The rapid pace of development envisaged by the Chinese authorities in 1978 and eagerly seized upon by the country's trading partners in the non-Communist world has given way to a much more sober prognosis. China's rulers publicly accepted last year that their original goals were unattainable and announced an adjustment of economic policies for 1979-81, involving a switch of emphasis from heavy industry to agriculture, power generation and light industry. Import growth and oil and coal production have all been reduced from earlier targets, and there has been a pronounced decline in the expansion rate of the Chinese fleet from the very rapid pace set in 1978. The implications for shipping demand of this readjustment are by no means gloomy, however. Trade is developing steadily, rather than at an unstable and unsustainable pace, and the gradual strengthening of trade with farther flung partners in Europe and North America--which can be continuously monitored through our shipping movements data bank--augurs well for potential growth in ton-mile demand. The article covers: Fleet expansion; Control of trade; Port Expansion and Modernization; China's trade deficit; Grain Requirements; Co-operation with the U.S.; Bulk imports and exports; Japanese oil imports and the political climate in China.

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    Lloyd's of London Press Limited

    Sheepen Road
    Colchester, Essex CO3 3LP,   England 
  • Publication Date: 1980-4

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  • Accession Number: 00312387
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Jul 22 1980 12:00AM