China
In Imperial China, the pawnshop dates to about 2000 to 3000 years ago, and its business is regulated strictly. In particular, borrowers may take three years to redeem their property, and they cannot be charged a higher rate than 3% per annum.
Read more about this topic: History Of Pawnbroking
Famous quotes containing the word china:
“The roof of England fell
Great Paris tolled her bell
And China staunched her milk and wept for bread”
—Karl Shapiro (b. 1913)
“In a country where misery and want were the foundation of the social structure, famine was periodic, death from starvation common, disease pervasive, thievery normal, and graft and corruption taken for granted, the elimination of these conditions in Communist China is so striking that negative aspects of the new rule fade in relative importance.”
—Barbara Tuchman (1912–1989)
“The awakening of the people of China to the possibilities under free government is the most significant, if not the most momentous, event of our generation.”
—Woodrow Wilson (1856–1924)