THE QHINA MAIL, FRIDAY, MARCH 15, 1957.
HK BANK MEETING: CHAIRMAN'S REVIEW
(Continued from Page 1)
it
when
from
In
thousand purchases.
a muchi
approach of the
havo
was
L
"
The
Is limit to the extent to strain on the Colony's resources/ the year increased by 10% to targets of the plan being revised. | drop in her sterling holdings as Government expendituro. The amount of unrest and
uf
Unfortunate-
y durag the year under rev.ew agileultural production did not
marked increase it -how any
Tremendous Task
Housing
of
D11
1951.
under
Finances
and when this is j'active and the cost connues to influx
China and the a growing part in the Colony's structure. In considering the U.S.$300 millions as opposed to time of writing, it appears that pong Som natural
activity in most sectors was it opened it will enable this new be a heavy drain. Other prob- incrense -- OXOCSA of economy. No less than 488 new second five-year plan Mr Chou U.S.3800 millions in 1955.
a higher level than in 1935, Ex- port to serve the capital.
lems spring to mind, such as tho As the births over deaths-induences factories were registered during En-ai stated that it was their
Fall In Holdings time is no neccusury,
larger which parts were
Thailand
adjustment of racial interezia report by the Council for Tech- every sector of the community's the year as opposed to 372 In policy to build "with heavy li
to due mainly
Increases in
tho and the rotations between Bustry as its core a compre And it compelled the 1955, nical Co-operations in South and life
In spite of Japan's favour shipments to Europe on the Stock Ex-hensive Industrial systeni, within
and Asla
but Federation and Singapore, Business September to
The cautious optimism I ex- Kovernment South-East Asia 1958/6 puta
a fall of about three five-year plans. Special able overall balarice her holdings as trade with the traditional pressed last year regarding the the present government has built reintroduce the quota system for change showed food is the basic sector of pro-
of the United Stater future would be given to the of sterling have shown a con-market Chinese
entering the Colony, one-third compared with 1055)al Industry and it riderable drop during the year showed a slight fall. Due 19 to be borno out by events in
of Thailand appeared up a considerable store of good- duction" und bis in bonse out
will which should provided That this move was inevitable but the market was in by a study
of licences imports of conditions in
curtallment was borne out by the fact that more healthy state and the boon was hoped to raise the national tud negotiations, which where it 19
to have various countries
spent itself. Income by 00% by 1962. This been in progress in London since were on the whole lower, sor-1950. There were signs of more tolerance is shown on all sides, where
during the six-and-half month seemed
October, have recently conclud- ticularly consumer goods, but political stability and the dif enable them to get off to a good rise was, however, before the dis- usually found that a favourable
these restriction although the number of wers Lind values continued to
pro-turbances in castern Europe; and trade agreement. It seems that purchases of machinery.
died with the signing of a new there was an
Increase in theferences between rival person-start. harvest is the best tonic for
theauties, which had in the past lifted there were over fifty arty
A hampered was since that time there is evidence pertles that changed hands their general economie health
administration, Recent events in eastern Europe thousand Immigrants and this considerably lower with buyers that the lesson of these events / the delay in reaching this agree~ | result the foreign exchange re-emed to be less marked. Un-
if allowed to continue, coupled have shown that, even where
with the natural increase of❘ becoming more selective in their coupled with a less satisfactory ment was caused by the different į serves showed a slight increase fortunately the elections, which two govern- but this was still dependent tot were held at the end of Inst
The present position of the #gricultural output than Was the whole cognomy of a cou-
About seventy-five
ments.
finances of the Federation was United States Japan considered the large extent en The bank clearing figures for expected, has resulted in the ruthlessly planned to the
month, resulted in a certain dealt with clearly and concisely accumulation Bxed capital, persons, would have Imposed
justification of £350 It is significant also that free creased imports by the sterling coupled with the reduction
for requesting in expansion
It was by Colonel H. 8. Lee, the Minis- of the there
necessary to declare a state of ter of Finance, when he intro- which I would be quite unable around the equivalent
millions which hos only been enterprile has been given greater area of her goods; but the United the imports of consumer goods, secin which industrialisation can be a bear.
