FOREIGN TRADE: The Old Order Changeth

In Manhattan's swank Waldorf-Astoria hotel, some 2,000 foreign traders last week were told a fact of postwar life that old China hands already knew. The teller was Clarence Edward Gauss, ex-ambassador to China. Said Mr. Gauss: "China has emerged from the war a fully sovereign state. The vexatious issues relating to special foreign privileges existing in China under the old 'unequal' treaties having been swept away, we must enter upon our postwar trade relations on a new basis.

"We cannot expect for Americans and American interests in China . . . any more extensive rights and privileges or any more...