Chinese and Indian Merchants in Modern Asia studies overseas Chinese and Indian merchants and their impacts on the emerging global economy from the nineteenth to twentieth centuries, focusing on their networking and interactions with the empires and the states.

This book brings together specialist knowledge on the many important trading and entrepreneurial groups that have dominated the Asian scene over the past centuries. In a series of crisp, relatively short chapters, it traces the long-term history of these groups from the medieval past to the present.

A history of capitalism in nineteenth‑ and twentieth‑century China and India that explores the competition between their tea industries “Tea War is not only a detailed comparative history of the transformation of tea production in the 19th and early 20th centuries, but it also intervenes in larger debates about the nature of capitalism, global modernity, and global history.”— Alexander F. Day, Occidental College Tea remains the world’s most popular commercial drink today, and at the turn of the twentieth century, it represented the largest export industry of both China and colonial India. In analyzing the global competition between Chinese and Indian tea, Andrew B. Liu challenges past economic histories premised on the technical “divergence” between the West and the Rest, arguing instead that seemingly traditional technologies and practices were central to modern capital accumulation across Asia. He shows how competitive pressures compelled Chinese merchants to adopt abstract industrial conceptions of time, while colonial planters in India pushed for labor indenture laws to support factory-style tea plantations. Characterizations of China and India as premodern backwaters, he explains, were themselves the historical result of new notions of political economy adopted by Chinese and Indian nationalists, who discovered that these abstract ideas corresponded to concrete social changes in their local surroundings. Together, these stories point toward a more flexible and globally oriented conceptualization of the history of capitalism in China and India.

In this remarkable 1994 work of comparative economic history, Stephen Dale studies the activities and economic significance of the Indian mercantile communities which traded in Iran, Central Asia and Russia in the seventeenth and eighteenth centuries. The author uses Russian sources, hitherto largely ignored, to show that these merchants represented part of the hegemonic trade diaspora of the Indian world economy, thus challenging the conventional interpretation of world economic history that European merchants overwhelmed their Asian counterparts in the early modern era. The book not only demonstrates the vitality of Indian mercantile capitalism, but also offers a unique insight into the social characteristics of an Indian expatriate trading community in the Volga-Caspian port of Astrakhan.

The history of nations is a history of haves and have-nots, and as we approach the millennium, the gap between rich and poor countries is widening. In this engrossing and important new work, eminent historian David Landes explores the complex, fascinating and often startling causes of the wealth and poverty of nations. The answers are found not only in the large forces at work in economies: geography, religion, the broad swings of politics, but also in the small surprising details. In Europe, the invention of spectacles doubled the working life of skilled craftsmen, and played a prominent role in the creation of articulated machines, and in China, the failure to adopt the clock fundamentally hindered economic development. The relief of poverty is vital to the survival of us all. As David Landes brilliantly shows, the key to future success lies in understanding the lessons the past has to teach us - lessons uniquely imparted in this groundbreaking and vital book which exemplifies narrative history at its best.

This book brings to life the world of caravan trade--constituting not only merchants, but also pilgrims, pastoralists, and mercenaries; flows not only of goods, credit and money, but also of ideas, secret intelligence and fighting power. Contrary to the view that the ages of sail and steam rendered obsolete these more 'archaic' forms of overland connectivity, Jagjeet Lally demonstrates how the annual transhumance between North India and the Central Asian steppe was critical to the production and exercise of political power into the nineteenth century. Central to this narrative is the waning of the Mughal Empire and the emergence in the mid-eighteenth century of a new Afghan kingdom, whose leaders drew their power from the financial flows and force of arms moving through the networks of caravan trade, and who thus patronised the continued traffic between India and inland Eurasia. India and the Silk Roads is a global history of a continental interior, the first to comprehensively examine the textual and material traces of caravan trade in the 'age of empires'. Lally tells a story resonating with our own times, as China's Belt and Road Initiative once again transforms life across Eurasia.

