JAPAN'S TRADE DRIVE

Poverty Bay Herald, Volume LXIII, Issue 19133, 30 September 1936, Page 13

JAPAN'S TRADE DRIVE

HEAVY BRITISH LOSS ANXIETY IN SINGAPORE SINGAPORE, July 20. British traders welcome an outspoken loading artice in the Straits Tjmos dec.la rinj. l ; that drastic discriminatory action' against Japanese trader-;, shippers aiii! hankers is imperiilive, as otherwise Lhe Japanese within a few years will dominate the'wholo of llio colony's trade and banking. The newspaper gives as an example, the Japanese combination between

rubber producers, buyers, hrokew, shippers, insurance firms and bankers. Jt says:—

' "With, these associations it 5" possible —and it is done daily —for Japanese concerns to quote as much as half a cent a pound higher for tlio purchase of rubber at Singapore ami yei offer if for sale in New York in a competitively favourable position. "One British firm that used to ship "500 tons monthly lias not shipped a single pound this year. All that trade has gone lo Japanese shippers." The paper declares thai the British trader does not have Urn advantage of subsidised shipping nor the advantage of combination between trader and carrier. It is estimated that 75 per cent- of the rubber trade between the East and Now York is now in thej

hands of Japanese, whereas two years ago they had only .10 per eeat. The newspaper urges that thy" Japanese should be excluded by the British Bankers' Association enfiorcing the same, restrictions as British .bankers encounter in foreign countries.