These disturbances duced his first budget. The es- emergency, exceeded once before, in the year reopen minor Industries and Kingdom argued that, as sterl-had is effect
to have been brought timate showed a prospective de usabsı! forward unless agricul
handicrafts and a free market in could now be used for many tended
on prices which
but the fuct that m lure kreps paer,
control bu ing has been permitted in many
outside the
to rise while a con- they occurred shows that au fait of M$145 millions for 1057 siderable increase in the supply lot is necessary in any op-abic general
which would reduce the realis- Colony's Finances
Items in dally use, both of which types of payment
enue balance to sterling area, balanced trade with of money, gave The Interim
revenue roport
em likely to benefit the con- Individual countries was relle of inflationary
warning of the
praisal of events in this coun-
M.$130
millions by dengers Special Commitice
Alçad
by the end of the
Financial sumer. During the year certain bilateralism and was now out of There were referred to by Once again the Asia and while not in any way
thetry, Economie conditions wore
This was the year. have
considered in Hongkong, which
bren date. For the same reason the President in his State of the the Stabilisation Fund ironed to be below the safety margin
Butisfactory and the operation the overlooking The part that
I mentioned last year, estimates Secretary, Mr A. G. Clarke, in other relaxations"
the Legislative made such as the campaign to his speech in weather conditions can play, that
Address even to prevent living
in which he out excessive fuctuations in ex- and, for this reason, changes in the employ "Intellectuals" without United Kingdom does not want Nation Counell when he presented
now payments stated that "we will continue to change rates particularly added natural dindards from deteriorating Budget, was able to report a very
too much enquiry into their to enter into a
agreement.
while the over-direct and indirect taxation were our foreign exchange al-stocked condition asters such as Hoods, one is left will be necessary to
to build "the
Apollent activities and the per-
adjust scary state of affairs.
The budget which has recentlocations the demand
of the con- brought into force, Briefly these for with the Freling that in many equ
not new town,
of just under H.K.$15
$16mission for the circulation of quivalent
sumer In the Diet essential consume goods with-
goods markets showed covered inertares in income tax resources much ountries. inaufletent
smaller than York, each millions is expected for the cur-text
brackets, in they been presented books published 11/ alfoente: are being
the
that shows increased expenditure of out impairing the requirements considerable improvement. The in the higher income
motor your" which gives tome idea of
revenue on what he West. These are all signs that around Yen rent year as
100 billions.
balance of trade, however, was new taxation arceting To In of high priority projects." the magnitude of the task. These re- agricultuint seeler,
This
describes as "luxury taxation" has some of their original plans 're-
view of the favourable condi- achieve this balance will slightly adverse during most of cars, the raising of certain im- marks of mine will, I hope, not problem was dealt with at con- been particularly buoyant while quire modifiention but it would,
tions enjoyed by Industry it is not
the year as imports continued port duties and an excise duty on and- the**** The need for såderable length by the Gover-expenditure is again below
Masy I think, the he misunderstood.
a great mistake to be a
proposed to reduce personal in- Pres
ions at a high level, which had a locally grower tobacco. This in- President dismissed suggestions raped rustrialisation by this nor in his recent speech in the estimate. For the fanciul year assume that any real change has come tax but it is anticipated that the time was ripe for the beneficial effect on the revenue. creased revenue was expected
Council Legislative
to day and aga
cannot be
higher to reduce the deficit M.$110 the 1057/8 a deficit of H.K.$54 mil-occurred in the basic polley
This was considerably than be more
economic controls than expected removal of increase that this will to
and resulted in millions. m en so far made in resettle-icon The next
enlighten and
set-
The estimates Progren so
is estimated but share the regime, which
a) covered by higher revenue from
he recom- On Industrialisation
the
the contrary VIL of Pt and in the construction of holders, who have followed the the
recom income exceeding ordinary x capital interes alone would lead us to
other taxes,
projects already housing generally in trend of the Cony's finances and country as will bear. It seems
mended that Congress reconsider rapid a pace as give this auovement every en-
the "No Dollar Import Law" penditure in the revised esti- males for 1956, while a small
proved show that a little over Political Picture ecuragement; but this does no
Think, remarkable. It is never- observed how courservative there the economy
which permitted a considerable
Is estimated
M.$200 millions will be required thetess not enough,
In 1957 with not far short of Hongkong estimates seem to be, will per-likely, however, that the trend
Capital amount of barier trade, as this surplus
expenditure this in eastern Europe of diverting war 31758 has prided herself since the in
M$400 millions thereafter. This ps feel, as I do,
foward consumer When we turn from a survey
measure was being abused, The 1957.
