Now let us revert to the position in China. As is well known China is not able to pay for all the goods that she buys in the shape of commodities. She has a big annual balance to meet, both on account of her foreign liabilities and on account of trade. Only two courses are open - apart from the adjustment of exchange; one is to stop buying more than she could pay for in commodities, and the other is to export enough to meet, not only the value of imports but also the total of the annual payments due on account of her foreign debts. To stop buying imports is neither possible nor practicable, because this trade is almost exclusively regulated by the laws of supply and demand. For the matter of that, the export trade is also regulated by the same law; nevertheless, I need not unnecessarily emphasize the fact that there is really a greater demand for China's produce than the country is able to supply at the moment - owing to various causes. Therefore, increasing the export trade is more within the range of probability, if the right steps are taken towards that end.