SOVIET FIVE-YEAR PLAN

Otago Daily Times, Issue 21267, 23 February 1931, Page 7

SOVIET FIVE-YEAR PLAN

“ MENACING EFFICIENCY.” EFFECT ON WORLD’S MARKETS. (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, February 21. (Received Feb. 22, at 10 p.m.) There is considerable misgiving in Australian grain circles concerning the ultimate effect of the Soviet’s five-year plan because those who have examined the Soviet wheat farm' say it is on a scale which dwarfs anything attempted in Australia. Furthermore, it has already achieved a degree of menacing efficiency. An illuminating revelation of” other aspects of the five-year plan has been given by M. Jean Parmentier, one of tlie French experts who framed the Young Plan. He has just toured Russia, and he says that she is shaping to become one of the world's greatest exporting countries, and will soon be producing 17,000,000 tons of pig iron annually, half of which will invade foreign markets at prices with which Britain and Germany will be unable to compete. It will not be long before she is flooding the world with petrol, the output of which during the last two years has increased 70 per cent, to 4,000,000 tons.