not only disturb the economic condition of the producing countries, but will also be a great loss to the world at large.
All the commercial nations are looking to China as the only "dumping ground" for their over-production. The pre-war condition of trade was unfavorable to China. The balance of imports over exports was something over one hundred million dollars gold annually. The market of China under this condition could not expand much for soon after there will be no more money or commodities left for exchanging goods with foreign countries. Fortunately, the natural resources of China are great and their proper development would create an unlimited market for the whole world and would utilize the greater part, if not all of the billions of dollars worth of war industries soon to be turned into peace industries.
China is the land that still employs manual labor for production and has not yet entered the first stage of industrial evolution, while in Europe and America the second stage is already reached. So China has to begin the two stages of industrial evolution at once by adopting the machinery as well as the nationalization of production. In this case China will require machinery for her vast agriculture, machinery for her rich mines, machinery for the building of her innumerable factories, machinery for her extensive transportation systems and machinery for all her public utilities. Let us see how this new demand for machinery will help in the readjustment of war industries. The workshops
