1938-05-02 — Page 10

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Pointing to the immediate pos- sibilities of a British-American trade agreement the conference report says that a liberal agree- ment between these two govern- ments whose trade amounts to a would not only "profoundly affect quarter of the world's total,

of

The China Mail Ninety-Third Year of Publication 8A Wyndham Street, Hong Kong Telephone-20022. London Office: 7, Garrick Street, London, W.C.2 Notice To Contributors.

the world economic outlook" but All communications intended for "have a most helpful effect on publication

should be addressed to world's nerves." the Editor, and be accompanied by Knowing that ·· excesses the Writer's "Name and Address, nationalism have driven many not necessarily for insertion but countries to seek economic self- as a guarantee of good faith.

sufficiency, these peace groups re- Subscription Rates.

cognise that such countries would almost as soon give up new guns and planes as permit themselves to become dependent on imports. They understand, too, that in the United States producers who fear the competition of imports will fight the lowering of tariff

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PEACE

THE ECONOMICS OF walls. But they believe that in the democracies at least the economic advantages of increas- What is being done about ed trade for the nation as a whole peace? All the world believes can be proved. And if the de- that another world war would mocracies can prove the benefits of a free economic system they prove universally disastrous-to

may forestall internal regimenta- victor, to vanquished and to neu- tral. What is the world doing to tion and gradually win other na- stop another war? The most visible effort' is

a rearmament race which would, in proportion,

make another war four times as

destructive as the last.. And like matches thrown into that heap of explosives' are the bitter denun- ciations of peoples with differing race or political systems. Added source of sparks is the friction of continued economic strife.

..

tions to a freer international system.

?

programme of education to win The peace societies outline a labour, business, agriculture, con- sumers and geographic regions to appreciate the gains both economic and pacific-from in- creased trade. They not only point out the large groups which specifically benefit from the ex- ports which pay for increased These things seem all to make imports but urge transition as- for war. Against them the forces sistance to such producers as of peace appear weak and disor-may be temporarily injured by ganised. Yet positive efforts are imports. This last plan deserves under way which if adequately much study.

supported offer the world the Figures released last week hope of peace. Basic are active showing a remarkable increase in endeavours to put understanding China's trade with the outside and good will in place of preju-world in March as compared Feb- dice and hate. Likewise the lubri-ruary, is an indication of the cant of diplomacy, making ad-growing importance of the new justments sometimes by distaste- routes recently opened up. China's ful means, may yet enable a dy- trade with the outside world, namic world to carry on without while it has naturally diminish- war. And fundamentally. im- ed, has in fact still held up much proving the situation and remov- better than might have been an- ing causes of war are measures ticipated, in view of the passing for economie demobilization. of all its main ports, except Can- Peace groups, badly divided on ton, under Japanese control. The political procedures, it may be newly completed Canton-Hankow noted are able to unite on an Railway has been working at economic programme-indicating maximum capacity and has not that economic appeasement is been put out of action for any the most feasible place to begin long period of time, in spite of making peace. Here is what this repeated Japanese bombings. Conference on World Economic Co-operation said about the "key problem" of increasing trade be- tween 'nations:

A new highway between Hong Kong and Canton has just been completed at record speed and other highways up to the borders Trade can

be called the of French Indo-China and Burma world's most potent instrument and to Russia, across Sinkiang, or of peaceful change. Abundant Chinese Turkestan, are under con-- trade between nations lessens struction. It is still permature the economic importance of to predict how practicable these boundaries; removes most of new means of contact with the the causes of complaint about outside world will prove in the lack of access to raw materials event of a prolonged struggle, that can justly be made by any lasting over a number of years. state on grounds of peacetime But there can be little doubt needs; eases tensions over co- that, provided Chinese resistance lonies in so far as those ten- does not collapse altogether, sions are really rooted in eco-there will be an interesting shift nomic grievances and are not of Chinese political, economic and simply matters of pride and educational centers to the west prestige; lessens the likelihood and the south. If there is no of exploitation of consumers Japanese drive against Canton, by foreign or domestic mono- Hong Kong may take over much polies; makes debt payments of the now stagnant trade of“ easier for debtors and more Shanghai. The movement of probable for creditors; facili- large numbers of students into tates thousands of everyday the formerly backward and un- adjustments that in turn pre-developed western provinces of vent the development of social China, which seem to lie outside conflict within nations and be- the possible range of Japanese tween nations, ju

occupation, will certainly have a For specific means of increas-quickening and civilising effect.. ing trade the conference recom- This will not be the first time in mended first the Hull reciprocal China's long history that foreign treaties, the Van Zeeland pro-invasion has brought about im- gramme for economic and mone-portant political and economic tary demobilisation and a general shifts over the expanse of the pact for economic collaboration. country's vast territory..