Japan To Begin Export Drive

Press, Volume LXXXVII, Issue 26523, 11 September 1951, Page 7

Japan To Begin Export Drive

(N.Z. Press Association—Copvrtght)

(Rec. 10 p.m.)

LONDON, September 10.

Japan, with a basic wage of 10,000 yen (£10) a month, is back in the market to undercut everyone in everything, says the Tokyo correspondent of the “Daily Mail.”

He says that behind the scenes there are big changes coming which will shatter the delusions of some Americans that the Japanese have developed a “spiritual affection for their conquerors.” Tbe correspondent says that Japan has been economically well off since the start of the Korean war, which at the end of its first year had meant about £85,000,000 in dollars to Japan for goods and services supplied.

He adds that Japan now has more dollars in its coffers than any other country outside the United States, with the exception of Britain.

Forecasting a great shipbuilding and export drive, the correspondent says that shipping will cause most concern for Britain. Although the Japanese merchant navy was practically wiped out during the war, Japan at present had just under 1,000,000 tons. “From to-day, the wraps are off. Protests from Britain Will be politely shelved. Just as Britain must export or die, so must Japan. Over in Hong Kong, dozens of merchants are waiting happily for the invasion of Japanese salesmen they know is inevitable." The correspondent says that the Japanese textile industries are the only industries still below pre-war level. The over-all industrial production index of 133 is the same as that reached in 1938, when Japan was going all-out preparing for war. Summing up, the correspondent Bays the Japanese lost the war, but won the pence.