Key Takeaways
1. The Sassoon and Kadoorie dynasties shaped modern China through trade and innovation
"Silver and gold, silks, gums and spices, opium and cotton, wool and wheat—whatever moves over sea or land feels the hand or bears the mark of Sassoon & Co."
Pioneering global trade. The Sassoon and Kadoorie families, originally from Baghdad, established vast trading networks across Asia in the 19th century. They introduced modern business practices, including:
- Standardized accounting and communication systems
- Innovative financing and credit arrangements
- Strategic use of new technologies like steamships and telegraphs
Transforming Shanghai. These families played a crucial role in Shanghai's development:
- Invested in infrastructure, including electricity and public transport
- Built iconic buildings like the Cathay Hotel and Marble Hall
- Attracted international businesses and capital to the city
Their influence extended beyond commerce, shaping China's engagement with the West and laying the groundwork for its future economic growth.
2. Opium trade fueled the rise and fall of the Sassoon empire in China
"Behind every great fortune lies a crime."
Exploitative beginnings. The Sassoons built their initial wealth through the opium trade:
- Controlled up to 70% of the opium market in China by the 1870s
- Outmaneuvered established British firms like Jardine, Matheson & Co.
- Utilized innovative business tactics and family networks
Devastating consequences. The opium trade had severe impacts on China:
- Widespread addiction affecting up to 10% of the population
- Economic drain as silver flowed out of the country
- Fueled conflicts leading to the Opium Wars
Legacy and transformation. While the opium trade provided immense wealth, it also:
- Created lasting resentment against foreign influence in China
- Forced the Sassoons to diversify into real estate and other industries
- Ultimately contributed to the fall of their empire as China reasserted control
3. Shanghai emerged as a global metropolis under foreign influence
"There never was and never will be another city like Shanghai between the two wars."
Rapid modernization. Shanghai transformed from a small trading port to a world-class city:
- Advanced infrastructure: electricity, trams, modern buildings
- Thriving business environment with low taxes and regulations
- Cultural melting pot attracting people from around the world
Center of innovation. The city became a hotbed for new ideas and industries:
- Chinese entrepreneurs learned from and competed with foreign businesses
- Flourishing arts scene, including cinema and literature
- Political movements, including early Communist Party meetings
Stark contrasts. Shanghai's growth also highlighted deep inequalities:
- Luxurious lifestyles of foreign elites vs. poverty in Chinese neighborhoods
- Political tensions between colonial powers and growing Chinese nationalism
- Seeds of future conflicts as resentment against foreign privilege grew
4. The Kadoories adapted to political changes, preserving their fortune and influence
"Hong Kong is like a rubber ball. The more it drops, the more it bounces back."
Strategic flexibility. The Kadoories navigated complex political landscapes:
- Shifted investments from Shanghai to Hong Kong as communism rose in China
- Maintained relationships with both British colonial and Chinese communist officials
- Diversified businesses across sectors like electricity, hotels, and real estate
Long-term vision. Key decisions ensured the family's continued relevance:
- Invested in infrastructure projects benefiting both business and local communities
- Supported refugee relief efforts, building goodwill with diverse groups
- Groomed successive generations to lead the family enterprise
Balancing act. The Kadoories walked a fine line between:
- Profiting from colonial systems while advocating for local development
- Maintaining British connections while cultivating Chinese partnerships
- Preserving family wealth while contributing to social causes
5. Jewish refugees found sanctuary in Shanghai during World War II
"You are no longer Jews but citizens of the world. All Shanghai welcomes you."
Open port policy. Shanghai became a lifeline for Jews fleeing Nazi persecution:
- No visa requirements allowed easy entry for refugees
- Around 18,000 Jewish refugees settled in Shanghai during the war
- Sassoon and Kadoorie families played crucial roles in supporting refugees
Community support. Despite challenges, a vibrant refugee community emerged:
- Established schools, businesses, and cultural institutions
- The Kadoorie School educated thousands of refugee children
- Economic contributions of refugees benefited the wider Shanghai economy
Complex dynamics. The refugee situation intersected with broader political issues:
- Japanese occupation led to the creation of a "designated area" for stateless refugees
- Tensions with local Chinese population over resources and opportunities
- Legacy of Shanghai as a safe haven influenced post-war Jewish-Chinese relations
6. Victor Sassoon's extravagance and business acumen defined pre-war Shanghai
"Victor always made the wrong decision at the wrong time in the wrong place."
