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This article uses the case of the Deutsch-Asiatische Bank and its liquidation during the First World War to examine the challenges faced by German businesses during the war in China and China's involvement in Allied economic warfare. This case suggests the detrimental effect that political crises and global shifts of power had on foreign businesses in modern China's globalized treaty port economy. It also reveals China's role in the global economic warfare of the Allies, showing that China first resisted Allied demands for a full liquidation of the German bank but eventually acquiesced to Allied pressure and handed control over the liquidation to the Allies. As a consequence, China ended up violating the very international law it had put so much value on when entering the war. Keywords: China, WWI, Deutsch-Asiatische Bank, liquidation, economic warfare, international law, foreign banks, Hongkong and Shanghai Banking Corporation

ABSTRACT: This article uses the case of the Deutsch-Asiatische Bank and its liquidation during the First World War to examine the challenges faced by German businesses during the war in China and China's involvement in Allied economic warfare. This case suggests the detrimental effect that political crises and global shifts of power had on foreign businesses in modern China's globalized treaty port economy. It also reveals China's role in the global economic warfare of the Allies, showing that China first resisted Allied demands for a full liquidation of the German bank but eventually acquiesced to Allied pressure and handed control over the liquidation to the Allies. As a consequence, China ended up violating the very international law it had put so much value on when entering the war.

The Board of Liquidation of the League of Nations closed its accounts as of July 31, 1947, completing the dissolution of the institution established by the Covenant which had been effect since January 10, 1920. The dissolution itself—the cessation of all activities except for liquidation purposes—had been in effect since April 19, 1946, the day following the adjournment of the 21st ordinary session of the Assembly.

Der Beitrag befasst sich mit der bereits in den achtziger Jahren aufgestellten "Liquidierung der Kindheit"-These. Ziel der vorliegenden Analyse ist es zu verdeutlichen, dass die Erfahrungen, mit denen Kinder im heutigen Europa aufwachsen, nicht mehr der traditionellen Konzeption von Kindheit entsprechen. Besonders am Beispiel der Kinderarbeit wird aufgezeigt, dass es eine vergessene oder veränderte Realität gibt, die nicht in das bisherige Konzept von Kindheit passt. Schularbeit, Haushaltsarbeit, nebenschulisches Jobben und vielerlei andere Aktivitäten werden in den Gesamtzusammenhang der gegenwärtigen Umbrüche gesellschaftlicher Organisation von Arbeit gestellt. Wo werden herkömmliche Trennungen von Kinder- und Erwachsenenaktivitäten, von Spielen, Lernen und Arbeiten unscharf? Neue Formen der Kinderarbeit als "hidden work" in Bereichen der Kultur, der Information, der Medien und des Konsums sind entstanden. Die Konflikte, in die diese Ordnung des Generationenverhältnisses zunehmend kommt, werden nicht zuletzt an den Aktivitäten der Kinder erkennbar. (ICH).

High public debt often produces the drama of default and restructuring. But debt is alsoreduced through financial repression, a tax on bondholders and savers via negative or belowmarketreal interest rates. After WWII, capital controls and regulatory restrictions created acaptive audience for government debt, limiting tax-base erosion. Financial repression is mostsuccessful in liquidating debt when accompanied by inflation. For the advanced economies,real interest rates were negative ½ of the time during 1945-1980. Average annual interestexpense savings for a 12-country sample range from about