A CLOSED DOOR.

Taranaki Daily News, 25 February 1920, Page 5

A CLOSED DOOR.

TRADE WITH CHINA. MR HAROLD BEAUCHAMP OPTIMISTIC. THE PROPOSED CONSORTIUM. Mr. Harold Bcauehamp (chairman of the Bank of New Zealand) was interviewed by a Wellington Times representative with reference to the big project to exploit, by means of a consortium of international financiers, the .railway concessions heUU in China by various European, Japanese, and American financial groups, and in regard to the opening for New Zealand and Australian products that may result from the same. "This certainly appears to be a move in the right direction," said Mr. Beauchamp, "inasmuch as China has been a closed door for most of our products for some time past. Recently, when in Sydney, 1 was discussing this question with a large exporter of Hour, and he told me that, whilst he had a magnificent market in Java, lie was unable to make shipments to China, because of .th:> difficulty in financing, Although tht price in that country was, roughly, some £4 to £5 per ton higher than in .lava.

"China, as is 'well known," added Mr. Beauchamp, ''is a country of marvellous undeveloped resources'; and it seems to me there ought to he 'n large exchange of commodities hot-ween Now Zealand and Hint oountrv us soon as efficient financial arrangements can he made. As is well known, during the war very heavy shipments of moat, both pork and beef, a? well as eggsj |iwtrv«l and otherwise, wore m.ade from China to Great Britain and other parts of Europe. I was informed t'.at the quality of the beef was somewhat inferior, the carcases being extremely small, but steps, arc, T understand, already being taken to materially improve the character of the stock

"Unlike Japan, Ch'.na so far is not directly represented in this Dominion by any bank; nor have I hoard of any intention.on. the. .part of any bank in China to establish 'oranch.es or correspondents, in Australia or Now Ze a . land. This, however, might be a corollary of the big financial move referred to. 1 think that, in the meantime, at any rate, the balance of trade between us will be on the side of China. But, of com*e, the whole matter is in a very nebulous state at present, and it remains to be seen what can be done as soon a* this proposal assumes a more concrete form.. "It, will be noted that on the return to Canada of ; Sir Edmund Walker (chairman of the Canadian Bank of Commerce), who. recently made an extended tour in the Far' East, be expressed regret at the strong anti-Brit-ish and anti-American . feeling in Japan. It is to be hoped that this same feeling docs not extend to ChinaIndeed, that would appear 1 to be unlikely, a* China lias not shown the same spirit of aggression, particularly in the matter of trade, as was exhibited by Japan during the late war."