Sun Yat-sen's economic vision for China was rooted in the principles of the "American System of Political Economy," as championed by figures like Alexander Hamilton and Abraham Lincoln. The sources highlight Sun's admiration for Lincoln and his economic policies, particularly the emphasis on protectionism, internal improvements, and national banking.

Let's explore the key elements of Sun Yat-sen's economic thought:

• Rejection of Class Struggle: Sun Yat-sen disagreed with the Marxist idea of class struggle as the driving force of societal progress. He believed that "society progresses through the adjustment of major economic interests rather than through the clash of interests". In other words, he envisioned a system where different economic groups could collaborate and find common ground for the betterment of society.
• Emphasis on Technological Progress and Industrialization: Sun Yat-sen placed great importance on scientific and technological advancement as the primary drivers of progress and improving living standards. He argued that China should embrace modern technology to enhance productivity and overcome economic challenges. He specifically pointed to the need for industrial growth, suggesting, "if China with human labor can support four hundred millions, she should with machine power produce enough for eight hundred millions".
• Protective Tariffs for National Development: Sun Yat-sen was a staunch advocate for protective tariffs to shield and nurture domestic industries from foreign competition. He believed that this approach would allow local industries to flourish and contribute to overall national economic growth.
• Internal Improvements through Infrastructure Development: Inspired by Lincoln's focus on internal improvements, Sun Yat-sen stressed the importance of large-scale infrastructure projects, such as railroads, roads, and energy systems. He recognized that such investments were crucial for connecting different regions of China, facilitating trade, and promoting economic growth. He stated that "we must use the great power of the state and imitate the United States’ methods".
• State-Directed Capitalism with a Focus on People's Livelihood: While critical of unchecked capitalism, Sun Yat-sen wasn't opposed to private enterprise. He believed in a system where the state played an active role in guiding economic development while ensuring that the benefits reached all segments of society. This approach aimed to strike a balance between state power and individual liberty while prioritizing the well-being of the people, a core principle of the Confucian "minsheng".

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