Question

what was the effect of hyperinflation on china and the nationalist leadership? what was the result of the civil war in 1949?

Answer 1

The war caused millions of casualties, collapsed the economy through hyperinflation and corruption, and displaced millions of refugees. Life during the Civil War was severely impacted by economic problems including hyperinflation, mass unemployment, inadequate reconstruction of industry and large numbers of refugees. Hyperinflation [during the Chinese Civil War] undermined everyday lives and ruined tens of millions. Hampered by a poor taxation base, increased military spending and widespread corruption, the Nationalist government’s deficit skyrocketed.