Iconic presence. Victor Sassoon became synonymous with Shanghai's glamour:
- Built the famous Cathay Hotel, setting new standards for luxury
- Hosted lavish parties attracting international celebrities and dignitaries
- Amassed a vast real estate empire that shaped Shanghai's skyline
Business innovations. Despite his playboy image, Victor was a shrewd businessman:
- Diversified investments across multiple industries
- Leveraged political connections with both Chinese and Western officials
- Pioneered modern marketing techniques to promote his ventures
Controversial legacy. Victor's impact on Shanghai was complex:
- Created jobs and attracted investment, but also symbolized foreign privilege
- Supported Jewish refugees, while profiting from systemic inequalities
- His eventual exile marked the end of an era for colonial Shanghai
7. China's transformation from colonialism to communism reshaped the fortunes of foreign dynasties
"I gave up India and China gave me up."
Political upheaval. The rise of communism in China dramatically altered the landscape:
- Nationalist government's instability and corruption paved the way for communist victory
- Foreign businesses and properties were gradually seized or nationalized
- Many long-time foreign residents, including the Sassoons, fled China
Adapting to change. The Kadoories navigated the transition more successfully:
- Shifted focus to Hong Kong, maintaining a foothold in the region
- Cultivated relationships with new Chinese leadership
- Invested in projects aligned with China's modernization goals
Long-term impact. The communist victory reshaped China's relationship with foreign capital:
- End of colonial-era privileges for foreign businesses
- Decades of isolation followed by gradual reopening to foreign investment
- Legacy of past exploitation influenced modern Chinese economic policies
8. The legacy of the Sassoons and Kadoories continues to impact modern China
"Your family has always been a friend to China."
Enduring influence. Despite political changes, these families left lasting marks:
- Architectural heritage: Iconic buildings like the Peace Hotel (former Cathay Hotel)
- Business practices: Pioneering approaches adopted by Chinese firms
- Cultural exchange: Fostered early East-West connections in commerce and society
Evolving perceptions. China's view of these dynasties has shifted over time:
- Initially seen as symbols of foreign exploitation
- Gradually recognized for contributions to China's modernization
- Now often celebrated as part of Shanghai's cosmopolitan history
Modern relevance. The Sassoon and Kadoorie legacies offer insights for contemporary issues:
- Navigating business in politically complex environments
- Balancing profit motives with social responsibility
- Managing family enterprises across generations and cultures
Their stories continue to fascinate, offering lessons on resilience, adaptation, and the complex interplay between business, politics, and society in a globalizing world.
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FAQ
What's The Last Kings of Shanghai about?
- Historical Context: The book explores the rise of the Sassoon and Kadoorie families, two Jewish dynasties that significantly influenced modern Shanghai and China. It traces their journey from Baghdad to Shanghai, highlighting their business ventures and social dynamics.
- Cultural Impact: It examines how these families shaped Shanghai's economic landscape, particularly through the opium trade, and their contributions to the city's modernization. The narrative intertwines their personal stories with major historical events like the Opium Wars and the rise of communism.
- Legacy and Tensions: The book delves into the tensions between foreign powers and the Chinese populace, illustrating the complexities of colonialism and the lasting impact of these families on China's history.
Why should I read The Last Kings of Shanghai?
- Rich Historical Narrative: Jonathan Kaufman provides a compelling account of the Sassoon and Kadoorie families, making it an engaging read for those interested in history, business, and cultural studies.
- Insight into Colonialism: The book offers a nuanced perspective on colonialism, exploring the moral dilemmas faced by the families as they navigated their roles in a foreign land.
- Understanding Modern China: By examining the historical roots of Shanghai’s development, readers gain insights into contemporary China and its relationship with foreign powers.
What are the key takeaways of The Last Kings of Shanghai?
- Duality of Success: The Sassoons and Kadoories achieved immense wealth and influence while contributing to the suffering of the Chinese people through the opium trade, raising ethical questions about business practices.
- Cultural Integration: The book emphasizes the cultural integration and tensions between the Jewish families and the Chinese populace, showcasing how these interactions shaped Shanghai’s identity.
- Historical Consequences: It highlights the long-term consequences of the families' actions, particularly in relation to China’s political landscape and its interactions with the West.
What are the best quotes from The Last Kings of Shanghai and what do they mean?
- “The gifts Heaven bestows are not by chance.”: This quote underscores the theme of agency, suggesting that opportunities and fortunes result from actions and decisions rather than mere luck.
- “The situation now is like a fire in a paper bag and it is going to burn through.”: This metaphor illustrates the precariousness of China's political situation during the rise of communism, conveying urgency and impending crisis.
- “I think that we should be able to gradually work up to taking care of 3 to 4 thousand people.”: Reflects Victor Sassoon’s optimism about managing the influx of Jewish refugees during the Nazi regime, highlighting the challenges faced by the wealthy in times of crisis.
