Overview

This book documents the financial transaction of U.S. gold in Taiwan. This gold played a pivotal role in enabling a democratic and free China to thrive in Taiwan, defying all odds.A staggering 6.28 million ounces of U.S. gold was delivered to China. The primary objective was to employ this gold to stabilize China's national currency during WWII. In an ill-fated attempt to combat inflation, 4.21 million ounces of this gold were sold off between 1944 and 1947. About two million ounces of U.S. gold remained in the Nationalist Treasury by 1949, nearly half the total 4 million ounces. Generalissimo Chiang Kai-shek, the Nationalist leader, wisely utilized this limited gold reserve to support a modest Nationalist force to resist Mao in the mainland and Formosa's economy; this crucial period of stability in Taiwan was critical to avert communist invasion before the Korean War.The book explores and analyses these events, and will be of particular interest to students and researchers of history.

Full Product Details

9781036404642

Table of Contents

Reviews

Author Information

Wu Sing-yung (Wu Xingyong) obtained a PhD in experimental pathology from the University of Washington, USA, in 1969, and a medical doctor's degree at Johns Hopkins University, USA, in 1972. In 1990, he was promoted to Full Professor in the Radiological Sciences and Medicine Departments of the University of California's (Irvine) College of Medicine, USA. His research and clinical interests include thyroid hormone metabolism and managing thyroid diseases. Dr Wu also has a keen interest in and affinity for modern Chinese history, stemming from his father's role, as the Chief Financial General of the Nationalist Army, in establishing Taiwan as Free China and his own experience as a child on the mainland (and later in Taiwan). He has authored and edited six books tracing the facts surrounding the American gold shipped from the Shanghai National Vault to Taiwan from 1948 to 1949 during the Chinese Civil War.

Tab Content 6

Customer Reviews

Recent Reviews

Countries Available