EAST AND WEST

Hokitika Guardian, 10 June 1932, Page 4

EAST AND WEST

ECONOMIC RELATIONS. ADDRESS TO HISTORICAL ASSOCIATION.

CHRISTCHURCH, Juno 9. Mr G. Lawn, of the Canterbury College department* or ei-om, lines, delivered an address on “’llie Economic Relations between East and West, with Special Reference to the Age cf Imperialism,” to members of the Historical Association last night. Mr A. ci. Anderson was in the chair. There .was a big change in the conditions of world trade in the ’seventies, stated Mr Lawn. The Suez Canal alters the recognised trade routes; rapid industrialisation was taking place in Germany and the United States; and there was a scramble lor •supplies of raw materials and markets for manufactured goods. THE STRUGGLE FOR MARKETS The rise of the cotton industry in Japan, for instance, which supplied tli • .Japanese, Chinese and Straits Settle- J rnent markets, had enabled ilit; .Japanese to eonribute towards tile falling- j off of tile Lancashire trade. The rise | of cotton manufacturing in China had reacted on the industry in .Japan, India, and Lancashire. But in terms of world trade ill is actually meant an expansion, though it might perhaps b<‘detrimental in a local sense. The revolution in transport the Bessemer ..steel process,' -refrigerating | machinery, and improved Ini sines,; i im thods were all cited by the speaker as opening up new relations. Concessions were aimed at in new countries, and especially iri the Ea,st. JAPAN AND IN DO-CHINA. From 18GR there was rapid industrial development in Japan, and it was I soon able to compete with European i countries in certain manufactures, j Japanese industry was largely internally .financed, but in Indo-Chinn the French secured concessions «nd 'extended their influence by military operations. There were great possibilities for the expansion of trade with Southern China, particularly in the matter of minerals and metals, and a railway concession was soon obtained. France thus gained a large trading influence. and even now 40 per cent, of Tndo-China!s imports come - from France.

ECONOMIC! PENETRATION OF CHINA. Until the forties there was practically no trade with China, but the possibilities of establishing shipping lines, railways, and mines were big while Government loans and manufacturing enterprises were suitable for financial investment. But .some sort *• f ..-ecurity had to be gained, so that, simultaneunsly with the progress of economic penetration right's; such a* that of extra-territoriality, had to be granted by the Chinese. The Chine,-e had now freed themselves of sonic of the conditions that they considered unfairly imposed upon their country in the early days. After the Opium War, five treaty ports were established, and Ikritis! goods were subject to a fixed Custom* duty. In 1844 treaties were also made with the United States and France, as a result of which there was a hie increase in trade, but no investment of capita! was yet thought of. England and France obtained further concessions after the war arising firm the murder of a French mis.-i* nai v i* 1857. Afler the Pekin Convention of 1860, a European administrator' v.a • appointed to t.be Custom*.

INVESTMENT, OF CAPITAL. Investment of foreign capital followed the Siiimoneseki Convention in 1895, and it was also about tins perh.c that the scramble for coiicca.iuiik occurred. Various countries brought a I their powers of diplomacy to he.if, am were righteously iiirngnaiit wne, special concessions were infringed. There is no doubt that Chinese in temsts were almost entirely (lisie garded. Investors in the United States wen not under the same necessity of seek ing profitable foreign fields of investment at this period, and it was no. till the twentieth century, that American investments assumed large 1 proportions. The Chinese Eastern Rail way was largely financed by French investors, and it was interesting to consider how far the French might Ire behind Japan’s Manchurian policy. After the war between Russia am Japan, terminated in 1905, many Rus sian.s rights in railways and territory were ceded to .Japan, and this opene up rich mining concessions. The up shot of all the railway constnictim wa* that China had now 8600 miles o railways, oF which 2000 miles w< it owned and controlled hv foreigners.

THE PHILIPPINES. In their control of the Philippines. * might be noted, tile American bad sc up discriminatory Customs duties an now supplies between 60 and 70 pel cent, of the imports. The iiulejieiidene movement in the Philippine* was a I so supported by certain interests ii America, which objected to the Inv rate of duty imposed on certain ii* ports from the Philippines. At the eonclusio of his address, .Mi ’awn eoMV-red several nuexl ions an gave a brief account of factory conditions and problems in China . A vote of thanks to the speaker waproposed by the Rc.v. M. A. Hugh Pratt und carried.