SHIPPING IN THE FAR EAST.
serious SITUATION.
BRITAIN LOSING GROUND Japanese Methods Undermine Position. Received 1 p.m. London, December 30. Mr. Hector Bywater, in the Daily Telegraph, says that the Government is seriously .concerned over the shipping situation in the East, where British companies are fast losing ground, owing to subsidised foreign competition, especially from Japan. The Imperial Shipping Committee has been asked, to furnish a special report on the Far Eastern position. There is ample evidence that Japan Is making a big drive, to secure a virtual monopoly of certain Far Eastern trades, by means of subsidies, currency inflation, lower.worjking costs and low In- . tertsW rajes. Shipbuilding loans already total £3,000,000 and will soon reach £6,000,000.
Shipping authorities consider that the continuance of present conditions will result in the elimination of British ships from the East, with a consequent reaction on the naval and Military requirements of the Empire.
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Taranaki Central Press, Volume IV, Issue 321, 31 December 1936, Page 5
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150SHIPPING IN THE FAR EAST. Taranaki Central Press, Volume IV, Issue 321, 31 December 1936, Page 5
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