PROBLEM TO BE FACED

Waikato Times, Volume 132, Issue 22152, 25 September 1943, Page 5

PROBLEM TO BE FACED

INDUSTRY IN DOMINIONS UNEASINESS IN BRITAIN (Received Sept. 25, 11 a.m.) LONDON, Sept. 24 Reflecting the hopes of a closer approach of peace city circles arc showing increased appreciation oi' possible peace-time opportunities for Britain’s export trade and the increased industrialisation of the Dominions. says the Associated Press. The closer the armistice approaches the more British industrial and financial circles become aware of the impact of wartime-encouraged development in other part of the Empire. There is grave uneasiness regarding tne Dominions’ post-war absorptive capacity for British industrial products. The feeling prevails that in the immediate post-war years the satisfaction of arears of civilian demands for consumer goods will keep many British factories fully employed. On the other hand there is fear that former markets in the Dominions will no longer exist in their former dimensions owing to the war-time-accelerated development of local industries. Many acute observers discern in this apparent conflict between the Empire and home manufacturing industries a source of potentially grievous misunderstanding unless faced in time. There is now a far greater Dominions drive to establish a more balanced economy. While the city, as the financial centre, deprecates any concessions to what was previously termed economic nationalism, even the most orthodox circles realise that increased industrialisation in Australia and New Zealand is a fact to be faced, if not perhaps welcomed.