A4
CHINA
no agreement being arrival at, The Dalai Lama visited Peiping in 1921 and was received in audience by President Hsu Shih-chang.
FOREIGN TRADE IN 1935.
VALUE OF TRADE
The following table gives the value of the foreign trade of China for the years 1933, 1934 and 1935 as published in the Returns. Figures for the years prior to 1933 included Manchurian trade with abroad.
I-VALUE OF THE FOREIGN TRADE OF CHINA, 1933-35
Net Imports Exports
Total
1933 Million $
1934 Million $
1935 Million $
1,345
1,030
919
612
535
576
1,957
1,565
1,495
733
495
343
Excess of Imports
are not
The downward trend in the value of China's trade gives cause for some. anxiety, the total value of foreign trade showing a further decline of $70: million, or 4.5 per cent., as compared with the previous year's figures. The value of the import trade declined by a further $111 million, or 10.8 per cent.,¦ but there is a satisfactory increase of $41 million, or 7.7 per cent., in the value of the export trade. The adverse balance was further reduced, amounting to $343 million, or $152 million less than the previous year. Enough has been' written to show that the causes for this general decline in trade alone inherent in
in the Chinese situation. On the contrary, considering the many adverse outside
outside influences from which China has suffered, more unfavourable results might have been anticipated. Furthermore, in lamenting the decline in the
the decline in the value of China's foreign trade, it should not be overlooked that the value of world trade is relatively in no better state, being estimated for the year 1935 at 35 per cent. only of that for the year 1929 the last pre-depression. year in most countries, whereas the total value of China's foreign trade for 1935 still represents 55 per cent of the figure. recorded for 1929. On the whole, given stable exchange and some iniprovement in world conditions, it is not unreasonable to hope for some recovery in 1936. The table which follows illustrates the adverse balance of trade during the past 26 years.
i
VALUE OF THE FOREIGN TRADE OF CHINA LESS THE MANCHURIAN TRADE WITH ABROAD, 1910-35.
Adverse
Year
:
Imports. Exports. Balance of
Trade.
Year
Adverse Imports. Exports. Balance of
Trade.
Million $ Million $ Million $
Million $ Million
Million $.
1910....
1911.....
649 503-
146..
1923.
1,251 868
383
650
482
168
1924.
1,389 878
511
1912.
1913....... 1914....
......
1915. 1916..
644.
485
159
1925
1,242 876
366
788
523
265
1926.
1,473 934
539.
.780
449
331
1927.
1,298 980
318
619
546
73
1928..
1,530
1,047
483
. 1
678. 612
66
1929.
1,620
1,070
550
1917.
697
570
127
1930..
1,723
944
779
}
1918.
•
707
1.587
120
1931
2,002
915
1,087
1919.
1920.
785
739
46
1932.
1,524
569
955
997
614
383
1933.
1,345 612
733
1921.
1922.
1,233 1,284
698
535
1934.
1,030 7535
495
764
520
1935..
919 576
343
In determining China's adverse balance of out-payments in her trade account during recent years it is of interest to refer, as in last year's report,
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