1945

The position regarding inflationary and deflationary pressure in the region during 1948, as far as it can be judged by the behaviour of prices, may be summed up as follows: China continued to be in the grip of hyper-inflation. An unsuccessful attempt was made to hold the tide of inflation by the currency and economic reform of 19 August, 1948 which is described later in this chapter.

Related Subject(s): Economic and Social Development
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