WORLD TRADE.

Hawera Star, Volume XLVIII, 5 August 1924, Page 9

WORLD TRADE.

GERMAN COMPETITION. LITTLE TO FEAR. AN IMPROVERISHED COUNTRY. BY CABLE-PRESS ASSOCIATION-COPYRIGHT, Received Aug. 5, 12.55 p.m. * LONDON, Aug. 4. The Morning Post’s Berlin correspondent interviewed Dr. Harman, Minister for Economic Affairs, regarding the possibility of the Dawes plan dislocating world trade. Dr. Harman said whoever wants reparations must not complain about- German exports, but it is an over-statement to sav that Germany is going to flood the "world with manufactured goods. The industrial crisis in Germany is growing seriously every day, and the tide of unemployment is rising. Trade unions report that half their members are on short time. Though the German industrial apparatus was intact after the war, we have lost touch with the world markets, and the shortage of money has swallowed up working capital and prevented the modernisation of plants. Above all, the purchasing capacity of home buyers has been annihilated. The Dawes report therefore is accurate in saying that German industry must have a long term of credits to prevent collapse. Until Germany has a strong buying public at home its capacity to export must be weak. It will lie long before German industry will be a menace to those countries whose capital and resources have not been undermined. -—Aus.-N.Z. Cable Assn.