JAPANESE PENETRATION

Evening Star, Issue 21715, 9 May 1934, Page 9

JAPANESE PENETRATION

PROTECTING BRITISH INDUSTRIES MR RUNGIMAN'S ANNOUNCEMENT Press Association —By Telegraph—Copyright. LONDON, May 8, The effect of the measures announced by Mr Walter Runciman (President of the Board of Trade) is a two-thirds reduction of Japan’s cotton and rayon exports to colonial markets. Textile shares rose sharply following Mr Runciman’s announcement. Lancashire members of the House of Commons are delighted, and hope the dominions will follow suit and come to agreements on similar lines. OPINIONS IN JAPAN TOKJ.O, May 8. The Government and industrialists are generally taking a calmer view of the British restrictions on Japanese trade. Their study of Mr Runciman’s announcement of quotas diseases that they will have a comparatively small effect on Japanese trade. The dominions arc not affected, and there is an inclination to discount the suggestions of a trade war mentioned in London despatches. FLOODING INDIAN MARKETS \ CALCUTTA, May 8. Indian markets, ■ which are already flooded with cheap Japanese goods, are faced with another problem in the shape of Japanese potatoes and fruit, which have been brought from Japan by ships in ballast and sold considerably cheaper than Indian products. INTENSE COMPETITION SIGNIFICANT FIGURES. (British Official Wireless.) RUGBY, May 8. (Received May 9, at noon.) In regard to the measures to deal with Japanese competition in the British home and colonial markets announced yesterday by Mr Rnnciman, the extent to which Japanese competition has increased since the depreciation of yen began at the end of 1931 is shown by the following figures:— In the five years from 1927 to 1931, on which period the import quotas now introduced are based, Japanese cotton piece goods entering the British and colonial markets, including East Africa, averaged 87,673,000 square yards yearly. In 1932 the amount had increased to 205,020,000 square yards. The figure for last year is not yet available, but it is known to represent a further large increase. It is pointed out that although quotas in the colonial markets are applied generally to all foreign imports of cotton and rayon goods, they will in practice react favourably to foreign countries, which have also suffered from Japanese competition.