will remain at about the same
finance by gives no cause for alarm. It is production in what han been achieved
of economic conditions, and look suggestion that the peso should level and the overall shortfall resent
is being provided at the 134-3 In-
efforts und I
by advances from Industrial
be divalued has been heard will as at the politicat plcture the out-
present by of heavy we shall be able to continue to is considering dealing with
usual by Suanced by
but a funding · treasury be self-retinuit
loans and American aid. This look is not so promising. The again from many quarters but for our nonnal development but the task of get as an amount
not caplia! Hems in a separate bud equipment to Chlaw, and this
of HK$150 may urresitate some adjust emergênce oľ the two-party
this propositor of the Central economy
Is strongly opposed ald Is most beneficial to the will require to be undertaken recillemerst is something quite intillons in next
year's estment. No doubt Mr Chou En-system, which I mentioned fast by the
of the country sooner or later, lal's Interruption of his Aston year, has not brought with it Bank who does not feel that it enabling deficit financing to be schemes for frrent. The time is rapidly matos represents this type approaching--if is not already expenditure. The altport and not only concerned with political here when Assistance
from
Tai Lam Chung reservoir com- came outside agency will
prise
40% of this amount. There! matters. sential and the riots is also an allocation for the pre- ་བ་འམ་ The Columbo Plan continued emphasized
urgent this Umbrary work on a new reser- 16 play a large part in it: the problem is. It is, therefore, all voir which is to be built me development in South-East, the more encouraging that the Lanka Island and this will take Ade and it is encouraging lof executive committee of the about six years to complete. sec box mutual aid has freisan. | United Nations Refugee Fund For the first time since the was ad particularly in the provision recently
agreed
The details are given of the assets ་་་་
to
* away from the fact Hist
under conditions which exist most of Asia, with
growing populations, the increase dustajal development should not
neve of such a high speed the provisetlon of buste food stuffs and other negt süljes of Be at table lu keep pace.
Economic Aid
B**V
זי
www
of the
How
and
I
that
I hope that | interesting that the goverith delivery slow up, or even half,
10
be-1
of
On
of halting facilities. The Con- Geerral Arrembly to conelder held by the government against sultative Connilter in report, the problem,
their ability for the Certif- published ofter its annual nivel.
When
we look at the year uscates of Indebtedness held by
pro-
gramme, the importance improvement
Thi
and
sent justified.
Textile Industry
I
respective note Issues.
us in
China
up
д
be
10
tour to visit these countries was any feeling of party cohesion would be in the best interests avoided, and has kept the cost course of propo
are HOL 63/1
50
Japan
The
of
rubsluto cash basis.
the
aren
ha
adelegation from the statistical information has been 25% compared with the gure settlement of this problem fa dividual.
rose
Vietnam
Malaya
operation
ato In
It was
scale
than
should
was hoped - assist
of foreign country's
help
This is statement os
the economic development." a very welcome foreign capital investment and, what 15 perhaps more im- portant, the technical assistance which is likely to come with it, will be essential to the Federa
Tin Agreement
and in the movement towards full independence, while many of the changes agreed upon at
In the first six months of the the Constitutional Conference In
these The commodities moved gradually London last year have already year the price of both been brought into force.
Tengku Abdul downwards but this trend was Chief Minister,
holds the halted in July due to develop Rahman, who also portfollo of Internal Defensements in the Middle East. For there were
considerable fuels with a
The
and polities are bedevilled of the country.
of living and money supply in the light of this heavy ex- covering re- comparatively stable, while a perditure that the financial dis by the rivalry of numerous foc-
The The agreement
Is uppropriation being cussions were held in London tions. This party sirile did parallons was made with Japan large
construction of concurrently with those on de- Restricted Trade
nothing to improve the Japanese during the year which provides used in the
for the supply of capital goods strategie ronds which will be of fence which I mentioned above. prospects in their negotiations
to a total of U.S.$500 millions great commercint value, Ship It was agreed that the United Thade with China continues to with Russia where the dissez-
rice, which earlier Kingdom Goverment would over a period of twenty years. ments of be restricted by the embargo but slons and rivalry of the various
the level provide some financini assistance it was announced in the House political
at
Detailed implementation of this were lagging behind groups
home
1955, increased during the towards the continued cost, of weakened of Cominous in May that more
hand which wag agreement seems to be making use would
made of the never particularly strong. be
the Emergency and would help little headway and the Phillp- lust two months, due to reduc- t
in export premiums, in the
expansion of the armed exerpliers procedure to permit
Japanese also found, as others plrict are anxious to terminate tiens
the trade agreement with Japan which enabled the total for the in
These forces.
