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The Alaskan
Petersburg, Alaska
What is this article about?
Reports from Shanghai indicate China plans a 10-year industrialization program, seeking billions in foreign products for infrastructure and industry development, contingent on peace and no Japanese interference. Estimated $11 billion for machinery alone, using credit rather than government ownership.
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Full Text
According to reports from Shanghai, China will be in the market for billions of dollars' worth of the products of other countries to carry out a 10-year industrialization program if Japan keeps hands off and civil warfare gives way to peace.
It is estimated that $11,000,000,000 will be spent for machinery construction alone.
The plan embraces the development of harbors, canals, railways and roads, the opening of a vast undeveloped area of northwest China and the setting up of industries and agricultural projects throughout the republic.
The development project would cover a wide range of industrial activities designed to produce iron, steel, brick, cement, locomotives, ships, coal, tar, chemicals and electricity.
The United States Trade Commissioner at Shanghai reports that the Chinese 10-year plan calls for the use of government and private credit instead of government ownership as in the case of Russia in its five-year plan.
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Where did it happen?
Foreign News Details
Primary Location
China
Outcome
estimated $11,000,000,000 spent for machinery construction; development of harbors, canals, railways, roads, northwest china area, industries, and agricultural projects; production of iron, steel, brick, cement, locomotives, ships, coal, tar, chemicals, and electricity; use of government and private credit.
Event Details
China plans 10-year industrialization program requiring billions in foreign products if Japan refrains from interference and civil war ends; plan includes infrastructure development, opening northwest China, setting up industries and agriculture; covers wide industrial activities; differs from Russia's plan by using credit instead of government ownership.