CHINA'S TURN NOW.
DEPRESSION COMES LATE.
TRADE SUFFERS SEVERELY. (By Telegraph.—Press Association.) WELLINGTON, Monday. "Hit by the depression later than other countries China is now suffering severely from the slump and trade is in a deplorable condition," said Mr. J. A. Urquhart, formerly director of a large business in Shanghai, who arrived in Wellington to-day by the Monowai. As a recent cable message announced, he said, all silver had been withdrawn and the only legal tender was Government banknotes. One encouraging sign for China, however, was the good understanding which had now been established with Japan, but this understanding adversely affected the trade of British and other foreign business houses which were meeting tremendous competition from Japanese firms. The understanding had been reached after China had experienced the effects of her boycott of Japanese goods and had discovered that she was not benefiting from it.
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Bibliographic details
Auckland Star, Volume LXVI, Issue 268, 12 November 1935, Page 17
Word Count
145
CHINA'S TURN NOW.
Auckland Star, Volume LXVI, Issue 268, 12 November 1935, Page 17
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