1953-06-17 — Page 9

THE CHINA MAIL, WEDNESDAY, JUNE 17, 1953.

1

UK Exchange Control Japan's

Policy Reviewed:

Better Credit Terms

(By J. A. NASMYTH)

Generally speaking, a British exporter requires to be paid within six months of the shipment of goods. Until quite recently the British Government insisted on payment within this period."

But the President of the Board of Trade has now announced a "re- view of exchange control policy," and that "exporters can now be assured of greater freedom in granting credit terms to overseas buyers."

He added that he expected exporters to have regard not only "to the needs of the situation, but to the financial facilities open to them."

World Food

Output

Rome, June 10. Agricultural production through the world-ex- cluding Russia and China- has risen by 20 per cent over pre-war figures, the 18-nation Council of the Food and Agricultural (FAO) was Organisation

pro-

Faced with growing financial, banks on demand, and in proc stringency in overseas markels lice are often left with the and with Getnan rivals prepared banks for long periods,

portion of them could safely be to offer long credit, the British exponier has been taking another carmarked for at least medium-

the financial facilities Innk at

term purposen, open to him.

dimcult.

such

Trade

Deficit

Free-spending Japan is moving blithely down the path to a $1,200,000,000 foreign trade deficit for the calendar year 1953.

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And for the first time since the three-year-old Korean war

began, the dollars which came ted Nations Forces in Korca and

from procurement for the Uni-

from the United States security forces in Japan will not be enough to bridge the gap.

But the man in the street does noi seem

to know about it; the Japanese press is not alarmed about it, and the new, unstable government of Prime Minister doing Shigeru Yoshida is not anything about it."

During

1952, Japan exported $1,271,000,000 worth of goods and Imported $2,027,000,000 worth for a trade deficit of $756,000,000.

IN THE COLONIES They are found to be seriously dofoctive in one reapest.. It is It is not true, or fålr, to say

to arrange for

the One that

dermand for trade bill to be discounted for facilities comes only from firms more than six months for more which have been over-trading than eighteen months it is im-jor which want to over-trade | dividually in Japan totalled possible.

purposes,

in

of

the

|

covered the deficit.

Good Outlook On Stock Exchange

By NORMAN CRUMP, Sunday Times City Editor

During the past fortnight several people have called my attention to the recent market weakness, and have asked whether or not they should sell all or part of their holdings. ·

.

MESSAGERIES

P.O. Box 53. Queen's Bldg.

Outwarde

M