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China's monetary crisis last weekend inspired an excited Associated Press cable from Shanghai: "An American consular announcement today blasted Chinese Premier T. V. Soong's abortive 100% export subsidy program, as Chinese currency continued its dizzy descent, and the complete economic collapse of Generalissimo Chiang Kai-shek's Nationalist China appeared to be a very real possibility...

Author: /time Magazine | Title: CHINA: Inflated Crisis | 2/17/1947 | See Source »

Last week Premier T. V. Soong attempted to help the export trade by establishing a separate exchange rate for it, similar to a separate rate uneventfully set up a few weeks ago for remittances by overseas Chinese. Unfortunately, in announcing the new export rate, Soong used the words "export subsidy." Shanghai businessmen are aware that U.S. law permits the imposition of countervailing tariffs on goods sent to the U.S. under export subsidies by foreign governments. Shanghai believed that the U.S. Consulate had announced that it would invoke the countervailing machinery against Soong's subsidies. Some Chinese drew from that...

Author: /time Magazine | Title: CHINA: Inflated Crisis | 2/17/1947 | See Source »

...teenagers of Nanking's foreign colony straggled in. The General had invited them some time ago for afternoon movies and ice cream; he would not break this date even for affairs of state. Between meetings with the press and a long list of callers, including T. V. Soong and Chou En-lai's secretary, Chang Wen-chin, the General looked in on the moppets as they disposed of a gallon or so of vanilla. That evening he drove to the Gimo's again for family dinner...

Author: /time Magazine | Title: CHINA: Goodbye | 1/20/1947 | See Source »

General Marshall himself arrived at 10 minutes before 8. On a cold concrete apron, wet with melted snow, a cluster of photographers and dignitaries were waiting. Among the latter were Ambassador Stuart, Premier T. V. Soong, Chief of Staff Chen Cheng, Communications Minister Yu Ta-wei, Foreign Minister Wang Shih-chieh, General G. Q. Huang, Communist spokesman Wang Ping-nan. It was all very casual and informal-no ropes, no visible guards; everyone intermingled...

Author: /time Magazine | Title: CHINA: Goodbye | 1/20/1947 | See Source »

...modernized, industrialized China on a broad, democratic base. Chang has been a Kuomintang executive since 1928, is no left-winger but is equally opposed to the Confucian conservatism of Chen Li-fu. This week the newspaper Ta Rung Pao reported that Chiang Kai-shek may succeed T. V. Soong as Premier, bring in Chang Chun as his deputy and administrator...

Author: /time Magazine | Title: Foreign News: Honest & Able | 12/2/1946 | See Source »

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