BRITISH FIRMS IN SHANGHAI
WITHDRAWAL MAY BE NECESSARY
(Rec. 9.30 p.m.) LONDON, April 22. British firms in Shanghai are concerned at the delay in negotiations for the establishment of British diplomatic relations .with Communist China and many of them are seriously considering a withdrawal, says Reuter’s diplomatic correspondent. ,
The cost of keeping British concerns in business is estimated at £250,000 a month and unless the prospects of a trade revival brighten, a withdrawal may be necessary. Such a decision would affect factories, banks, and shipping facilities and would mean the evacuation of the British community totalling several thousand. Diplomatic observers think that a collective decision by British firms to withdraw would have serious repercussions on the whole trend of British policy on China. Many believe China’s need for foreign trade must decide even a Communist Government to maintain British business machinery fh Shanghai, but pn the other hand the Peiping Government may consider that it must force out foreign interests to uphold its owji political dectrine, irrespective of the effect on China's economy.
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Press, Volume LXXXVI, Issue 26095, 24 April 1950, Page 7
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173BRITISH FIRMS IN SHANGHAI Press, Volume LXXXVI, Issue 26095, 24 April 1950, Page 7
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