CHINA NEEDS GOODS

Gisborne Times, Volume LXXIII, Issue 12140, 30 December 1933, Page 7

CHINA NEEDS GOODS

— —*■ AIACTJINELY AND EQUIPMENT OPPORTUNITY FOR BRITAIN (British Official Wireless.; RUGBY, Dee. 28. The possibilities for increased trade between China and Britain and the need.-tor greater contractbetween British manufacturing interests and Chinese business men, are discussed in a report on trade and- economic conditions of, China by the British commercial ' councillor at Shanghai, Air Louis Beale. He emphasises that although the strength and wealth of China should rest on her agriculture, yet in 1932 10 pe>* cent, of the total exports were wheat and rice , and 10 per cent, sugar and other foodstuffs. Meanwhile, many of China’s industries are declining, and less of her many fine products are available hr suitable for export. At the same time, Mr Beale praises the Government plans for the pacification and reconstruction of the countiy. An example is the fouryear industrial plan for increasing •the production of steel goodsi. Tho outstanding weakness of the financial position is the continual heavy default o railway obligation to foreign lenders and 1 the rehabilitation of railway ftnane and c.o-operation is a pre-requiiSiite of progress. He considers) that the greatestmarket in China from now .onward will Consist of capfLil goods, including machinery and equipment, opportunities for which ought to more than offset the probable loss to British trade consumable goods. The keynote of British participation in the development of China must be investments and co-opera-tion with Chinese, interests.