A CLOSED DOOR

New Zealand Times, Volume XLVI, Issue 10521, 24 February 1920, Page 5

A CLOSED DOOR

TRADE WITH CHINA .

MR HAROLD BEAUCHAMP OPTIMISTIC. THE PROPOSED CONSORTIUM,

Mr Harold Beauchamp (chairman of the Bank of New Zealand) was interviewed by a "Times" representative yesterday with reference to the big project to exploit, by means of a consortium of international financiers, tho railway concessions held in China by various European, Japanese, and American financial groups, and in regard to the opening for New Zealand and Australian products that may result Ironi the same.

"This certainly appears to bo a raovo in the right direction,' said Mr Beauchamp, "inasmuch as China, has been a closed door for most of our products for some timo past. Recently, when in Sydney, 1 was discussing this question with a largo exporter of flour, and he told mo that, whilst he had a magnificent market in Java, he was unablo to make shipments to China, becauso of the difficulty in financing, although tho price in that country was, roughly, somo £4 to £5 per ton higher than in Java.

"China, as is well known," added. Mr Beauchamp, "is a country of marvellous undeveloped resources; and it seems to me that there ought to be a large exchange of commodities between New Zealand and that country as soon as efficient financial arrangements can be made. As is well known, during tho war very heavy shipments of meat, both, poik and beef, as well as eggs, preserved and otherwise, were made from China to Great Britain and other parts of Europe. 1 was informed that the quality of the beef was somewhat inferior, tho carcases being extremely small, but steps are, I understand, already being taken to materially improve the character of the stock.

"Unlike Japan, China so far is not directly represented in this Dominion by any bank; nor have I heard of any intention on tha part of any bank in China to establish branches or correspondents in Australia or New Zealand. This, howevor, might bo a corollary of the big financial move referred to in the 'Times' this morning. I think that, in tho meantime, at any rate, the balance of trade between us will be on the side of China. But, of course, the whole matter is in a very nebulous state at present, and it remains to be seen what can be done as soon as this proposal assumes a more concrete form. "It will be noted that on the return to Canada of Sir Edmund Walker (chairman of the Canadian Bank of Commerce), who s recently made an extended tour in the Far East, he expressed regret at the strong anti-Bri-tish and anti-American feeling in Japan. It is to be hoped that this same feeling does not extend to China. Indeed, that would appear to he unlikely, as China has not shown the 'same spirit of aggression, particularly in the matter of trade, as was exhibited by Japan during the late war."