WORLD TRADE GROWS

Hokitika Guardian, 9 March 1931, Page 8

WORLD TRADE GROWS

DESPITE RECENT DEPRESSION. SOME SURPRISING FIGURES. In spite of the world depression, trade figures have climbed, according to Mr Noel Baker M P- The- following is an extract from a recent speech by him in the House of Commons:— ~TT members will study the .Memoranda on Trade and Production and ' Balances of Trade, published by tho Economic Section of the League oi (Nations, they will see that since 1913, in spite of the war and the economic dislocation which the war brought about, in spite of the aftermath ot the war. such as reparations, the Russian famine, the Chinese civil war. Indian unrest, and so on, which tended to check tlie wealth of tho world and international trade j there has nevertheless been a growth of world population of only 10 per cent., and a growth of international trade of 24 per cent. “The same is true of every Continent. The population of North America has increased by 20 per cent, and its international trade 1 has increased by 02 per cent.; in Africa, the population has increased by 10 per cent., and -the international trade by 33 per cent. Look at individual countries.

“I will only give a few, taken at random—and these are real increases in ithe volume of trade calculated at 1913 prices, not apparent increases which represent nothing because of the change in price levels. “In Denmark the imports are up by 42 per cent., and the exports by 73 per cenit. ; in China, which is one of tho countries from which we arc supposed to have been cut off by its industrialisation, the- imports are up by 29 per cent., and the exports, in spite of the chaos which has been reigning there, by 37 per cent. Look at the United States of America. Since 1913 there have been great, increases in ns tariff levels, but nevertheless United States trade lias increased in imports by 81 per cent., and in exports by nearly 70 per cent. “With these figures before us, surely the conclusion is absolutely irresistible that even if there have been inincreases of tariffs, they have 'not effected the fundamental fact that international trade has also enormously increased. The truth is that even those countries which, by tariffs, have done their utmost to make themselves self-sufficient, and, as they believe, to keep, out the ‘pernicious’ exports — Germany and the United States —have not decreased their international trade or their trade with us. Their external trade has very greatly increased, and our trade with each of them lias equally increased. “What are the essential facts about countries like India and China ? Tho facts are that India and China have begun to develop an international trade that they are taking every kind of Western goods—whereas previously they took none—railway material, locomotives, rails, motor ears, bicycles, radios, gramophones, sewing machines, electrical equipment, and so on. There is a great, expanding world market. The world is becoming more and more one economic unit, with a. single world economy.”