1930년대 중국의 설탕 전매와 홍콩 태고당방(太古糖房) — 대공황에서 살아남기 —

Abstract

This paper analyses the reaction of Taikoo Sugar Refinery Co.(TSR) in Hong Kong, a leading sugar supplier in modern East Asia, to the governmental sugar monopoly of China, which was the largest market for TSR. TSR has suffered from the Great Depression and division of market by the Yen block in 1930s. Since 1929, China recovered tariff autonomy to protect the domestic sugar business with a high tariff on imported sugar, and planned to build modern refining factories to substitute the imports. But high tariffs have brought widespread smuggling, and the plan of building modern refineries was initiated by the warlord regime of Chen Ji-tang in Guangdong province ahead of Nanjing central government. The building of modern sugar was motivated not only by the protection of the domestic industry but also by the intention to secure financial revenue. Therefore, along with the construction of refineries, Guangdong Provincial government adopted the sugar monopoly in its territory and Nanjing central government soon followed their suit. TSR kept close relationship with sugar monopoly in Guangdong through the Moks, a compradore family of Taikoo sugar and used Guangdong's sugar monopoly to tap into the South China market, where its products were weak. When the governmental sugar monopoly of the Nanjing central government was announced, TSR joined the opposition movement along with the Japanese sugar merchants and sugar wholesalers of Shanghai, but TSR actively sought to expand his stake through the Chinese sugar monopoly behind the scenes. At that time TSR has confronted with fierce competition with the Japanese sugar after losing Manchuria and Northen Chinese market. Thus, the collaborative plan that Guangdong produces the raw brown sugar and TSR refines it for sales in China, though first offered by Chen Ji-tang government, still remained effective before the outbreak of the 2nd Sino-Japanese War in 1937.