Long March II

Abstract

Introduction In October, 1934, Mao Tse-Tung led his armies on a 6,000-mile march across China. This gruelling one-year trek known as "The Long March" crossed 18mountain ranges and 24 rivers and was one of the heroic events in China'smodern history that culminated in her liberation on October 1, 1949. Another trek is now taking place in China - Long March II - the arduousjourney to industrial growth and economic prosperity. And, leadinginternational corporations and businessmen are joining in on Long March II. China is surviving the current world recession well. Where other countriesare foundering under enormous debt loads, China remains virtually debt free.Intensely competitive foreign suppliers of goods and services are beating apath to her doors thus ensuring a huge storehouse of products at bargainprices. "China is a tough market" say both experienced and novice China watchers andtraders. And yet, the hotels of Beijing (Peking) are crammed with businessmen, year round, all hoping to close deals with this stirring giant. Think of onebillion people in an area slightly smaller than Canada, all eager for theimplementation of policies to improve their standard of living. The growingawareness and demands of one-quarter of the world's population for food, shelter and consumer goods is staggering. Directly related to the desire for an improved standard of living is thedemand for energy and China's ability to develop her energy resources in stepwith this growing demand. Over the next 20 years, a World Bank study estimates China will spend $420 to $480 billion to develop its energy infrastructureincluding offshore petroleum exploration and production, onshore enhancedrecovery, oil and gas pipelines, coal mining facilities and hydro-electric andnuclear power stations.