JAPANESE SHIPS.

Manawatu Standard, Volume LVII, Issue 72, 24 February 1937, Page 9

JAPANESE SHIPS.

INROADS IN PACIFIC. ALARM IN BRITAIN. “British shipping circles view the trade position in the Pacific with increasing alarm,” states Mr H. C. By water in the Daily Telegraph. “It is realised that Empire shipping is waging a desperate and losing .fight with heavily-snbsidised foreign rivals. “Still more serious than American competition, because it is on an infinitely larger scale, is the Japanese competition in the Eastern, lar Eastern, and Australian trades.” Referring to new legislation designed to increase Japan’s mercantile tonnage from 4,000,000 to 8,000.000 tons in a few years, Mr Bywater points out that the proportion of Japanese tonnage to the world’s total, which is already twice her proportion of trade to the world’s trade, would eventually be four times her share of the world’s trade. Anart from subsidies, Japanese shipping benefits greatly from currency depreciation compared with sterling. “The British Government takes a serious view of the situation, Mr By* water proceeds, “and it is understood will discuss the matter fully with the Dominions at the Imperial Conference. The Imperial Shipping Committee’s report is certain to contain startling disclosures regarding the inroads already made into British trade in the Pacific, ana is expected to recommend prompt and drastic action.