1937-04-26 — Page 17

THE CHINA MAIL, APRIL 26, 1937.

CHINESE ECONOMIC CO- OPERATION WITH JAPAN

The question of economic co-oper

This argument holds good, he states, ation between China and Japan, often in so far, that since the mills failed, it alluded to by Chinese in North China is better to have someone to re-open with tongues in their cheeks as "ho- and employ the operators. On the other tao", is discussed to great length in a hand, "the commentator did not quite recent Information Bulletin written by see the real causes for which the thou- Mr. Tien-tsung Sih of the Council of sands of operators in Lancashire who International Affairs, Nanking. The have had a pretty rotten time of it for subject of his thesis is "Japan and Cot- years, are still having it come from the It would be even more ton Industry in North China," writes same source.

unfortunate if we overlook the serious Malcolm Rosholt.

consequences which are likely to oc-

13 cur.

Mr. Sih declares that it is the "earn- Government

as a

Why is it that "ho-tso" is given the meaning it has in North China to-day? Certainly there can be nothing more to be desired than economic co-oper-est wish of the Chinese ation between the two great nations that cotton growing should be promot- ed, particularly in North China which on this side of the "Peaceful Ocean."

suitable The question I have posed here is is generally regarded

If the acreage could be extend- what Mr. Sih sets out to answer and area. his one big conclusion is that economic ed and quality of cotton improved, the co-operation between China and Japan farmers there would reap more bene- a better living is not desirable at present because Ja-fit and consequently pan will insist on mixing politics with which would in turn, enhance the eco- nomic as well as the political stability economics.

of the country."

The machinations of the Kwan- tung Army and the activities of the smugglers are phases of this politico- militaristic interference.

Reasons Enumerated

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Co-operation Would Be Welcome Further: "Since Japan needs our cot-| ton, we shall be only too glad to sell it received for one year or charter periods at rates or even to encourage its growth in or- der to meet such a demand. If any assistance from the prospective con- Mr. Sih enumerates what he consi-sumer were necessary, there is no rea- ders the reasons for Japan's desire to son why it should be rejected. In fact, control cotton growth and industry in such assistance should be even sought, North China as 1) failure to encour provided it would mean economic co- age cotton growing in Manchuria, 2) operation, not economic control, which to be independent of America and In- would inevitably lead to political con- dian cotton, 3) to obtain the advan- trol.”

the tage of establishing mills near cotton producing area and market, and 4) political designs.

1?

It appears that despite their elabor- ate plans, Mr. Sih states, that the Ja- panese have had little success in cot- THE BANK OF EAST ASIA, LTD. ton growing,

Authorised. Capital Paid-up Capital Reserve and Undivided

...$10,000,000.00 .$ 5,598,600.00

$ 2,776,726.76

From a strictly economic point of

It is Mr. Sih's belief that despite view, no one would deny Japan the wish

It is in the very their elaborate plans, the to reasons 2 and 3.

Japanese nature of economic competition to de- have had little success in cotton grow- sire these two points. But what of ing. He then quotes the great suc- Profits point. 4, which is also linked with point cess which has attended co-operation between China and the League of Na- Mr. Sih discusses the reasons why tions. "The reason for this is not

HEAD OFFICE:-HONG KONG. a number of Chinese mill owners have hard to find. In the latter case, it is,

10, Des Voux Road. Central. essence, а co-operation between been forced to sell out to Japanese in-in

"Why",

the the National Economic he asks, "did

BOARD OF DIRECTORS:~~~ terests.

Council of Chinese have to sell out?"

Nanking and the technical organiza- Hon. Sir Shou-son Chow, Chairman; Li Koon Chun Esq. PK. Kwok Esq. WODE You "Firstly, the loss of the Manchur- tions of Geneva under the joint super-Tong, Esq. Chan Ching Bhek, Eng., Lá Lan ian market deal a heavy blow to these visions of the Chinese Government and Sang, Esq. Wong Chu Son, Eaq, and Kan Ying

Fo, Esq., Fung Ping: Wah, Esq. mills. Secondly, the smuggling ac- the League Council," tivity during last year made it. almost impossible to complete. Thirdly, the constant military pressure exerted by the Japanese and disturbances in Tien- tsin caused the administration of the mills to be too difficult to be logically and smoothly, performed. The mill own- ers naturally wished to sell at what- ever price they could get in order to avoid a total loss."

THE WING ON BANK, LTD..

Head Office: Hong Kong. 26, Des Voeux Road, Central. Authorised Capital $10,000,000 LONDON BANKERS:---- Westminster Bank, Ltd. Foreign Exchange and every des- Argument Fails To Hold Water In commenting on this phenomenal cription of banking business transact- expansion of Japanese cotton interests ed

Current Accounts and Savings Ac- in North China, the writer of the

Mixed Deposits re- thesis quotes a certain British journal counts opened. in Shanghai as having "thought" that ceived at rates which will be quoted "the thousands of operatives who have on_application. had a pretty rotten time of it for years under employment of their own people, may now look forward to security not only in work, but also in wages.'

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