FOREIGN TRADE: The Cupboard Is Bare

FOREIGN TRADE What are Japan's chances for a resumption of her once great foreign trade? What has happened to the zaibatsu, the handful of mighty industrialists who carried on the bulk of Japan's internal and external business? Last week, on these questions, TIME'S Chief Pacific Correspondent Manfred Gottfried reported from Tokyo:

Any American and British worries about Japs again flooding world markets are premature. In the foreseeable future, the Japs have a desperate problem of meeting their own needs. Right now, Japan is an industrial dust bowl.

Peacetime Japan needed over 5,000,000 tons of shipping to maintain her low standard...

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