Far Eastern War Affects
p. 41 · Read in the full issue
Philippines
from Our Own Correspondent.
Honolulu, Dec. 2.
TROUBLES never come singly, even for countries. Scared out of their wits are Filipinos about the forecast ex pansion southward of Imperial Japan.
Last week more bad news was officially announced.
For the first nine months of 1938, exports from the Philippines have slumped owing to low world prices for the major exports, sugar, hemp, lumber and coconut oil.
Since the war began in China, Japan, usually the best customer for hemp and lumber, has slashed purchases in the Philippines.
This year will see the first Philippines unfavourable trade balance in 17 years.
That is, with foreign countries. Trade with the U.S.A. remains slightly in the favour of the Islands.