ABSTRACT
The development of Chinese industry and the effect of rapid growth of foreign trade in the relations of China with the rest of the world. This chapter considers the consequent changes in China's social structure and in the common life of her people, and to estimate the effect of these changes in her future development. The ancient social system may be taken as an illustration of the way in which Chinese social organization is based on family solidarity, with its ultimate sanction in the time-honoured custom of ancestor-worship. Another ancient part of Chinese social life is the system of guilds or co-operative associations. The chapter proposes that the profits of the industrial development should go first to pay the interest and principal of foreign capital invested in it; second to give high wages to labour; and third to improve or extend the machinery of production.
