NOTES AND COMMENTS

New Zealand Herald, Volume LXX, Issue 21548, 20 July 1933, Page 10

NOTES AND COMMENTS

JAPANESE COMPETITION A report on "the menace of Japanese competition," issued by tho Federation of British Industries, contains tho following:—"lt seems impossible to doubt that tho difference in wages, labour conditions and standard of living makes it impossiblo for tho East and "West to compoto on equal terms in articles in whoso costs wages form a substantial part. . . . It should be fully appreciated by all concerned that, while tho balance of trade with any Eastern country may rest with tho British Empire, in fact the balance of employment is against tho British Empire. It ifc almost impossiblo to translate currency figures into hours of employment, but it must bo obvious that whero export and import values of goods balance, a country with tho lowest conditions of employment has the greatest sbaro in employment hours. Tho problems of equivalating by tariffs or other means tho lower standard of employment in tho East with tho higher standards of the West, in respect both to foreign and Empire territories, is one of grave import to United Kingdom manufacturers. In plain words, unless rice is made equivalent to beef, the beef standard will ceaso to exist so far as many industries are concerned. At the moment, while it is true that tho Eastern countries taken as a whole havo not advanced very far along tho road to industrialisation, many of them, including even some under the British flag, are coritemplating plans for manufacturing for export. The leader in this movement is Japan, and, unless something can be done to control her activities, her example is likely to be followed by others, with disastrous consequences to tho sale of British manufactured goods all over tho world."