WORLD TRADE
LEAGUE COMMITTEE’S REPORT. (by CABLE—PRESS assn.— COPYBIGET.] GENEVA, September 6. Although it is too early to say that® the contraction of world trade marks ® the beginning of a depression that 3 will last as long, even if it is not so acute, as the last one, the League of Nations Economic Survey expresses the belief that the events of the next ' S . few months will decide whether it will merely prove a recession, or a depres- ® sion trend. ? International trade has, the survey says, revealed three important as- ® . pects. ■ ■ .. (1) The quantum of world trade de- £! clined seriously. (2) The relations between export ft, prices and import prices are. more un- !* J favourable to the raw material and foodstuffs whose trade balances have seriously been reduced. (3) The trend of trade has moved $ advantageously for the industrial countries, due, largely, to a reduced imports demand for the United States. .3 '; The survey states its compilers do £ y not fear an extensive banking financial ' ! , crisis similar to that of 193.1. More- •! - over, they state, monetary authorities ®
are readier to adopt expansion so as to offset depression. I
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Greymouth Evening Star, 7 September 1938, Page 7
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188WORLD TRADE Greymouth Evening Star, 7 September 1938, Page 7
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