arrangements, 13,000 tons although perhaps on a smal wapan year to be some fur in Wellington in Dreember, a white, however, we find that us and the two other note is reasonable exports In appropriate | have found before them, Úst
eases to China of goods which
were hard bar- the Russians
and
payment on
than for the previous Jer stresses the desirability of flexi- once again there has
Although relations more ing banks as security for our while this move is welcome as the summer bern an
the Soviet lists".
gainers and the talks, which in
Rubber exports were a developarat billty
with the United "States contule in practically
These
higher and estimated for, were resumed in every held of eronomie enden assets on 31st December, 1955 far as it govs it has not proved Moscow, seemed for a long time tinued to be friendly, little pro figures for both production and Federation in their develop providing sufficient opportuni.
were 108% of the liability with
so helpful is it was hoped due to be making little progress. gre seems to be being made exports of tin indicate an in- ment plans and, before lewing shall give
over the revision of the military crease of some 15%. As can Hea for productively employing as some of the figures
London, Tengku Abdul Rahman will show, The Tai 37% in the form of cash, money to the absence of precise lists Finally in October an agreement the ever-increasing human re-
at call or short notice.
and the Lam Chung reservoir project was
delay in dealing with
basës agreement. al
be seen, Thailand seems to be stated that "overy encourage- was signed and in December, sources of the area" and the inaugurated this month by Lady
applications.
would be given The In Tokyo,
in a very happy position which ment
for the need 10
ceremony maintain a proper Patricia Lennox-Boyd: progress
An exhibition of China pro ratification Instruments were ex-
should continue during the cur-flow balager
between consumption or the airport is reported to be
duce and manufactures was held changed and the restoration
Although many of the dim-rent year provided there is no Malaya. to aud Investment, The Committer
up to schedule; a development Conditions in China are
in Canton from November to
cullics facing the Republie of further internal disturbance, alte exprised
diplomatic relations became an the hope tha!
plan has been untiouneed for the matter of considerable interest January and was visited by matry
mentioned "Increased Opportunities
Huy Tum Hom district of Kowloon;
accomplished fack. A few days Vietnam, which i Hongkong merchants, The layuter Japan 10 all the countries in South-
the develop for drawing on foreign and building activity
elected last year, sill remain, consider- was Qut was excellem and not only tightieth member of the Uniled abic progress has in fact been continues East Aala and nowhere is this Investment." This IS to he sees in every part of the more so than here in store unul ducts, which we all here know showed the wide range of pro-
This
The wor Nations,
into made. ly true and I trust that
The Alliance Government has entry
against the Colony, The proposal to con- | Unfortunately, Information until suitable climate. will be created Col
to now been in office for over a the
been brought sects has the International organisation a tunnel
but well, has been scanty and
also included a bridge recently ur
conclusion, a
large year and steady progress has successful to enevoroge
Investment struct
has given great satisfaction to United Nations
has been reliance has had to be placed ic examples of what their new In- Agencies
across the harbour CO-
the Japanese and has, to a large number of the refugees have been made, both in the conduct flon for many years to come, tinued to play their part while the subject of a considerable a large extent on official pub-dustries are turning out. Many
of the day to day administration been effectively rescilled and tempered their disap- extent, amount of discussion during the lications and an impressions of of these items were for export nit has been provided by the
under law and order is pointment over the failure to and there is plenty of evidence, year but the government has returning visitors whose move- United States of America on devided that the cost of either ments have in some cases been here in Hongkong, of the Increase obtain satisfaction over
their being rapidly enlarged.
