CONTRACTION OF TRADE
IS IT DEPRESSION?
WATCH AT GENEVA
NEXT FEW MONTHS WILL
DECIDE
GENEVA, September 6.
i Although, it is too early, to say that die present contraction of World trade marks the beginning of a depression which will last as long, even if it is- not so acute, as the last, the League of Nations Economic Survey, just issued, believes that the events of the next few months will decide whether it is merely a recission or a definite trend towards depression. International trade revealed three important aspects:— Sj j (1) The quantum of world trade has declined seriously. (2) Relations between export andj import prices are more unfavourable to raw material and foodstuff producers, whose trade balances are seri- \ ously reduced. (3) The trend of trade has moved advantageously for industrial countries, due largely to the reduced' demand for .'imports from the United States. s , !
The survey does not fear an extensive banking or financial crisis similar to 1931. Moreover, monetary authorities are readier to adopt an. expansion' policy to offset the depression.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19380907.2.94
Bibliographic details
Evening Post, Volume CXXVI, Issue 59, 7 September 1938, Page 11
Word Count
176CONTRACTION OF TRADE Evening Post, Volume CXXVI, Issue 59, 7 September 1938, Page 11
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in