BOYCOTT TALK.

Auckland Star, Volume LXVIII, Issue 251, 22 October 1937, Page 9

BOYCOTT TALK.

AUSTRALIA AND JAPANESE GOODS.

WHO WOULD SUFFER MOST?

The agitation in Australia for a boycott of Japanese goods, if successful, may mean "the sacrifice of the interests of a large number of the people in Australia" and "may lead to the destruction of the friendly relations between both countries."

This warning is given in a statement issued by the Japanese Chamber of Commerce, of Melbourne and Sydney, which urges "grave consideration" of the economic relations between the Commonwealth and Japan. It points out that during 1935-36 Australia's exports to all countries of the East were valued at £20,384,741 sterling, and imports from them at £14,954,922, leaving a favourable balance of £5,429,819. In her trade with Japan, apart from Kwangtung and Manchukuo, Australia exported goods worth £14,100,784, and imported £4,9(59,571 worth. Exports to China were valued at £968.360, imports from China at £657,178. Australia had an adverse balance of £3.905,090 in her trade with Netherlands Indies and one of £1,955,102 in her trade with India.

"Thus, exports to Japan (including Kwangtung and Manchukuo) amount to £14,800.000, which is about 70 per cent of the total exports to Eastern countries; whilst exports t- China are as small as £970,000. constituting not more than 5 per cent of the tot£.l exports; and it must be noted that even the greater part of this 5 per cent is taken up by wheat and flour business, which is handled by Japanese firms," says the chamber. "The import of Japanese goods amounts to about £5,000,000. which is about 33 per cent of the total imports, whereas imports from China are. roughly. £600.000, occupying only 4.4 per cent of the total imports. Moreover, as regards balance of trade Australia enjoys a favourable balance of £9.800.000 in her trade with Japan, which is as big as 85 per cent of the total favourable balance of her trade with the East; while the favourable balance of her trade with China is only about £310,000, which is 2.7 per cent of the total.

"It will be clear that the net balance favourable to Australia of about £5,000.000 is only attained by the existence of trade with Japan. If once trade with Japan is hampered, the above favourable balance will be inimediatelv changed to an unfavourable one, which will be proved by the fact that, according to the newspapers, the decrease in trade with .Tanan in 1936-37. caused by the last trade dispute, turned the abovementioned favourable balance of £5,000.000 into the unfavourable balance of £1.300.000."