The Chinese business groups based on the monopolized market and the long-run games of social networks, while the Western business groups based on the short-run exchange to maximize their profits. Therefore, the Western business groups usually felt hard to penetrate into the local markets even after the opening of the treaty ports. At last, they still had to deal with the Chinese competitors as the brokers of their business.
But this is not the end of the story. The author finds that the foreigners tried to empower the English-speaking Chinese businessmen and their associations by negotiations with the Qing empire. Also, the English-speaking Chinese learned the skills of trade from their foreign partners in a short period. Thus, the political protests such as railway rights-recovery movements did not aim at not the foreigners, but at the English-speaking Chinese businessmen in Shanghai....Continua