EXTERNAL TRADE

New Zealand Herald, Volume LXXIII, Issue 22402, 24 April 1936, Page 20

EXTERNAL TRADE

NEW ZEALAND'S POSITION IMPORTS FROM JAPAN Changes in the nature and distribution of New Zealand's overseas trade •were discussed by Dr. E. P. Neale in an address to the Auckland branch of the Economic Society of Australia and New Zealand, in the University College Hall. The proportion of vessels coming to New Zealand from Britain in ballast had been increased, owing to the excess of exports from the Dominion, a curtailment of borrowing abroad, the raising of the exchange and exporters boihg able to secure better terms from the Shipping Conference than tho comparatively unorganised importers. Tho speaker traced the periods of growth of various exports, commencing with timber, whale-oil, and flax, proceeding to wool and gold in the 'so's and '6o's, to meat in the 'Bo's and to butter and cheese in the present century, and pointed out tho decline in the The check in the rate of world population, together with recent quota .proposals, had provided a shock to those who thought there was an indefinite scope for expansion of exports of raw materials and foodstuffs, and a reorientation of views on this question was necessary. Dr. Neale drew attention to the decrease in the proportion of imports from Britain and Australia and the increase from North America, Japan and certain Continental countries. Although much was heard of the menace of Japanese competition, the excess of imports into New Zealand from this source over exports had only once exceeded £500,000 in tho past 10 years. It seemed unnecessary to apply discriminating duties against a country whose oversea trade did not show a substantial excess of exports. Why did not New Zealand enjoy the cheap goods of Japan, and turn its own labour and capital in some other direction? Until there were signs of slackening in the rates of population increase in Japan, increased competition in manufactured goods must be regarded as the only alternative to territorial expansion.