TRADE WITH EAST

Hokitika Guardian, 30 December 1933, Page 5

TRADE WITH EAST

ANGL 0-CHINE SE POSSIBILITIES. (Per British Official Wileless.) RUGBY, December 28. The possibilities for increased trade between China and Britain and need ifor greater ufantoct Jbetweon British manufacturing interests and Chinese business men are discussed in. the report on trade and economic conditions in Chin* by the British comImencial jcounsellw at Shanghai, M> (Louis Beale.

He empha s -’sed that although the strength and wealth of China should rest on her agriculture, yet in 1952 ten per cent, of the total exports were wheat and rice, and ten per -cent sugar, and other foodstuffs. Meanwhile, many of China’s industries are declining, .and .less of her many fine products are available or suitable for export.

At the same time he praises the Government plans for pacification and reconstruction of the country. An -example is the four-year industrial plan for increasing production of steel goods. The outstanding weakness of the financial position is the continued heavy default in railway obligations to foreign lenders, and the rehabilitation of railway finance and operations is a pre-requisite of progress.

He considers the greatest market ;i n lOhina from now onward will consist of capital goods including machinery and equipment, the opportunities for which ought to more than offset the probable loss,, to British trade in consumable goods. The key note of British participation in the development of China must be investments, and cooperation with Chinese interests.