Abstract

China in Distress
Stewart, Maxwell S. | March 18, 1944 issue

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Inflation is the main problem for Chinese economy according to Americans who travel to China. By the beginning of 1944 prices had mounted to such fantastic levels as to stagger the imagination. In Chungking, where the situation is worst, prices are now more than 200 times as high as in 1937 and are continuing to rise at the rate of 10 per cent or more a month. Because of the shortage of goods the price of some manufactured articles has risen more than 500-fold. Americans, who must exchange their dollars for Chinese currency at an artificially pegged rate, pay $10 or more for a meal, $60 for a pair of shoes, and $2 for a package of cigarettes.

See Also:

INFLATION (Finance); CIGARETTE industry; PRICES; TOBACCO; MONEY; CHINA
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