The new constitution has been generous scule through various
territorial claims. In this con- there has in the rarge of goods available action it seems unlikely that drawa up
and although but lately
this channels,
International of these projects is not at pre-limited: T་
been a welcome
from China. Increase both Bank
for Reconstruction
In the number of visitors per-
any progress will be made over gives the President of the Re Development also made sub-
the mitted to enter the country and
return of the Southern pubile very strong veto powers, tandat lowna including one of
Kurlles
În a country in the
while the Islands of) for a time at least, and extent of their travel 115$75 millions to the Tato fron
which
suffered from so much the Hobomai group and Shiko- when there which is enabling
the In Japan and Steel Company Lunited of
усаг was The competition which the
Hongkong to
tons are to be returned on the dissension, such powers are prob- and Security, became chairman the rest of the hear eye marked by steadily India which is the largest loan Geited Kingdom cotton ndustry
increasing witness acedunts of what is economic
Operations signing of the Peace Treaty ably necessary. Steps are being of the Emergency is facing from imports of piece happening. for an industrial project so far
expansion with made by that batik; and its off goods from India and Hongkong been a certain amount of criti- polical scene. The index
There has
there is no indication as to when taken, although possibly not fast Council and in July the Federa-sharp increase in both prices also
continuing instability on the
this will be.
In the minds of enough, to introduce land re- tion Armed Forces Council was
during November and. Décem- spring, the International Finance has been the subject of numer cism from China's own leaders, industrial
of
many Japanese a reappraisal of form. This will restrict the area Inaugurated and has already ber. The rise hns, however, not Corporation, came into being in ous statements in the press and
production in has shown
where
future relations with China
land suitable for growing rice set about the establishment of a been at Tin Agre. of July
and announced is inten- questions in the House of Com which
was higher by over November
A some of the weaknesses lie, and
seems to be the next slep but which may be held by one in self-contained local force. tion of concentrating upon in- ncs. Led by Sir Cuthbert
Constitutional Commission was ment come
come into force on 1st These are all con- vestment
developed
the considerably improved. In fuct for previous year but likely to require a high degree siderable achievements but the under the chairmanship of Lord have already been made by
in the appointed early
your July, 1958 and contributions countrie in association with visited both India and Hongkong a great deal of literature is internally this does not seem of diplomatic skill. private investors. The interna at the beginning of this year to available; but the achievements yet to
economic situation still gives Reid and have caused serious
toured the country members,
all of them so far in fional Bank has proved Itself discuss this
problem. It was
Cause for concern. of the present
ion overstrain.
Production receiving recommendations from cash. At the meeting in Decem- administration
Personal Rivalry While the cost of the of the most successful in- proposed that the local industry are still so much a subject of metals and machinery
se and
of rice is still very low, in spite various interested bodies. The ber of the International Tin of efforts to develop hitherto report has recently been pub Council it was agreed to review rnational organisations set up should voluntarily agree 10
controversy that much of this there
there were bottlenecks In both
While these since the war and i hope that, limitation of experts of cotton takes
giving
events a partisan view,
were unproductive areas and to re-shed but it is not possible to transportation and electric taking place the Liberal-Demo- plu
the present floor with the experience of its parent cloth to the United Kingdom at credit or awarding
and ceiling blame ac
rice fields plant
abandoned power the prices of basic cloth at its disposal, the International an agreed figure and this sug- cording to the ideology of the and foodstuffs remained steady
cratic Party was endeavouring during the hostilitles, and exo more than touch on crnment prices and a report is expected
strong central government And a
submitted to the next Finance
be Corporation will be gestion is being examined. Even writer. In spite of these quart- but in Jarmary the
new leader as Mr ports of rico were not found with ឆ. common nationality meeting which will be held this able to make a useful and in- it certain sections of the ic-
The Hatoyama fications on any opinion which goods index moved up sharply.
had announced his
These bave for possible in 1958,
whole retiring.
the introduction While The creasing contribution
intention of towards dustry are willing to co-operate, is formed there seems no doubt Unless this is temporary it
measure month. The since been resumed on a small Federation the cconcmle development of however, there seema little whatever that the progress in be a
personal rivalry between the saf
the scale but the price may make of autonomy for the States of this scheme should, on foo In- It members in the private sce- chance of bringing the garment-
sign that demand is be-
the whole, have various leaders made
dimcult. and Settlements are among the Buence, to
the lor in which it will specialise. In making industry
operate ment the been made in the last few years ginning to press where it can
difficult and it was not any large increase cur cwn small way we are do- scheme. This is very much
until a second ballot that Mr Little progress has been made Tocommendations. Provision is is substantial and that the first do most harm. Interest
and made for a constitutional
buffer stock should hold both Head ink
part and
continued of industry stages of the welding of farms con
high but we have the cottage type
bank Tanzan Ishibashi was elected in industrial development and
in Ballon has become a serious of State for the Federation and cash and tin but, as the managers
ation of t interests
the buffer stock is not per- in two development with no organised form of
have as-into collective units have been, advances
steadily in- and later formed government.
the Settlements becoming Ja threat in spite of the large
for corporations. one in India and sociation and this makes any to a large extent, completed. To creased, resulting in a rise
This Kovernement
short Ishibashi was amount of American ald, The States in the new Federation.mited to buy until the price is the other in Ceylon, white con- Imitation unworkable.