Who were the Sassoon and Kadoorie families?
- Sassoon Family Background: Originating from Baghdad, the Sassoons were known for their opulent lifestyle and influence in the opium trade, with David Sassoon establishing a vast business empire across Asia.
- Kadoorie Family Background: Also of Baghdadi Jewish descent, the Kadoories rose to prominence through business ventures in Hong Kong and Shanghai, with Elly Kadoorie becoming a key figure in modern Hong Kong's development.
- Rivalry and Relationships: The book details the rivalry between the families and their complex relationships with each other and the Chinese community, reflecting themes of ambition and cultural identity.
How did the opium trade shape the fortunes of the Sassoons?
- Economic Power: The opium trade was a major source of wealth for the Sassoons, enabling them to establish a vast business empire by capitalizing on the demand for opium in China.
- Colonial Dynamics: The trade exemplified the exploitative nature of colonialism, as the Sassoons profited at the expense of the Chinese populace, raising ethical questions about foreign business responsibilities.
- Legacy of Influence: The wealth from the opium trade allowed the Sassoons to influence political and social structures in Shanghai, shaping the city’s development and intertwining their legacy with the history of opium.
What role did the Kadoories play in Shanghai’s development?
- Business Ventures: The Kadoories were instrumental in developing industries like electricity and real estate in Shanghai, with Elly Kadoorie’s partnerships helping modernize the city.
- Philanthropic Efforts: They engaged in philanthropy, supporting education and healthcare initiatives, setting them apart from other foreign businessmen.
- Cultural Integration: Elly Kadoorie’s relationships with Chinese leaders and understanding of local culture allowed effective navigation of Shanghai’s society, contributing to their lasting influence.
How did the political landscape in China affect the Sassoons and Kadoories?
- Shifting Alliances: The rise of communism forced both families to adapt their business strategies, navigating complexities with the Nationalist government amid growing anti-foreign sentiment.
- Economic Challenges: Political instability impacted their businesses, challenging their profitability and influence, with the Sassoons particularly struggling to retain power.
- Legacy of Resilience: Despite challenges, both families demonstrated resilience and adaptability, maintaining their legacies in a rapidly changing environment.
What was the impact of World War II on the Sassoons and Kadoories?
- Displacement and Loss: World War II brought significant challenges, including displacement and property loss, with the Sassoons fleeing to London and the Kadoories facing pressure in Hong Kong.
- Refugee Crisis: The war exacerbated the refugee crisis, with both families playing roles in assisting Jewish refugees, highlighting their philanthropic efforts during crises.
- Post-War Rebuilding: After the war, both families navigated the new political landscape in China, with the rise of communism leading to further challenges and shaping their legacies.
How did the Sassoons and Kadoories influence modern China?
- Economic Foundations: Their business practices and innovations laid the groundwork for modern capitalism in China, contributing to industries like textiles, electricity, and real estate.
- Cultural Exchange: Their interactions with Chinese society facilitated cultural exchange, influencing Shanghai’s development as a cosmopolitan city and blending Eastern and Western cultures.
- Legacy of Philanthropy: Their philanthropic efforts set a precedent for future business leaders in China, with their commitment to social responsibility resonating in contemporary society.
How did the Kadoorie family respond to the refugee crisis in Shanghai?
- Establishment of Schools: They founded the Kadoorie School to provide education and support for Jewish refugee children, fostering a sense of community.
- Financial Support: The family provided financial assistance to help refugees secure housing and necessities, crucial in alleviating hardships.
- Advocacy and Protection: They used their influence to advocate for the rights and safety of Jewish refugees, negotiating with local authorities for humane treatment.
What lessons can be learned from the experiences of the Sassoon and Kadoorie families?
- Resilience in Adversity: Their ability to adapt and support communities during crises highlights the importance of resilience and solidarity.
- Navigating Complex Identities: Their experiences illustrate challenges in maintaining cultural identity while engaging with different societies, prompting reflection on belonging and history’s impact.
- Moral Responsibility: The book raises questions about ethical responsibilities of those in power, encouraging consideration of wealth and influence on social justice and humanitarian efforts.
Review Summary
The Last Kings of Shanghai receives mostly positive reviews for its fascinating account of two Jewish families who shaped modern China. Readers praise Kaufman's engaging writing style and the book's insights into Shanghai's history. Some criticize the lack of critical perspective on the families' exploitative practices. The book is lauded for shedding light on lesser-known aspects of Chinese and Jewish history, though a few reviewers found the narrative structure challenging to follow. Overall, it's recommended for those interested in Asian economic history and Jewish diaspora stories.
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