BUSINESS ABROAD: Red Propaganda Fair

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U.S. Exports. Even if the embargoes were lifted, Western economists doubt that Japanese exports to China would ever be much more than $100 million a year (against $225 million before the war). Under a $90 million agreement for trade in nonstrategic goods this year, the Chinese have shipped $29.5 million worth of goods to Japan, bought only $9,500,000 worth in return. At the same time this year, Japanese exports to the U.S. have improved dramatically: $188.3 million for the first six months, against $131.1 million during the same period last year. Nevertheless, Japanese pressure for removal of the embargoes is still strong. In Peking last fortnight a group of Tokyo businessmen signed a $3.6 million barter deal with the Communists, committing themselves to ship a wide assortment of goods that are now banned. In Tokyo another group announced plans to hold a Japanese trade fair in Peking next spring.