Comprehensive "Yen Bloc" Economic Epansion Programme to Be Nucleus of East Asia System 'Tokyo, Feb. 15. LARGE-SCALE nationot plans for the economic' development of the "yen bloc" countries have been mapped out by the Japanese Chamber of Commerce and Industry here, with the Committee for Research in East Asia, Economic Affairs to serve a nucleus, it was announced today. Combining the natural resources and labour of China with the capital and technical skill of Japan, the plans call for the establishment of various new dustries in Japan, Manchoukuo and China as an economic entity, and the expansion of the productive capacity of those already established, under Japanese guidance.
The plans will be submitted for approval and enforcement to all government agencies concerned, including the Mi istness of Foreign Affairs, Commerce and Industry, Finance, Asia Develop~ ment Board, Cabinet Planning Board, and military authorities. Completion of the "yen bloc" system throughout the three countries will be attempted as a nucleus for an East Asia ce-operative system.
'During the transitional period, however, adequate measures will be en-foreed, compatible with special re+ ional' conditions.
Regulation of the movement. of materials throughout the three coun {Pies and overseas trade control, will attempted, based upon estimates of fulure foreign trade balances of the three countries.
Problems of economic self sumciency' and. tripartite economic dependence of foreign Powers will be surveyed by the new committee, (01d Currency to Stand Legal tender of the old regime in Central and South China will utilized as currency for the "time being, while attempts to evolve a new currency system will be made, Japanese trade with Manchoukuo, Mongolia, and north China will me troduce 'a "link" system, whereby wool and raw cotton of those countries will be exchanged for Japanese cotton and woollen, which cannot be system, because or production Will utilize a "verter" system based on monetary standards tobe adopted.
Japanese trade with third Powers will" be. taken Into consideration in planning "the control of Japanese trade with Manchoukuo, North China, and Mongolia.
Slatus of "Foreign" Goods Foreign goods being imported into China for purposes of economic reconstruction, refugee relief, and general dally needs will be given special consideration sind. research, so" that obstacles for Japanese exports to China wilt be removed, Aitempts fo increase exports to the Aslatle mainland of Japanese prod-nets such ax sult, dried fish, sweet oranges, and (ea, and those manufaciret goods made partly or entirely apanese-produced materials, will be made, in order to secure Imports wnfyraw materials from abroad.
Exports of miscellaneous goods and rayon fo China will be permitted to tmstintain the middle class and smaller idustriatists. in. Japan.
Accumulation of forelxh currencies andthe enlargement and reinforee= ment of "Federal Reserve Bank"
tos, together with trade control, Will form the major objectives of the North' China currency' policy.
Text read from the printed page and cleaned; old type leaves the occasional error.