In view
what degree this has reflected the level of borrowing from the lived
the The reed for safeguarding zideration is being given to the of the publicity that has
little prospect of acquiring any to resign due to il recent reorganisation of the im- special position of the Molays in at the present Umo. From been
obliged the wishes of the people, or how Bank of Japon, setting up of a similar organisa-given to the competition
the health. Mr Kishi became
the by reducing from lasting the collective pattern
porner of those engaged in it)
has been recognised and The 1 tion in the Fedemtion of Malaya, lengkong it is, I think, worthy will be, is diflcult to estimate
Shipbuilding in particular has now Prime Minister but con-
.
qualifications for citizenship fol- 31st January 1957 the buying of 'tin by the United States These corporations are intended of mention that the spinning in-
but the speed with which this been extremely prosperous and, tinued to retain the portfelle of and the fixing of profit margins, low the proposals of the main Government for stockpile pur- grant finance on a rather dustry here comprises just over has been brought about must alded by their early
delivery Foreign Affairs while the at both wholesale and retail parties, longer term basis than banks three hundred thousand spindles have exceeded Expectations.
dates the industry has taken Cabinet Was practically. un level, is aimed at lowering prices
At a further meating between poses ceased and the smelter in Texas was sold to a private normally provide.
while in the United Kingdom
advantage of the world demand changed.
Recent developments but this can only have a limited the Governments of the United concern. for shipping last
particularly tank- unfortunately have not
effect, Morcover, the decision provided
Kingdom and the Federation of ers, and Japan
Tin production in Malaya in
by a Uttle over one The construction of new rall-out 1,740,000 a year turned any evidence that the men that Ali Chinese bom in Viet- Molayı, held in London 'over the
of shipping, of the party have butica nam would henceforth be Viet- and of the year, Hongkong has been fortunate
double the
previous year's total. quarrels and the factional namese nationals and that non- WOOD. ways has also been particularly Output of textiles also increased aufiliations sull scem es, strong Vietnamese nationals would be the teams of the defence agres- 1955, while exports were the atisfactorily concluded on thousand tons compared with in recent years in avoiding any serious internal disurbancts
impressive arti it is claimed that over 2.500 mild have already and exports have been rising ús ever. Although so for the prohibited from participation in menu "under which Her highest since 1950. and for this a great deal of tho
which has not been
Majesty's Government
The rubber replanting scheme, welcomed c heen completed. credit is due to our efficient
damaging effect on the
on the the damaging effect increased by 24% in value will most ambitious of these projects the industries to political instability` bay not had no retail trade has had undertake to assist the Federa- which is so vital for the future police force. Unfortunately
countries, part- country's economy there are de
tion Broлdence of the Chinese who are
Government is the line linking Lanchow with
in the extermal of the industry, is making pro- October
incident,
which started as a comparatively minor showed a greater improvemente Soviet network some 1,700 sularly in the United States of many problems both in the articularly interested In this | delenco of its tervitowy: and in gress although the smallholders
and pro- domestic
international trade. For a long term salution the training and development of are moving slower than the This is understandable than Imports with Indonesia miles away. dispute in one of the rescitic-
estates. the Acids requiring attention which emoving Into Arst place while passed the oil folds of Yumon. Japanera have agreed to a volun- is unlikely to be given as long would seem to be necessary to oder biter fety Govern of Malaya, Annual Report for
to their economic difficulties it its own armed forces areas,
Was
Government will es to quote from the Fedciation exploited by
vo more difficult to get tary limitation er exports to Japan and Thailand may Bangster members
textile ex- of were substantially higher. The there new lines into full opera ports to 235 million square yards
dissensiona press ahead with increasing the
1988 to the smallholder, acic of the Triad Societies to
ment the
the right to maintain aren under rice cultivation and
14 increase in Imports was fairly lion, as there develop into the most serious well spread with
are reports of per annum. An Interesting in-
the Federation, the forces, in- mg mechanical aids, the task of Flots
Japan and breakdowns and a lack of main- | novallon to encourage exports. the Colony has
The Philippines the setting up of secondary including a Commonwealth strate replanting calls for hard and China making the most progress. tenance on existing xullways, has been the floating foir of
dustries; but the most immediate perienced since the worl
necessary for the sustained physical labour and The
gle reserve
Si Covernor in a memorandum to Imports from China at just over but this does not in any way Japanese machinery which te The
problem is to bring down the fulfilment of Commonwealth and considerable publicity year 1950 was, on the
ficient inducements is necessary the Secretary of State for the $1,000 millions were the highest diminish the credli duo for what moving round various ports in whole, a good one for the Philip-
cost of living.
