Mineral Wealth and Industrial Power – Communist China’s Boasts Begin to Come True

Under the Communist regime marked industrial progress has been achieved on the China mainland. Within a decade, the country has been transformed from an economy primarily agricultural to one bristling with industrial possibilities. The industrial capacity of Communist China is beginning to approach that of Japan and will probably surpass it by 1962, the last year of the Second Five-Year Plan. The slogan already is Beat the United Kingdom by 1972, a goal which most observers feel will be achieved ahead of schedule. During the early years of the industrialization program in Communist China, emphasis has been placed on basic goods; hence additional time will be needed to make large quantities of the more complicated products. However, regardless of the current stage of industrial development, it is apparent that the necessary forward momentum has been created. The many capital construction projects being brought into production and the additional projects being initiated confirm this observation. The accuracy of Communist China's industrial statistics can be questioned, but their order of magnitude is clear. To properly evaluate the industrial capability of the country, differentiation must be made between the absolute quantities that reflect overall strength and the per capita quantities that reflect living standards. While Communist China is well on the road to becoming a world power, its living standards will remain below European levels for many years to come.