By EconMatters The CPC (Communist Party of China) was founded on July 1, 1921 in Shanghai with a large working class support base. After the death of Dr. Sun Yat-sen(孫中山)–China’s Founding Father (recognized by both Beijing and Taipei)–in 1925, a lengthy civil war soon ensued between the CPC and the ruling political party at the time–the Kuomintang (KMT or 國民黨). In between the Second Sino Japanese War and WWII, the CPC eventually seized control of the entire mainland China in 1949. The KMT, led by Chiang Kai-shek (蔣介石), who was a close ally of…

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