Thus in 1932 the value of exports was but little more than half the value in 1981 and for the first six lenths of 1938 the value was 0 Shird Jest than in, the corresponding period of 1992, These examples problems in China's industry and fade would not be so serious if imports and) exports more nearly Balanced. The exports this year so fav are but 40 per cent, of the imports and. the adverse balance of trade for the first six months of 1993 is no less, than £30,000,000.
essed in millions sterling: Ching's foreign trade figures January—June for 1932 and 1933 were:
3032 1993 Imports Exports quired to pay for wheat and rice est six months of 3088 wore re-alone imported during that period.
Tt is obvious that unless this vapidly declining trend is checked, China, og a trader, will almost cease ann capacity of Asiatic people, both manufacturing and but it seems quite possible that Japan's in May of this. year will in some normally exercised by nationals of eases still further foster local pro-modernly developed countries duction and diminish imports. But {their own lands, The outstanding weakness it should be noted as a result that In other words China is prepared JChina's financial position is the Government revenues which are 80. accept a very groat measure continued heavy default on her! considerably dependent on the i from. without, and evea railway obligation to foreign lenders. port duties are likely to decrease—a interim measure of control [Until practical measures are undercondition which would weaken the I enterprises, but she has] taken "to. correct this situation security' for, the service of the determined as soon a=' possible to he [China's lack of credit must continu several foreign loans secured on mistress in her own house, thus to be the obstacle to foreign invest= customs revenues, following the normal trend of pro-meat in any form, If then the trend of modern China gress as exemplified in all modern Rehabilitation of railway finance is towards local production—as un-countries, of which outstanding ex. jand operation is the prerequisite doubtedly would appear to be the, samples are the United States' and case—it is pertinent to examine the Ena, development, which fa easental China is to progress. A Railway] effect on the trade of the United Before the Great World War of Kingdom to. Chi Tt can at once 1914, which for a time has consid leperated on be said that the ture import mar- abl ly' disturbed normal values anid the" Chinese Maritime Customs, ket! of China. will consist far: more jnatura] tendencies, the trend was, would appear to be of the greates of capital goods than coneumabie through no vastly organised scheme beni: to China, but as the Unhainpered outcome of This turn will affect financing of foods, at least for several years, Explaining the factors which con-economic development, for capital tributed to the depression, the Retrade to China. Consumable goods and equipment to. flow from. the port says. that many of them are are "untally "hanced over a very most highly developed countries Met, peculiar to" the period. under the thet hand more often than not imited ital good having an "abundance. thereof *o review but' constitute continuous those "relatively undeveloped coun-hardships under which the trade of periods, require loans or credit' over lon tries requiring that kind of assis. hina suffers, and. problems of which the edrrect solution rust China sor'the next decade of two The capital goods markets i The Necessary Control exercise the minds of the Chinese Jauthorities for some. time to come. Will tanaist of: As Mr. C.F, Romer states i The Chinese Government today is 3. Raltway equipment. the introduction to his " recently] thoroughly alive to the fact that, Public tity equipment. _(Ele-[published book Foreign Investments fin spite of very considerable pro.
frie light, power, gun; wates)- in China," while there are. during the last. thirty years, Freon equipments "partedaly 4 Highway transportation equip-lof capital to undeveloped eastern textile ito the inflow of capital, the flow obstacles "in The undeveloped West China. stil "igs behind the, othe countries of the world in. scien! progress, " organisation, education ment." " "Buses, trucks and pas- [countries is in accordance with the fand modern social amenities. leapacity. of receive the capital and make effect-countries inow given a period of freedom from River and coastal vessels. fire we oft external worries and internal strife there is every reason to believe that fronds' Imported in" 1882 "(a\"poot [tion int the The following figures of capital!
The keynote to British develansent, bt Gaba [China will make rapid and prosperous and wealthy China year) are-an in of what must be investment, ce-operation should take her proper place in the lass goods will be. imparted "into China." On the principle that the best markets of the United King dom ave the most developed coun-ries, progress in China should ead to increased imports of higher el goods, materials, machinery cand equipment from the United " Kingdom. Tt must therefore be in. the ultimate interest of Great " Britain to ce-operate with the Chinese in the establishment of industries calculated to meet the needs of the masses, Tt must equally be in the interest of China to welcome such ce-operation and to facilitate it by affording full security and proteeion to British interests thus parti-
Text read from the printed page and cleaned; old type leaves the occasional error.