“The actions of your past determine the reality of your future."
"The Boxer Protocol was signed on September 7, 1901 between the Qing Empire of China and the Eight-Nation Alliance that had provided military forces (Austria-Hungary, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States) plus Belgium, Spain and the Netherlands after China's defeat in the intervention to put down the Boxer Rebellion at the hands of the Eight-Power Expeditionary Force. It is often regarded as one of the Unequal Treaties.
Unequal treaty” is a term used in specific reference to a number of treaties imposed by Western powers, during the 19th and early 20th centuries, on Qing Dynasty China and late Tokugawa Japan. The term is also applied to treaties imposed during the same time frame on late Joseon Dynasty Korea by the post-Meiji Restoration Empire of Japan.
The treaties were often signed by these Asian states after suffering military defeat in various skirmishes or wars with the foreign powers or when there was a threat of military action by those powers.
The term "unequal treaty" did not come into use until early in the 20th century. These treaties were considered unequal in China "because they were not negotiated by nations treating each other as equals but were imposed on China after a war, and because they encroached upon China's sovereign rights ... which reduced her to semicolonial status". In many cases China was effectively forced to pay large amounts of reparations, open up ports for trade, cede or lease territories (such as Hong Kong to Great Britain and Macau to Portugal), and make various other concessions of sovereignty to foreign "spheres of influence", following military defeats.
In Western countries, it was also known as the Treaty of 1901, Peace Agreement between the Great Powers and China. The full name of the protocol is Austria-Hungary, Belgium, France, Germany, Great Britain, Italy, Japan, The Netherlands, Russia, Spain, United States and China—Final Protocol for the Settlement of the Disturbances of 1900, reflecting its nature as a diplomatic protocol rather than a peace treaty at the time of signature.
450 million taels of silver were to be paid as indemnity over a course of 39 years to the eight nations involved. Under the exchange rates at the time, 450 million taels was equal to US$ 335 million gold dollars or £67 million, approximately equal to US$6.653 billion today.
The Chinese paid the indemnity in gold on a rising scale with a 4% interest charge until the debt was amortized on December 31, 1940. After 39 years, the amount was almost 1 billion taels (precisely US$ 982,238,150).
The sum was to be distributed as follows: Russia 28.97%, Germany 20.02%, France 15.75%, United Kingdom 11.25%, Japan 7.73%, United States 7.32%, Italy 7.32%, Belgium 1.89%, Austria-Hungary 0.89%, Netherlands 0.17%, and Spain, Portugal, Sweden, and Norway 0.025%。 Also, additional 16,886,708 taels was paid at local level in 17 provinces. By 1938, 652.37 million taels had been paid. The interest rate (of 4% per annum) was to be paid semi-annually with the first payment being the July 1, 1902.
The Qing government was also to allow the foreign countries to base their troops in Beijing. In addition, the foreign powers had placed the Empress Cixi on their list of war criminals, although provincial officers such as Li Hongzhang and Yuan Shikai defended her, claiming that she had no control whatsoever over the whole escapade. She was later removed from the list, though she was to step down from power and discontinue any participation in the affairs of state." (From Wikipedia. Citations advised)