893.50/7–3144: Telegram

The Acting Secretary of State to the Ambassador in China (Gauss)

1021. According to press reports, Dr. Kung asserted in an address before industrial leaders in New York on July 27 that post-war China, visualized as an open market abundant in industrial opportunity, will welcome participation of American industrial interests. Dr. Kung recalled that in the past the United States has devoted the most attention to religious and cultural fields in China. He said that after the war the United States will play a much greater role in the economic sphere, heretofore dominated by Japan and Great Britain. Dr. Kung declared that even while the war is going on China is undergoing an industrial revolution which will gather force and gain momentum when victory has been won, and he said that a prosperous China will not only be a good market but will also be a necessary condition for the maintenance of peace in the Far East.