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SINO-SOVIET ECONOMIC RELATIONS 1958-1962,
RAND CORP SANTA MONICA CALIF
The peak in Sino-Soviet trade was reached in 1958-1959, when it accounted for half of Chinas total trade. It declined heavily in 1960-1962, as did Chinas trade with Eastern Europe. The decline reflected Chinas economic crisis as well as the Sino-Soviet conflict. Apart from the recall of Soviet experts in 1960, there is no clear evidence of overt Soviet economic warfare. The USSR exerted severe economic pressure, but did so in the businesslike guise of cutting exports to China, in response to Chinas reduced ability to pay. However, the USSR has tempered this close-fistd attitude with a few semi charitable gestures. Comercial relations, although visibly strained by the political dis pute, have remained formally correct. But the collapse of Chinas trade with the Bloc, the severe curtailment of imports other than grain from the West in 1961-1963, and poor prospects of obtaining long-term credits in the West have deprived China of the opportunities she had prior to 1960 of harnessing foreign trade to the needs of her industrialization drive. Pekings all round intransigeance, for the time being, makes China virtually the only underdeveloped country not receiving economic aid from any source. Author
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