WORLD TRADE

Manawatu Standard, Volume LVII, Issue 153, 31 May 1937, Page 8

WORLD TRADE

GERMAN EXPERT’S VIEW. “IF CHAOS CONTINUES.” “If this chaos and the bewildering condition of world trade continues, there can be no doubt that eventually the world will be faced with a state of affairs that can only be catastrophe, declared Dr. Markau, president of the German Chamber of Commerce, spea-k----ing in London at the dinner of the German Chamber of Commerce for the United Kingdom. , ■ The principal impediments to world trade development, he declared, were unsettled currencies, recent devaluation, Customs duties, mainly of a protective nature, the clearing systems, and the restrictions due to quotas, import licenses, and general currency regulations. , , ~ “As fa.r as Germany is concerned, he said, “the reason for the application of her restrictive regulations can be directly traced to the inheritance of the Versailles Treaty” (says the Morning Post). Sir Stephen Demetnadi, president of the London Chamber of Commerce, said it was generally recognised that of all bi-lateral agreements between nations now in existence—ami they numbered 21 A none had worked more smoothly or given greater satisfaction than that be tv een Britain and Germany. . “I do not want it to be understood that I advocate bilateral agreements, because they make threecornered trade impossible, and multi - lateral agreements would release ia volume of trade which the present arrangements are stopPl Herr Justus, of the Hamburg Chamber, said a glance at the Oerman t, l statistics would show that a per cent, self-sufficiency was neither possible ■nor desirable. Nothing but Germany’s minimum requirements « law materials and foodstuffs were to produced at home. The remainder was to be imported from abroad. Herr von Ribbentrop (German Ambassador) said that the business man of the City of London was the very man to help promote good feeling between the nations. If the world had been rather troubled during the last few years, his common sense would hna a way to better conditions. , , Herr von Ribbentrop recalled that he studied in London before the wa , and later he had come to London on business. On one occasion he had to see an important firm, and it was on j after a considerable search that lie found a little office in a little street up a little alley. . . , , “I came away thinking that here was one of the miracles of the City ot London,” he added. “In that little office was a man sitting at a little desn engaged in his business not only m the British - Empire, but in almost eveiy country of the world. I like these sunplo habits of the city.