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What is the reason for the formation of China's modern history of blood and tears?
There are many reasons. Let me put it simply:

Politically, the feudal society in China lasted too long, which led to the development of capitalist economy in China. Moreover, at that time, the rulers of China were not Han Chinese, but the Manchu emperor was arrogant, and this idea was handed down.

Economically, China has been a small-scale peasant economy since the pre-Qin period, with certain stability, but it is a relatively scientific economic system in feudal society. However, due to its relative stability, the later natural economy hindered the development of capitalism, and China's capitalism did not accumulate well.

Culturally, the appellation of businessmen began in the pre-Qin period, but in the history of China, businessmen were very looked down upon, and that was the case at that time. Moreover, during the Neo-Confucianism period in Song and Ming Dynasties, the repression was very severe.