Some interest has been roused in the suggestion by Mr. Hawker that Australia should encourage the devel-lopment of a woollen industry China, where it is realized the potential market is enormous, Mr. Pang, a well-known Chinese businessman, has disclosed that he visited China in 1930 to promote such an enterprise, but, owing to the depression, the necessary capital was not available. He now suggests that the time Is ripe for resumption of negotiations, and expresses the opinion that Aus tralian capital should be made avail. able for the purpose.
Tu view of the profit Japan has derived from the manufacture Australian wool, the scheme certainly does appear to offer China scope for new industrial development and increasing trode with this country, but the investment of Australian capital would be contrary to the whole trend of national economic policy at the present time, Every effort is being devoted to expanding our own manu factores to provide an assured home market for primary products and Australia is likely to remain an im= porter, ao! an exporter, of capital for many years to come. If, however, 2 woollen industry were developed in China it would certainly be welcomed by Australia, not merely as fan additional market for our Wool, but as another link with a nation with whom our trade relations are especially harmonious, Curxa is gradually becoming a coffee-drinking nation, according to reports issued by the Bureau of Foreign Trade of the Ministry of Industry, Foreign coffee imported into Shanghat from January 1 to August 31, 1938, according to the Bureau, was valued at $222,811. This figure shows an increase of over {$11,000 over a corresponding period of last year.
Text read from the printed page and cleaned; old type leaves the occasional error.