The US dollar value of Chinese exports increased at an average rate of almost 18 percent per annum between 1978 and 1983, while imports increased by (approximately) 11 percent per annum. As a result, the visible trade surplus rose sharply from US $ 1.4 billion in 1981 to US $ 4.4 billion in 1982 and US $ 3.7 billion in 1983. Exports grew much faster than imports during this period not only because of the strong emphasis placed on exporting by China's economic planners, but also because a number of industrial projects were postponed in 1979. Official recognition that foreign technology could play a major role in modernising the Chinese economy had caused imports to rise by more than 50 percent in 1978 placing undue strain on the national economy. Grain imports have fallen sharply over the past few years. China (became a net grain exporter) in 1984 and in 1983 the country started to export soya beans and cotton.
(1) What do "per annum" and "approximate" mean?
(2) Why did the more than 50% rise in imports of 1978 place undue strain on China's national economy?
(3) What is "a net grain exporter"? Does it mean one who has never done any import?
(1) The expression "per annum" means "each year" and "approximately" means about".(2) More foreign exchange is required for more imports. All sections of China's national economy would have to work harder and better to export and earn more for the imports increased.(3) "A net grain exporter" is not one who has never done any import but one who has done both imports and exports of the item, and finally exported more than imported within a period of time.
