JAPAN'S TRADE

Wanganui Chronicle, Volume 84, Issue 16, 19 January 1940, Page 3

JAPAN'S TRADE

NEW TREATIES ESSENTIAL. Though Japan has not reported any serious decline in trade following upon the war. it is acknowledged that for future developments the country must look to the United States and Russia. War. even if it has not already, must soon have its effect so far as trade with Europe is concerned. So it is that negotiations with Russia for improved trade relations take on a new aspect and the negotiating of a fresh treaty with the United States is imperative. According to the Mitsubishi Economic Research Bureau, future developments, so far as Japan is concerned, depend largely upon trade relations with the United States and Russia. And how important the conclusion of a treaty with the latter Power is may be learned from the fact that trade with that country during the nine months ended September 30 last was .only of the value of £37,500, equally divided between exports and imports, whereas during the correspondin’ period of 1937 exports to Russia were of the value of £1,350,000 and imports from Russia £750.000. Taking Japanese commerce as a whole, the bureau reports that the export trade with other countries up to mid-November was little affected by the European war. If there was a recession in exports during October compared with October of 1938, it is explained that the adverse movement was due mainly to new export regulations for shipments to yen-bloc counties. The rise in the price of rice in Japan has caused anxiety. By decree the increase is 13 per cent. At the same time, in order to adjust supply and demand, control of the trade has been tightened. The allotment of rise for distillation of sake (Japanese whisky) has been reduced. Consumption of white rice has been prohibited and the use of 70 per cent, polished rice is compulsory. Standard prices have been fixed for many other commodities.