Recent Phases of Competition in International Trade

ALTERED competitive conditions in international trade re- rl sulting from the world war have completely disarranged the world's commercial chessboard.A regrouping is taking place whereby the relative positions and spheres of influence of the leading commercial countries are being vitally affected.Prior to the war Great Britain, Germany, the United States andFrance, in the order named, divided the lion's share of the world's foreign trade.Now the way seems open for the United States to take first place.From a debtor it has become the leading creditor nation of the world.Japan's foreign trade exhibits a remarkable growth.In 1913 it had a balance of trade of imports over exports of approximately $48,485,715.In 1917 the export trade of Japan showed a balance of $283,606,295 over imports.Of the neutral countries of Europe, Sweden, Denmark and Spain show a great proportionate growth in their foreign trade during the war, as do also Argentine, Brazil and Chile.On the other hand Great Britain and France have suffered heavy losses in the money value of their foreign trade.So, too, Russia, the Nether- lands and Norway.This universal dislocation of commerce and trade, involving loss of trade on the one hand and acquisition of new markets on the other, has greatly stimulated activity in foreign trade.Efforts to regain what has been lost or is being endangered by new competitors, and to hold and expand what has been newly acquired, sur- pass all precedents in scope, in keenness of rivalry and in systematic methods of endeavor.The attention of business men has been thoroughly aroused as to the future possibilities of foreign markets, not as dumping grounds for temporary over-production, but the Department of Public Service Administration.The Department of Commerce and Industry is mainly con- cerned with the development of trade, with vigilance, with sugges- tion, with information and with the duty of thinking out and assisting national commercial and industrial policy.It is sub- divided into the following divisions: (a) Commercial Relations and Treaties, (b) Overseas Trade Development and Intelligence

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