“History doesn’t repeat itself, but it does rhyme.”
— Mark Twain

China in 1946 – Hyperinflation and Living Costs Spiral – The Menu at the Hotel Imperial, Tientsin

Posted: December 3rd, 2018 | No Comments »

China’s inflation rate went through the roof in 1946 and the Chinese $ vs US$ exchange rate had to through something of a revision! For a while in early 1946 China’s foreign exchange rate was maintained at CN$20 to one US$. It was not until March, 1946, that the exchange rate was revised and raised to 2,020 to one, and again to 3,350 to one in August of the same year. Here’s a stark representation of living costs in Tianjin in June 1946….

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