Recession or Depression?
Contraction of World Trade UNFAVOUKABBE TO FOODSTUFFS PRODUCERS United Press Association.— By Electric TeiegTuph.—copyright. B*ceiv«d Tuesday, 10.5 p.m. GENEVA, Sept. 6. Although it is too early to say that the 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 the events of the next few mouths will decide whether it is merely a recession or a depression trend. international trade revealed three important aspects: (1) The quantum of world trade has declined seriously. (2) The relations between export and import prices are more unfavourable to raw material and foodstuffs producers whose trade balances are seriously reduced. (3) The trend of trade has moved advantageously for industrial countries due largely to the reduced imports demand from the United States.
The Survey does not fear an extensive banking and financial crisis similar to 1931. Moreover, monetary authorities are readier to adopt expansion to offset a depression.
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Bibliographic details
Manawatu Times, Volume 63, Issue 211, 7 September 1938, Page 5
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166Recession or Depression? Manawatu Times, Volume 63, Issue 211, 7 September 1938, Page 5
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