The New Deal in the late Qing Dynasty was a top-down reform movement of a capitalist nature that lacked the leadership and active participation of the national bourgeoisie.

Historical effects of the New Deal:

(1) Negative effects

(1) Increased the burden on the people, making the lives of China’s working people even more impoverished, and social The contradiction is even more acute. In order to implement the New Deal, the Qing government had to find ways to raise funds and had to allocate funds downwards. This was the main source of New Deal funds in the late Qing Dynasty.

(2) Yuan Shikai and the rise of the Beiyang warlords. During the "New Deal" period, the Qing government ordered Yuan Shikai to train the Beijing Banner Army in 1902. By the end of 1906, the armies of the six towns in Beiyang were in his hands. Therefore, in the late Qing Dynasty, Yuan Shikai became famous and could influence the government.

(3) Certain economic policies objectively create convenient conditions for imperialism to export capital.

(2) Positive effects

(1) Economically, it promotes the further development of China’s national capitalism.

(2) Politically, the political institutions of the late Qing Dynasty began to transform into modern political institutions.

(3) Militaryly, at the end of the Qing Dynasty, the Chinese army’s military system and weapons began to modernize.

(4) In terms of ideology and culture, Western ideas have been further spread, and modern education has been greatly developed.

Extended information:

Historical reasons for the failure of the New Deal in the late Qing Dynasty:

The rulers in the New Deal in the late Qing Dynasty were unwilling to give up the "laws of their ancestors" and were unwilling to give up With vested interests, they are unwilling to give up the privileges they enjoy, the power in their hands, and the old system that has been sheltered.

Only because of these "unwillingness to give up" did the reforms in the late Qing Dynasty fail to proceed from justice and start from fairness. This caused the New Deal in the late Qing Dynasty to have twists and turns and finally stalled; it made the reforms become a name in name only. It was only through window-dressing that the "fake reforms" and "cabinet that changed the soup without changing the medicine" that people criticized appeared, and that caused the deepening reform of the New Deal in the late Qing Dynasty to miss the best opportunity.

From the comparison between the tragedy of the New Deal in the late Qing Dynasty and the predicament of China today after thirty years of reform, we can see that the most important "similar problem" is the reform of the political system: the collapse of the Manchu Qing Dynasty occurred after the political reform. Hypocritically, China today is troubled by lagging political system reform.

People's Daily Online - Also talking about the failure of the New Deal in the late Qing Dynasty: How the economic myth of authoritarianism was shattered (3)

Baidu Encyclopedia - The New Deal in the late Qing Dynasty