QUOTA FOR JAPAN

Wanganui Chronicle, Volume 77, Issue 109, 10 May 1934, Page 5

QUOTA FOR JAPAN

GAIN TO LANCASHIRE. Received May 9. 11.5 p.m. LONDON, May 9. i\n expert connected with the Lancashire cotton trade, told the Daily Telegraph that the Government’s restriction of Japanese textile exports to the colonies would result in Lancashire regaining trade totalling at least £3,000,000 in the next 12 months. JAPANESE GOODS 1 THE REDUCTION QUESTION NO ACTION IN NEW ZEALAND [ Per Press Association. 1 WELLINGTON, May 9. Kcfcrrring to Mr. Runciman’s statement in the House of Commons re Japanese trade, Mr. Forbes said the British Government had not made any request to New Zealand to reduce (Japanese importations of textiles. He pointed out that Mr. Runciman referred to colonics and not self-govern-ing Dominions, which were autonomous. A*sked whether New Zealand on her own initiative might deal with the Japanese competition, h<» said that the question had boon raised by witnesses before the recent Tariff Commissior, and no doubt had been referred to in its report, so the question of Japanese competition could be discussed when the report camo before the House. REMARKABLE INCREASE GROWTH OF COTTON EXPORTS. [ British Official WirclCM. I RUGBY, May 8. In regard to the measures to deal with Japanese competition in tin British home and colonial markets, an nounced yesterday by the Hon. W. Runciman, the extent to which Japanese competition has increased since the depreciation of the yen began at the end of 1931 is shown by the following figures: In the five vnars from 1927 to 1931, on which period the import quotas now introduced arc based, Japanese cotton piece goods entering the British colonial markets. including East East Africa, averaged 87,673,000 square yards yearly. In 1932 the amount had increased to 205,020,000 square yards. The figure for last year is not yet available, but it is known to represent a further large increase. It is pointed out that, although quotas in the colonial markets are applied gener>!y to all foreign import! of cotton and rayon goods, th«y will be in practice react favourably to foreign countries, who have also suffered from Japanese competition. COTTON QUOTAS JAPAN NOT IN HURRY. CAN AFFORD TO WAIT. TOKIO, May 8. Mr. Fusajiro Abe. chairman of the Cotton Spinners’ Federation, said Mr. W. Runciman’s announced quota! mainly affect Japanese trade in Hongkong, Straits Settlements, and East Africa. ‘‘There is no hurry about counter measures. We can well afford to wait while carefully studying the effects. I doubt whether the measures will relievo Lancashire- ><< expected.*’