CHINA'S CRISIS
BLEAKEST YEAR OF WAR
IN THE GRIP OF INFLATION
(By Telegraph—Press Association— Copyright.) Rec. 9 a.m. NEW YORK, Jan. 19. Foreign observers believe that China is facing the bleakest year of the war against Japan because inflation has carried prices 200 times above the 1937 level, says the "New York Times" Chungking correspondent. Some manufactured goods have even increased five hundredfold and industrial production generally is declining. For example, 55 of 364 factories in the Chungking area have closed down, 13 have suspended operations, and others are expected to follow them before spring. This decline is due to a shortage of funds for long-term investment during the inflationary period when short term commercial loans were more profitable. It is also due to the high cost of production and the inequalities of price control measures.
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Bibliographic details
Evening Post, Volume CXXXVII, Issue 16, 20 January 1944, Page 5
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136CHINA'S CRISIS Evening Post, Volume CXXXVII, Issue 16, 20 January 1944, Page 5
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