ADVANTAGE TO AMERICA

Otago Daily Times, Issue 26354, 8 January 1947, Page 5

ADVANTAGE TO AMERICA

TRADE CONFERENCEDECISIONS ECONOMY OF SMALL NATIONS ENDANGERED' (Rec. 0.15 a.m.) • CANBERRA, Jan. 7i Australia’s entire economy was endangered by the finding of the Preparatory Trade Conference in London, said Mr Latham Withall, director of the Associated Chambers of Manufacturers, to-day. Accusing the United States of “ hypnotising the worfld with propaganda,” Mr Withall said that the adoption of the findings would perpetuate the shackles imposed on Australia’s industrial development. Small countries would be thrown wide open to goods pro - duced by the largest, wealthiest, and most highly industrialised countries. Three items on which agreement was. reached particularly concerned Australian manufacturers—that members of the International Trade Organisation should grant each other most-favoured-nation treatment in respect of all customs matters, that existing preferences with an important effect on countries' economies should be expected from the most-favoured-nation clause pending elimination by negotiation, and that the preparatory committee should execute binding tariff agreements prior to a full-scale conference to be held later this year. The Federal Cabinet will next week discuss the report of the Australian delegation to the November conference in London and arrange for representation at a further conference in Geneva next April.