JAPANESE TRADE

Wanganui Chronicle, Volume 76, Issue 108, 10 May 1933, Page 7

JAPANESE TRADE

THE DEPRECIATED YEN. BRITAIN CORNERED. LONDON, April 29. The derangement of the normal Japanese trade balance, owing to the depreciated yen, says the Tokio correspondent of the The Times, is obscured by fears that Britain desires to penalise Japan for her Geneva policy. It is feared, also, that Britain seeks to exploit the Ottawa agreements in the interests of Lancashire. The Japanese threaten to take re prisals against Australian wool and Indian cotton. This attitude, adds the correspondent, appears to be largely bluster, owing to the manufacturers’ dismay at losing the Indian trade. Officials prefer to await the result of the Government’s negotiations before tho Indo-Japanese Agreement lapses. It is learned that the Foreign Officerequested the Japanese Ambassador to call in connection with the delicate ■ituation caused by the export, of cheap Japanese goods to various parts of the Empire. Further discussions have ben arranged. It is difficult, however to see what can be done. The textile interests continue to press the Government, but the Anglo-Japanese trade treaty ties Britain. Moreover, Britain is powerless in view of the Japanese workers’ accept anre of penurious wages. Sir F. O. Lindley, British Ambassa dor to Japan, will discuss the problem when he arrives on leave shortly. The Manchester Chamber of Commerce has been further discussions with Mr. S. M Bruce, who has forwarded the papers to Australia.