Comparing economic change in Britain and China from 1760 to 1914

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1. Introduction

The period during 1760 to 1914 was quite a crucial and meaningful age for the global economy. For most European countries, the industrial revolution completely changed the old pattern of economic development, which has been lasted for thousands of years, into a modern one and boosted the economic growth significantly. For the rest of the world, their conditions were distinct. Some countries changed and grew up in the period such as America and Japan, while others still kept the old pattern so that slightly developed or even regressed, for instance, China.

The states in different nations played variety roles in the economic change; some facilitated the development while others hindered the forward processes. This essay will select Britain controlled by Hanoverian government at that time, which was the first industrial country world wide, and, in stark contrast, China which used to be a dominant economy but was left by the rapid advancing world during the Qing dynasty, then comparing the roles of their states in economic change.

The outline of the essay is as follow: Section 2 contrasts the fiscal policies in influencing economy. Section 3 compares the two tapes of commercial regulations and how they