china's foreign loan and second revolution 1913

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  • Created by: Elise
  • Created on: 26-04-12 14:05

China’s Foreign Loan 1913

·       Yuan Shikai borrowed large financial loan from foreign powers

·       Yuan had to accept demands from international banking consortium (financiers from France, Britain, Russia, Japan and USA)

·       1913 consortium offered loan of $100 million, provided:

o   China pledge future tax revenues as security

o   China recognised Britain’s control of Tibet


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