U.S. immigration policy toward the People's Republic of China bloc. In February 1950, after months of hard bargaining, China and the Soviet Union signed the Treaty of Friendship, Alliance, and Mutual Assistance, valid until 1980. Many Americans were at a loss of what to do in regards to foreign policy concerning mainland China. The debate which took place in the United States as a result of the removal of the Kuomintang and Chiang Kai-shek to the island of Taiwan centered on Republican charges that the Democrats "lost" China. "Without question, the critics had by early 1949 convinced many Americans that Truman was, shockingly, abandoning China, China being equivalent with
Central Bank of the Republic of China (Taiwan) China. Following the success of the Northern Expedition, the Central Bank took over the role of central bank for China from the Bank of China in 1928, with its headquarters in Shanghai. Before 1949, it was one of China's "Big Four" national banks, along with the Bank of China, Bank of Communications, and Farmers Bank of China. After the loss of mainland China in the Chinese Civil War by the Kuomintang (KMT) and its subsequent retreat to Taiwan in December 1949, the Central Bank of China also moved along with the government to Taiwan. Until it was re-established as central