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Confucianism In Late Imperial China

Decent Essays

Confucianism had been the guiding ideology among various social classes especially for people of central plain origin, and imposed profound influences on numerous aspects of Chinese lifeways ranging from ruling methodology to family operation, formulating the distinct characteristics of Chinese economic and political system. Prominent principles of Chinese statecraft stemmed from traditional Classics which advocated self-sufficiency and limited commercial activities, and pushed to form a relatively closed market system. The statecraft of late imperial China aimed to achieve “the Confucian good life”, referring to each member in the society living in accordance with Confucian values. In particular, people should conduct exchange of good for …show more content…

During the late imperial period, commercial development including market expansion and interregional trade reached the level of complexity which called for greater state regulation. However, government officials of China’s political economy were trained by Confucian ideals which had always looked down upon merchants and commercial law, and those ideals lend ideological support to the state’s laissez-faire policy on commerce (Zelin 2013, 770-787). With the imperial court’s attitude of nonintervention in economic issues, problems arose as multiple monetary standards and units of account for business transactions existed in different regions. As described by Fergusons in his discussion of the transaction between a foreign buyer and a local merchant, payment was exchanged into different currencies at least five times before a single purchase was made (Zelin 2013, 788). Due to the government’s tardiness in market regulation and commercial law enactment, the complicated and tedious transaction process significantly decreased efficiency in interregional and foreign trade. Limited amount of trade also limited Chinese merchants’ exposure to modern business operation patterns brought by Western merchants, and it narrowed down the possibilities which could have led late imperial China to a commercially modernized

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