The Export-Promoting Policy of the Nationalist Government and The Foreign Trade Association of Chinese Industry : China\u27s Attempts at the Export-Oriented Industrialization in the 1930s

As is well known, the question of how to develop the economy of a developing country is of major importance and involves the selection of a development strategy.According to the results of this paper, this was a problem facing China in the 1930s.1. While China\u27s efforts of import-substituting industrialization succeeded in some degree, the Chinese economy was forced to deal with new problems in the mid-1980s.In spite of the drastic decline in imports, the balance of trade deficit continued, for exports also decreased.2. The Nationalist Government could not avoid adopting an exportpromoting policy.Moreover the Minister of Industry, Chen Gong-bo, came up with the idea of focusing the export of industrial products to South-East Asia, which can be regarded as the beginning of China\u27s attempts at export-oriented industrialization.3. Some of the industrialists, especially those who managed the companies involved in the newly developed industries, organized a group called The Foreign Trade Association of Chinese Industry to support and promote this export-oriented industrialization.4. However an anlysis of the activities of The Foreign Trade Association of Chinese Industry in the 1930s shows the difficulties of China\u27s export-oriented industrialization efforts.One of the major obstacles was that the world economy was being buffeted by waves of protectionism