International obligations". the since the war and although the has already been achieved. Colonies, atated that
South-East Asia: This fair is plies. The political altuation "there trend continued for exports to
As a result of this prepara-to encourage the smallholder to evidence
on board The first National Congress of housed
a freighter remained unchanged and Pre- to that country to be lower, the
for the transference of power was slightly below: the high the Chinese Communist Party which will spend a few days in aident Magsaysay personally suggest that, the riots in Kowdrop was not so severe as in since the Yenan Congress in 1945 each city, loon were planned beforehand. 1955.
continued to enjoy the support retain the
Priaco Sihanouk continues to on aist August and the Federt level of 1055 and exporte at was held in Peking in Septem-
of the nation,
confidence of the ton of Malaya will then take its 083,000 tons showed a drop of the contrary, all the 'in-
of the majority Exporta
At this meeting
industry
able influence whether he has be at the Commonwealth. On all members of the adminjatia- spontaneously and he went on prices by 7% and come in the first five-year plan was caused a higher level of im- although this does not extend to people and to wield consider place, as a self-governing mom about 1% f
Singapore wond The pilot i Prisad about a quarter of the discussed and many errors were parts, mainly of row materials, | tion. There was generalStrict neutrality is the der vects look The
crowded Colony's a total - exports. The admitted by the ometal spokes- sice krup 4nd a world demand sumber of the Security Chun-clared policy of the country Allance Governmejority of the futuro constitution for Singa- resettlement blocles, which It United Kingdom continued to be
The conference, to decide the was necessary to build in urban our best customer for local pro- of lighthe severe one suit for her exports, it was ill ch
a and that Governor Miguel and the two-year arces in order to enable the ducts but tolol exports to that
found possible to maintain a Caderno of the Central Bank Invasiment pin is being Igégely population and the economic pore was, held in London In Inhabitants to be housed near country are still only 60% of procis han the production of favourable balance of payments was, electal Chaltman of the nanged by ald from abroad, outlook seems bright, with April but in splice of the wories their work exploits the dry-quy imports from there, a point building materials warranted. As suit this was mainly due to Board of Governors of boil the Rice Caporis, which were ban- cornulag world themand for of negotiation it was found in- ness of the timber witch was which some people in the United the neglect of focusity along the invisible items as payments for International Monetary Fund and anty in the roar are to be the primary products. The possible to reach bigreement
to be Jailed
any Kingdom svom to overlook. The coatt
(it was pointed out exports and imparts were) al- and the International Bank, resumed as this year's harvest, Emergency, continue, sa "a" dark The main laud on which. Arte Agüréd Ulustrate the importance that this pred su produced over frost in balanco at U.S.19,400 Economically there was gone reported to be excellent, por coud of the horizon de The continuing rise in the tom Hongkong of her local ki00% of China consujoer millons, but the foreign ex-eraxosperity and from Buress is being made in the con- though much success has been extent of the power $10 population due
the finge : dururien which continue to play | gooda), and too jasi p wage change surplus was just unter statistics as are valiente at the strucuku në het road, to stood lastloved, the terrorista #remain
to
our
Hongkong Survey
an
ments and
whatsoever
xx-
into
of
industrial development that has
there aro reported to be some- More Railways
thing in the region of twenty- five million spindles in active operation.
Hong Kong Trade
Hongkong's frado in 1056
volume rose by 12%. Exports 18
The
of Hongkong prober.
One of
the
by the
consumer
This has already
America. As a result of
from that
counter
On
dications are tunt they started
to show
that
These covered the
progress
The demands of
crop
may
rates
in
to
no
жа AB tho present
remain,
trade,
Cambodia
cat
and
malia
been in office or out of it, the whole their
Became
"
of
of the
will
while
the
pros
a
stantly
(Continued on rare 9. Cal.