Some large spinning firms are considering the diversion of a part of their capital to industries more favoured by the authorities, fields closely allied with heavy industry or munitions. Toyo Spinning. one of ibe largest spinning concerns in Japan, already is scheduled to invest fairly heavily in such concerns as the rubber, meta] and motor-car indus:- ries.
Taken in detail, the 1938 cotton export trade had many unbar spects.
Finding the grey textiles export limit of two months after easier to reach than the finished seeds three-months limit, spinners turned to cheap goods, which became glut on the market, While textile exports fell off but 18 per cent. in quantity to 2.180,809,700 square yards, their value dropped 30 per cent. to Y¥.404,239,700, a loss of some Y.168. 825,000, Despite the fact that Japan's cotton textile exports to British India increased by 42 per cent. in quantity to 469,880,300—square yards, that advance was accompanied by such low prices that this 42 per cent. increase in quantity brought only an per cent. increase in value.
Another factor in holding the Indian market is the pact whereby India buys Japanese textiles in return for Japan buying Indian raw cotton. But with Japan attempting to switch its short-staple cotton buying to North China (whether that move proves successful or not) India will probably not be inclined to look with favour on large amounts of Japanese textiles, especially when cheap textiles made in India (with machinery imported from Japan) become larger in amount,
Text read from the printed page and cleaned; old type leaves the occasional error.