The Foreign Stake in China

FOR some centuries foreigners have been gradually expanding their trade with China and increasing their investments there. They have built western cities in that eastern land, they have constructed railroads, founded banks, placed their steamships upon the interior rivers, and established strong commercial companies. The rivalries of foreigners during the past hundred years to obtain economic privileges, concessions and spheres of influence have led to at least five wars and constitute a substantial chapter in the story of modern diplomacy. The conviction has been widespread, and still exists, that China offers rich rewards to traders and investors of other lands.