For decades I was under the false impression Shanghai and other British or British influenced settlements in China were rightful parts of the British Empire. In fact the Treaty Ports allowed independent-minded settlers to establish themselves in China and provide the sole narrative of Chinese society for almost a century. From 1842 until after World War I, British government came to their rescue when needed but after the 1925 events in Shanghai, Britain preferred to reassert its authority on Chinese relations and gradually bypass the British communities in China. Business, diplomacy, christian missions are studied in their evolution from Old China to post-World War II and beyond. Unwittingly the authors created a key read on the history of globalization because it shows the clear transition from the First Globalization (1870-1914) to the Second Globalization (1970-today) with a passage from settler globalization to multinational corporate based globalization. In other parts of the World this transformation from Colonial Imperialism to Post-Modern Imperialism is rather blurred.