) No doubt as
industry develops Socialism and labour unrest will also develop. If Mr.
Tyau is to be taken as a sample of the modern Chinese governing classes,
the policy of the Government towards Labour will be very illiberal. Mr.
Tyau's outlook is that of an American capitalist, and shows the extent
to which he has come under American influence, as well as that of
conservative England (he is an LL.D. of London). Most of the Young
Chinese I came across, however, were Socialists, and it may be hoped
that the traditional Chinese dislike of uncompromising fierceness will
make the Government less savage against Labour than the Governments of
America and Japan.
There is room for the development of a great textile industry in China.
There are a certain number of modern mills, and nothing but enterprise
is needed to make the industry as great as that of Lancashire.
Shipbuilding has made a good beginning in Shanghai, and would probably
develop rapidly if China had a flourishing iron and steel industry in
native hands.
The total exports of native produce in 1919 were just under L200,000,000
(630,000,000 taels), and the total imports slightly larger. It is
better, however, to consider such statistics in taels, because currency
fluctuations make the results deceptive when reckoned in sterling. The
tael is not a coin, but a certain weight of silver, and therefore its
value fluctuates with the value of silver.
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