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Moving Towards Confrontation

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Chapter Summary

Zhang Jialuo's reflection in the 1980s on Zhang Yutian, the founder of the North Sea Bank, was regretful. He acknowledged that Zhang Yutian had single-handedly established the North Sea Bank and given it its initial dynamics, but that his CCP colleagues had treated him badly and turned him into an enemy. Zhang's observation illustrated a murderous aspect of CCP politics. Zhang Yutian's plight and the subsequent dissolution of the Bank revealed the immaturity of those young local CCP members and the critical importance of outside help. At the time that beipiao became available in Yexian, there were various currencies in circulation. While exploiting the changes in Stalin's West policy and quietly adopting a confrontational policy in northern China, the Comintern warned the CCP on May 30, 1939 that the GMD's possible compro mise with the Japanese was their most serious threat.

Keywords: beipiao; CCP politics; North Sea Bank; Yexian; Zhang Yutian



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