INCIPIENT CAPITALISM

<p>Whenever there is a discussion about Chinese traditional economy people often refer to China as having only handicraft industry and limited intercourse with foreign countries. However very few know that China was once a capitalist economy. During the period of 1368 to 1644 China saw the rise of the merchant class and incipient capitalism. In this period tradition and innovation flourished alongside each other in China in every sphere of life from art to economics. In the 16th century China was in the forefront of cultural and technological achievements. This book presents a thorough research of the contribution of Chinese merchant class from 1368 - 1644(as seldom studied or understood economic development period) which offers all the ingredients of China's development into a capitalist society.</p>