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The economic history of the 20th century was a history of crisis shifting. In the 1920s and 1930s, China could have stayed away from a global economic downturn, but the storms of crisis still found their way through the window of Japan. Issues such as overcapacity, financial strain, failed currency reforms, and international trade imbalances burdened Japan's economy and needed to be shifted elsewhere. China became the recipient of excess global production capacity. Even heavy goods like cement, unsuitable for international trade, faced intense dumping. Japanese companies were willing to go "bankrupt for the country". They tries to strangle Chinese national cement enterprises like Xin Xin and Hua Shang with low-priced cement through currency devaluation, shipping subsidies, and preferential tariffs.

This book is an economic history monograph focusing on commodity dumping, showcasing a national financial defence battle staged by Chinese national cement companies, the Nanjing Nationalist Government, and various social groups in the face of desperate circumstances.