In 1901, the Boxer Protocol imposed a staggering debt on China to end a rebellion
After a violent uprising against foreign influence, the Qing dynasty was forced to sign a devastating peace treaty that imposed a massive financial penalty and permanently weakened the Chinese empire.
On September 7, 1901, the Boxer Protocol officially ended the Boxer Rebellion, a violent anti-foreign and anti-Christian uprising in China. The treaty was a humiliating blow to the Qing dynasty, requiring them to pay 450 million taels of silver as reparations to eleven different nations. This staggering sum was roughly equivalent to a year of the empire's total tax revenue and took nearly 40 years to pay off.
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