WORLD TRADE
A SERIOUS DECLINE CRITICAL MONTHS APPROACHING Press Association—By Telegraph—Copynghi GENEVA, September 6. Although it is too early to say that contraction of world trade marks the beginning of a depression lasting as long, even if not so acute, as the last, the League of Nations Economic Survey believes that the events of the next few months will decide whether it is merely .a recession or a depression trend. International trade revealed three important aspects, as follows: (1) The quantum of world trade had declined seriously. (2) The relations between export and import prices are more unfavourable to raw materials and foodstuffs producers, whose trade balances have been seriously reduced. (3) The trend of trade has moved advantageously for industrial countries, due to the largely reduced imports demand from the United States. The survey does not fear an extensive banking” and financial crisis similar to 1931. Moreover, the monetary authorities are more ready to adopt a policy of expansion to offset a depression.
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Evening Star, Issue 23056, 7 September 1938, Page 9
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164WORLD TRADE Evening Star, Issue 23056, 7 September 1938, Page 9
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