INEQUITABLE COMPETITION

Waihi Daily Telegraph, Volume XXXVIII, Issue 9362, 17 April 1939, Page 2

INEQUITABLE COMPETITION

LASTING DAMAGE TO EXPORT INDUSTRIES DANGER OF SUBSIDISING “Although we still maintain our share of world trade, we cannot ignore the existence of practices new to the conduct of international commercial affairs, which distort normal economic channels of trade and may eventually inflict lasting damage upon our export industries,” said Mr Colin F. Campbell, at the National Provincial Bank annual meeting. “In times of difficulty, like the present, there may be a disposition to over-rate the permanence of what appears to us to be inequitable competition. Subsidising exports can only in the long run impoverish the nation pursuing shell a policy, and there is also evidence that some countries which have entered into bulk export and import bargains are hading actual business much less attractive than seemed likely to be the case. None the less, although there is some reason to think that inequitable and subsidised competition is not likely to be permanent, we must in view of the paramount importance of our export trade, be prepared by concerted action of industries concerned, together with Government support, (o meet such competition, and it is satisfactory to know that discussions have already taken place with this end in view.”