage of bronze coins and a rapidly expanding economy, merchants in the southwestern province of…

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    Western framework ‘cannot explain’ China, academics say in call for context

    Western framework ‘cannot explain’ China, academics say in call for context

    Western theoretical frameworks are often ill-suited for China studies, according to Chinese academics who called instead for research that was grounded in the country’s specific context. The case for a tailored approach, bolstered by field research to correct biases and enable deeper understanding, was made at this week’s World Conference on China Studies in Shanghai,…

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