NEW RIVALS FOR BRITAIN’S TRADE

Sun (Auckland), Volume 1, Issue 25, 21 April 1927, Page 9

NEW RIVALS FOR BRITAIN’S TRADE

CHANGING MARKETS (From Our Resident Correspondent.'} WELLINGTON, To-day. In discussing Great Britain’s trade, H.M. Trade Commissioner in New Zealand (Mr. L. B. Beale) says that the (actor which is most likely to modify the course and character of Great Britain’s trade in the future is the growth of competition, not alone from those highly industrialised countries who for many years have competed with her, but also from countries which were formerly considered likely to remain producers of primary products in both and raw materials. This impulse for home manufacture, in many cases, came from the war and has been quite obvious within the confines of the British Empire as well as elsewhere. Examples, he said, were: Cotton goods from India, Japan, China, Canada and Brazil, countries which increased their spindles from 10 to 20 million in 12 or 15 years. Iron and steel: Australia and India had increased the output from 400,000 tons per annum to 2,000,000 tons in 10 years. “Of course,” he went on, “as nations grow richer through industrial progress their purchasing power will increase. It is noteworthy how in a country like the United States the demand for fine and luxury goods enables British products to leap a pretty stiff tariff barrier. The United States is Britain’s third best customer. “Another factor of great influence on British trade ib always in evidence in the opening of new areas. Nigeria and the Gold Coast exported 58,000 tons of cocoa in 1914 and in 1924 this rose to 260,000 tons. Shortly cotton will be exported from these countries as a result of the building of a railway to tap the growing areas.”