Relations between China and India underwent a dramatic transformation from Buddhist-dominated to commerce-centered exchanges in the seventh to fifteenth centuries. The unfolding of this transformation, its causes, and wider ramifications are examined in this masterful analysis of the changing patterns of the interaction between the two most important cultural spheres in Asia. Tansen Sen offers a new perspective on Sino-Indian relations during the Tang dynasty (618–907), arguing that the period is notable not only for religious and diplomatic exchanges but also for the process through which China emerged as a center of Buddhist learning, practice, and pilgrimage. Before the seventh century, the Chinese clergy—given the spatial gap between the sacred Buddhist world of India and the peripheral China—suffered from a “borderland complex.” A close look at the evolving practice of relic veneration in China (at Famen Monastery in particular), the exposition of Mount Wutai as an abode of the bodhisattva Mañjuśrī, and the propagation of the idea of Maitreya’s descent in China, however, reveals that by the eighth century China had overcome its complex and successfully established a Buddhist realm within its borders. The emergence of China as a center of Buddhism had profound implications on religious interactions between the two countries and is cited by Sen as one of the main causes for the weakening of China’s spiritual attraction toward India. At the same time, the growth of indigenous Chinese Buddhist schools and teachings retrenched the need for doctrinal input from India. A detailed examination of the failure of Buddhist translations produced during the Song dynasty (960–1279), demonstrates that these developments were responsible for the unraveling of religious bonds between the two countries and the termination of the Buddhist phase of Sino-Indian relations. Sen proposes that changes in religious interactions were paralleled by changes in commercial exchanges. For most of the first millennium, trading activities between India and China were closely connected with and sustained through the transmission of Buddhist doctrines. The eleventh and twelfth centuries, however, witnessed dramatic changes in the patterns and structure of mercantile activity between the two countries. Secular bulk and luxury goods replaced Buddhist ritual items, maritime channels replaced the overland Silk Road as the most profitable conduits of commercial exchange, and many of the merchants involved were followers of Islam rather than Buddhism. Moreover, policies to encourage foreign trade instituted by the Chinese government and the Indian kingdoms contributed to the intensification of commercial activity between the two countries and transformed the China-India trading circuit into a key segment of cross-continental commerce.

The Zheng family of merchants and militarists emerged from the tumultuous seventeenth century amid a severe economic depression, a harrowing dynastic transition from the ethnic Chinese Ming to the Manchu Qing, and the first wave of European expansion into East Asia. Under four generations of leaders over six decades, the Zheng had come to dominate trade across the China Seas. Their average annual earnings matched, and at times exceeded, those of their fiercest rivals: the Dutch East India Company. Although nominally loyal to the Ming in its doomed struggle against the Manchus, the Zheng eventually forged an autonomous territorial state based on Taiwan with the potential to encompass the family's entire economic sphere of influence. Through the story of the Zheng, Xing Hang provides a fresh perspective on the economic divergence of early modern China from western Europe, its twenty-first-century resurgence, and the meaning of a Chinese identity outside China.

From its dramatic expansion in the early nineteenth century to its decline in the late 1930s, salt production in Zigong was one of the largest and only indigenous large-scale industries in China. Madeleine Zelin's history details the novel ways in which Zigong merchants mobilized capital through financial-industrial networks and spurred growth by developing new technologies, capturing markets, and building integrated business organizations. She provides new insight into the forces and institutions that shaped Chinese economic and social development (independent of Western or Japanese influence) and challenges long-held beliefs that social structure, state extraction, the absence of modern banking, and cultural bias against business precluded industrial development in China.

Claude Markovits tells the story of two groups of Hindu merchants from the towns of Shikarpur and Hyderabad in the province of Sind. Basing his account on previously neglected archival sources, the author charts the development of these communities, from the pre-colonial period through colonial conquest and up to independence, describing how they came to control trading networks throughout the world. While the book focuses on the trade of goods, money and information from Sind to the widely dispersed locations of Kobe, Panama, Bukhara and Cairo, it also throws light on the nature of trading diasporas from South Asia in their interaction with the global economy. This is a sophisticated and accessible book, written by one of the most distinguished economic historians in the field. It will appeal to scholars of South Asia, as well as to colonial historians and to students of religion.