DEPRECIATION OF SILVER.
EFFECT ON TRADE WITH CHINA. In 1928 when silver was worth 2/0 per ox, the exchange value of the Chinese dollar of that metal was half that of the American dollar. To-day it takes about 4'A Chinese silver dollars to pay for one dollar's worth of goods from the United States, with the inevitable result that imports from that country showed a marked falling ofl'. For a similar reason there has also been a decline in Chinese buying from Britain. One result lias been to compel Chinese people to buy at home. This was followed by outside nations starting industries in China, with the result that there has been marked prosperity in the coastal cities. Cotton mills, cigarette factories and Hour mills were erected with foreign capital to provide the domestic needs of the people of China.
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Bibliographic details
Auckland Star, Volume LXIII, Issue 78, 2 April 1932, Page 4
Word Count
140
DEPRECIATION OF SILVER.
Auckland Star, Volume LXIII, Issue 78, 2 April 1932, Page 4
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