CHINA
A9
Of the total loss in round figures of $77 million (representing a. decline. of 12.6 per cent.) more than half, or $39.3 million, can be placed against the account for textile fibres, which contributed debits of $28.7 million against, raw silk and $15 million against raw cotton, fortunately offset to some extent by improved figures for ramie, hemp, goats' hair, fly cotton, cotton waste, and sheep's wool. Other important losses occurred under the headings of cotton piece goods ($10.8 million), cotton yarn ($3,7 million), groundnuts and groundnut products ($6.5 million), eggs and egg products ($6.2 million), tin ($6.1 million), silk piece goods ($4.3 million), and wood oil ($4 million). From the above table it will be seen that, although increases in value were recorded against quite a number of the groups, in no cases were such increases of noteworthy extent.
SHIPPING AND FREIGHT IN 1934.
The following statistics for the years 1932-34, taken from the British "Board of Trade Journal" and the London "Economist," indicate a recovery in the shipbuilding industry thoughout the world and an increase in traffic through the Suez and Panama Canals:
1932
1933
1934
Million Tons Million Tons Million Ton 3
Mercantile shipping launched Mercantile shipping under construction. Mercantile shipping using Suez Canal Mercantile shipping using Panama Canal
·
J.
0.7
0.5
1.0
0.8
0.8
1.3
27.2
29.4
30.6
22.6
25.3
29.0
As compared with the figures for 1933, therefore, there was a 100 per cent. increase in new tonnage launched, a 63 per cent. increase in tonnage under construction at the end of the year under review, a 4 per cent. increase in tonnage using the Suez Canal, and a 15 per cent. increase in the tonnage using the Panama Canal. As regards the statistical position of world shipping, a reduction of 4 million tons in available shipping has been recorded for the period June 1931 to June 1934, but, as laid-up shipping has been reduced from 14 million to 7 million tons during that period, mercantile shipping now in commission actually shows an increase of 3 million tons during the last three years. As it is claimed that a 50 per cent. reduction in fuel costs can be achieved for modern ships as compared with vessels constructed eight or ten years ago, there is no doubt that the recovery in shipbuilding indicated by the above-quoted statistics speaks well for the future of the shipping industry, but, in the meanwhile, it also would appear that the present statistical position of the carrying trade has been weakened by an increase in world tonnage incommensurate with the increase which has taken place in world trade in merchandise, and that any improvement in traffic statistics such as those shown above for vessels using the Suez and Panama Canals, therefore, is more likely to betoken greater competition than a healthy increase in the quantity of cargo offering. With regard to the particular figures quoted above for the tonnage of vessels using the Suez Canal, however, it is noteworthy that the total trade in merchandise of the Straits Settlements increased in value by over 36 per cent. during 1934, that the same total for Japan increased by 18 per cent., that the total exports by the "Conference" shipping lines from Shanghai (a good guide to the quantitative movement of cargo from China as a whole) via Suez showed a quantitative increase of 28 per cent., and that both the inward and the outward trade of India increased during the first nine months of the year under review. The 1934 returns for other countries east of Suez are not yet available
.
Reference to the Shipping tables given in this volume will show that the total of the statistics for entrances and clearances at Chinese ports amounted to 140.5 million tons as against 137.4 million in the preceding year, a gain of 3.1 million tons or a little over 2 per cent. Analysed by flag. British vessels. took the leading position with 58.9 million tons, followed by Chinese shipping with 41.2 million tons, Japanese shipping with 20.1 million tons, American