China showing hesitation in open-door trade policy
Peking — China is hesitating in its open-door policy toward the world economy, but Western diplomats here have said that its new attitude does not mean a return to the repudiated Maoist philosophy of self-reliance. Foreign businessmen, especially the Japanese who joined the "China rush" with enthusiasm, have been rethinking their plans in recent weeks. A major Chinese decision was to cancel the second stage of a $2 billion steelworks being built by the Japanese. Diplomats agreed this was caused by economic pressures.