THE HONGKONG= TELEGRAPH, MONDAY, NOVEMBER 20, 1950.
Nothing Like A Rain Of Dollars Expected For South East Asia
London, Nov. 19.
a
Experts in London hope that the publication shortly of the British Commonwealth report on aid to South and South-East Asia will crystallise ideas for great dollar development programme in Asia› to start during the coming year.
Spearheads of such developments would be India, Japan, Pakistan and later, .perhaps, Indo- nesia-countries where conditions exist for useful instead of wasteful development.
Reynolds
To some extent the programme might be Backs Up
automatic, but to the extent that it requires ac- tions and policy decisions they would be actions and policies in Asiatic countries, in Britain as well as United States policies and actions.
There would be nothing 50 simple as a "rain of dollars".
do it, Washington would not and no responsible Americans believe that a mere outpouring be of- dollars in Asia would effective, even if it were feas- ible.
These London experts direct tre attention
to passages in the Gray Report--which represents the most farsighted American view that "the process of stimulating development in un- developed countries is more complicated and slow than that of assisting recovery in deve- that "a loped countries", and needed, feasible and effective programme would require
years."
of
There have been indications for some time, repeated today; that after achieving the defeat aggression in Korea, the United States might turn to- wards a great constructive pro- gramme, for Asia to wrest the initiative from 'Rusila.
in
THE OFFENSIVE The Gray Report put it that military programmes are entirely defensive and that
and social field the economic the free nations must go over to the offensive, to demonstrate that the effective use of resources can be achieved with- out the loss of freedom.
In two automatic ways the programme may already be at work,
more
In the past fortnight, the rate of loss has accelerated again.
Without weakening the United States, which still has a huge gold stock, this redistribu- tion greatly strengthens the re- serves of other countries.
Much of the gold and dollars have been coming to Britain.
Britain's position was streng- thened considerably during October, but the improvement was too good to last. During November there seems to have been slackening.
Mikardos
London, Nov. 19. The Co-operative news- paper, "Reynolds News," in its
editorial today called upon Labour Britain to take the initiative in bringing about a settlement between the Powers.
It said. "Korea has shown that the Soviets are not prepared to risk a war. There is no reason to assume that the Soviet Union is insincere in putting out feelers for a settlement.
1
A general view as the new Lord Mayor of London passed the Mansion House during the recent colourful Lord Mayor's Show in London. (Central Press).
BRITISH JEWRY'S PROTEST
London, Nov. 19.
in But if the improvement Britain's. dollar position con-
"Therefore, it is not enough to tinues at anything resembling
for four-power talks are un- the recent pace, Britain will be say that the Russitin proposals able to pass on money to Asia. satisfactory
In a sense, the flow of Ame-
Urging that the rican capital to Britain might
the agent for Government should
The Board of Deputies of British Jews today make London
least in counter-proposals for the sub-protested against the rearmament in Eastern and American policies, at the Commonwealth countries of jects to be discussed, the pound Western Germany" which, it said, was a betrayal
recognise the reality of the of the millions of Jews and non-Jews destroyed by `
Asia,
OUTLOOK OBSCURE
✡
will
British submit
said: "These proposals should
modern world-the existence of
Indo-
may
The
Board also decided draw the British Government's attention to "evidence of the resurgence of Nazism in Ger- many" which, it said, was grave menace to Jews and to Democracy.
to Germany "human rights and freedoms and fundamental equality before the law should be internationally guaranteed that provision should be made for the effective imple- mentation of those guarantees.".. -Reuter.
a
On German rearmament the Board passed a resolution say- Ing it "views with grave con-
and
cerr, the rearmament of Eastern Pressure
and Western Germany.'
Of
The Iron Heel
Belgrade, Nov. 19.
Beyond these two automatic Communist and non-Communist the Nazis.
which must And points, the outlook is obscure, systems,
together in of living It is not necessarily worsened means
or both systems will go by the Republican gains in peace the recent American election. up in atomic smoke. Senator Robert Taft (Repub-
"Where the two systems lican) has said that he does clash, in Malaya,
as not think there is any great China, Burma and Korea, the
between the difference
Govern- two Russian and Chinese American parties on foreign ments should be called on to Republican use their influence to damp policy. It was Congress which voted Marshall down the friction which Aida programme which has spark into war.
"In return, British influence One is that some countries of succeeded beyond all expecta-
"The Board records its con- be used to should Asia are already receiving large tions.
secure the viction that the existence or re- amounts of dollars for the
Most important of all
the admission of Communist creation of a German army or strategic materials they sell to be the attitude of the Asiatic China to the United Nations. armies is a betrayal of those millions of Jews and non-Jews the United States, and can get countries. At the recent Luck-
dollars
all for
were destroyed by the the
"Most important of all, Bri- who now Conference on Aslan de-
A member of the Yugoslav that they strategic materials
velopment, a high American tain should declare to the world Nazis" it added.
Communist Politburo, M. Mil- In that
another resolution, the can produce in future.
when that she is prepared to devote expert claimed
van Djilas, declared today that The other is that a great
are a fixed proportion of Americans offer aid they
her Board listed as evidence of a
the the Soviet leaders were redistribution of the United
of interference and national income to raising the resurgence of Nazism in Ger- "masters of six civilised
do not come for- standard States gold stock is already in accused
of living
"continuance in colonial į many
European countries which they the devalua- when they
Germany of progress because
anti- offer aid they ward to
exploit economically, preparing -are and undeveloped territories." Western tion of sterling made sterling
Semitic manifestations, the ap- Reuter.
an aggressive war.' goods cheap and dollar goods accused of indifference.
pointment of former prominent
writing in M. Djilas was Nazis to leading positions ..dear,
public life and administration, Borba, the Yugoslav Commun- admitted of light taxation on capital. the ineffectiveness of de- ist Party organ. that its effectiveness would be The new nations of Asia are nazification tnd the releane of. Their "disguised occupation." uncertain in the present condi- reluctant to concede such as- war criminals convicted of war he said, was preparing war, tions. So far in the postwar surances for any money.
purportedly against capitalism, crimes against humanity."
The resolution said that these but actually "to gain booty and period. American private
has been Recognising this, the Gray constituted 1 grave menace new territories." The people in vestment in Asia
reliance not Report recommended
to the Soviet-dominated countries. rnicroscopic.
only to Jews but also Essentially, American private on the International Bank and Democracy. It urged the British were living "under the pressure of the United States Export-Im- Government to ensure that in of an iron heel, unprecedented or at the rate of $2,800,000,000 a investors want assurances
non-nationalistic policies and port Bank.-Reuter. year.
Since the devaluation of sterling in September, 1949, the United States has lost $1,543,- 000,000 of gold.
RATE OF LOSS Most of this loss has occurred since the Korea outbreak, dur- United ing which period the States has lost $1,083,000,000-
NANCY
Dark Daze
SURE, PEEWEE--
THE EARTH
TURNS AROUND
ON ITS
AXIS
The Gray Report recom- mended private investment as
but the best way,
in-
SO, WHEN IT'S NOON HERE, THE CHINESE ARE HAVING MIDNIGHT
THE
the
any new agreement on Western
By Ernie Bushmiller
CHINESE
LAUNDRY
WHY AREN'T
You
in
in
anywhere."-Reuter.
When there's bif· I needn't use my fist!
1097331:
0 ite B
Fradw for th
botcutis ap
16 bod bitiw
ni
2013000
[(102697)
REALLY?
-SEPT-7
| Copr, 1994 |
IN
BED?
bif
WITH 5% DO?
JSEM SURE MI
souansh: NAN KANG CO.......
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