The economic recovery of many foreign countries will have favour~ able Tepercussions to Hongkong and South China, as it may be possible for the overseas Chinese to make living there and to. remit their savings to their native homes through Jocal banks. With the gradual lift ing of the depression in foreign countries, hongkong will be able to come out of the present business stump.
Chinese merchants here are still devising ways and means to bring back trade. Sharing the viewpoint of their foreign colleagues, the Chinese business men take the position that the present trade slump in Hongkong is due largely to a higher Chinese import tariff and the weal ened purchasing power of the people.
To assist in trade recovery, the merchants believe that it is necessary for the Chinese government authori ties to reduce administrative expenses and other governmental ex-Denditure. With such a. retrenchment, it will then be possible, in the opinion of the merchants, to scale down the high import tant. "The local traders" also" hold that the government should ce-operate with the people in devising ways and means for commercial recovery as the United States has done.
Text read from the printed page and cleaned; old type leaves the occasional error.