The American China Development Company, founded in 1895 by J.P. Morgan and Andrew Carnegie, sought to provide the American capital and management that would generate a rapid industrialization of China.
In 1899, a movement of Chinese nationalists calling themselves the Society of Right and Harmonious Fists started a violent revolt in China, referred to by Westerners as the Boxer Rebellion, against foreign influence in trade, politics, religion, and technology.