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The Crisis In The Chinese Cotton Industry

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Chapter Summary

The World War was primarily responsible for the rapid development of the cotton industry in China. The Western powers were unable to take care of China's growing market for cheaper commodities which were rapidly undermining the rural industries, home spinning and weaving. After 1930, Chinese-owned cotton enterprises began to feel the transition from chronic to acute crisis. The foreign factories, particularly the Japanese, have suffered very little in the present crisis. Whether the Chinese mills will be able to survive the present acute crisis is problematical. Mr. Yung Tsung-Ching predicted recently the eventual extinction of the Chinese cotton industry. This will happen soon, he said, when the suspended cotton mills are unable to procure more capital from the Chinese public to enable them to resume operations, and when the few surviving mills, in the face of severe Japanese competition, are compelled to admit defeat and close their doors.

Keywords: acute crisis; China; cotton industry; foreign factories; Japanese; Yung Tsung-Ching

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