What does matter is the swift advance of our trade rivals, principally Japan, in fields hitherto dominated by British goods and Bri. tish mills. "Machinery, metal, and textiles are the three principal imports.from Great; Britain" into China.' In all these lines mp are being' under sold, and impoverished China, which now looks carefully t the cost of an article, irrespective of sentimental considerations, succumbing to the lure of cheapness.
Take "piece goods. They -represent approximately 60 per cent. of li British imports. One leading authority here tells me that the China trade supports about 50,000 Lancashire mill operative. The whole of the "grey goods" trade is now practically in the hands Japanese and Chinese manufacturfers. Certain lines, such as print ced and fancy goods, of which we had the monopoly, are also passing to Japan at prices as much as 20 rer cent. lower.
'Japan has gained steadily during the past 15 years. In 1910 the value of British piece goods sold to China represented -56.02 per. cent. of the total imports, as against 15.41 per cent. from Japan. In 1921 the value represented only' 43.28 per cent., as against 43.64 per cent. from Japan. In 1923 Japan had risen to 58.04 per cent, and Great Britain had dropped to' 35.03 per cent.
The following table, shows the decline in total textile imports (in pieces) from Great Britain during the past three years, as compared the business done "in 1914:
Great Brorars.—Saray. you, 12126904" 7,626,680 yan Tx2a\7d 10.7an 528 1923 B.309.894 10,084,450 wet Gsesa77 nae Despite the slight increase during 1924, certain lines which Lancashire mills have hitherto regardcd_as essentially their trade fell forther into Japanese hands. In plain cotton prints, for example,
Text read from the printed page and cleaned; old type leaves the occasional error.