What Banks Financed Mao Zedong and Red Guard?

Answer 1

Mao Zedong and the Red Guard were primarily supported by the Chinese Communist Party (CCP) and its grassroots fundraising efforts rather than by traditional banks. During the Chinese Civil War, the CCP received financial backing from the Soviet Union and other communist movements, which provided resources for their revolutionary activities. Additionally, the CCP utilized local resources, confiscated assets from landlords, and mobilized support from the peasantry to fund their initiatives. Thus, conventional banking institutions played a minimal role in financing Mao and the Red Guard.