BRITISH TRADE

Hokitika Guardian, 9 May 1931, Page 3

BRITISH TRADE

IN THE FAR EAST. I United Press Association.— H> Elccii l'elegraplj.—< op.vnulJL. i LONDON, May 8.

Grave warnings to the future of British trade are contained in the re[Kirt ol a Trade Mission to tin* Far East under tlie chairmanship' of Sir Ernest Thompson, including representatives o. the trade unions, the Cooperative movement, and the engineering and woollen industries. The conclusions and recommendatjo ns, which are unanimous, point out that if the decline in Biitiaii’s exports in tlie Fur East continue, at the present, alarming rate, the result, must soon he bankruptcy. The report emphasises that low price, rather than quality, is tlu> first .consideration ..of sales in..the Far Epst. Britain’s goods are made more expensive than those of her rivals by higher wages, shorter hours, and heavy taxation. The report says that production costs must be reduced to a competitive level. 'Phis would entail a voluntary sacrifice on all classes in Britain, but it wo lid be preferable to compulsory sacrifices due to a disaster.

The shrinkage of the trade with Japan, says the report, is primarily the outcome of Japan’s ability to supply her own manufacturers.

Tlu* decline in the trade with China is due to Britain’s products being dearer than the Japanese and German goods, and less attractive than the American products. A special warning is issued in regard to Japan’s great and growing competition in tlie woollen industry. The British wool industry must reduce its prices to meet it. The Yorkshire wage cost per unit of producton. it- is said, is at least two and a-lialf to three times greater than the Japanese wage cost.

The report recommends the various export trades to form groups for cooperative marketing and Argentine trade' is similarly hampered liy high freights.

WHY BRITAIN LOSES TRADE. LONDON, May 7. “Briti.h ships are carrying British goods to New Zealand at fi ight that is from 50 to 125 per cent, higher than the freight for which British ships are Carrying American goods from New York to New Zealand.” This charge is contained in the memorandum of a group of important British manufacturers, which has been submitted to the Board of Trade.

This, sav s the ‘‘Daily Express,” is ■the first step in ,a war between the British Industrialists and the British Shipping Conference. The Conference are blamed for thus blocking the expansion of the British export trade. The “Daily Express” ha s interviewed other manufacturers, who complain that the investigation, with bankers assisting them, to carry out a more aggressive campaign. The British Government should make an advance of money towards the stabilisation of silver in China.

PRINCE OF WALES. WILL REPORT TO BUSINESS MEN. RUGBY. May 7. The Prince of Wales will next week address business men at a meeting arranged by the local Chambers of Commence in Birmingham and Manchester. He will refer especially to his observations on his recent South American tour. ' t the week-end he will flWtil the Midlands where he will stay with Lord Ednam, \yho accompanied him to South America. It is expected that be will make informal visits to several factories in the Birmingham and Wolverhampton di ;tricts.