Survey of the Effects of the Undeclared War on Foreign Business and Investments TTH the undeclared warfare between Japan and China entering upon the eighth month, sufficient data have become available for a preliminary survey of its effects upon trade. though the trade of China alone amounts to little more than one per cent of all international commerce, the full consequences of the' conflict cannot be measured in these terms. For some countries and for some products, the Chinese trade is more important than for others.
'Moreover, large foreign' capital investments, particularly British and Japanese, are at stake, states the "National City Bank of New York Bulletin.' with corresponding figures for 1936)
Growing political unity, currency and for the frst-seven months of stabilization, Improving finances, in-1936 and 1997:* (see table below) dustrial expansion and a remarkable highway and. railroad construction Port Trafic and Internat 'Trade activity, made the economic situation of China more promising in the mid-We have referred above to the 'Summer of 1987 than at any. other shifting of Chinese trade channels time in the past twenty years. Aided caused' by the military operations. by excellent crops and world demand Between July and October, imports for raw materials, the increasing} through Shanghai slumped' from 77 prosperity of the country was reflect-million yuan to 8 million, while at ed: in its foreign trade, and in the the same time imports through Can-first seven months of '1997 imports ton and. Kowloon—two cities having. increased 37 per cent compared with unto the present time direct rail corresponding period of 1936, while connections with the Central Yangtze exports gained 45 per cent, with the basin—rose from 6 million yuan United States occupying 'a leading 12 million. Hongkong has also position in both, 'The war brought a tracted increased business, and many Sudden' end to this prosperity, and Shanghai firms have moved there oF within. a few months Chinese trade to Canton. The next table, from Was cut approximately in half, Forme Tease of Cvaia Total Merchandise Trade United States Trade
Text read from the printed page and cleaned; old type leaves the occasional error.