Stranica 4 [4]
—m page four ¬
that in an election year this is impossible, and that even the
contrary trend should be expected, Leaders admit, that the pre¬
sent subsidy system is all wrong, that it lowers the moral stan¬
dards of Europe and gives few retums in good wille They agree,
that a liberal economic policycould remedy the crisis of Europe
and ben the danger of East-West trade, But théy seem unable to
do something about it before November 4th, |
In the meantime nevertheless things will happen, They a
are due before all to the fact, that American exports are hitting
an all time high. They have reached, till June ist, the sum of
7.814.800/000 Dollars, as compared to 6.069.600,000 for the cor¬
responding period last year, At the same time, as we have seen,
European exports to America have @eclined following the restric=¬
tionsalready imposed and the danger of further similar measures.
This may well foree Europe to very drastic measures, before a
new definite trend of American commercial policy can be devised
following the elections. ¬
The first danger will be the next meeting in October in
Geneva of the Nations partaking in the General Agreement on Trade
and Ta riffs GATT, The European Delegations will be up in arms
at that time, and the Americans will be in a very dangerous
position, especially since they will be unable to say anything
definite or binding for 1953, There is a great danger, that
the Europeems, faced with the American position, might take
steps, that will eventually break up GATT altogether,
Te second and no less danger is the breaking up of the
Western Front in the field of Trade. Already the pressure for
trade with the USSR is becoming almost unbearable, If the GATT
meeting turns out to be as unsuccessfull as it is to be feared,
several of the European Nations will no longer stay in line.
It is in the light of these basic facts that political
observers now begin clearly to perceive the true sense of the
Moscow Economic Conference. It was not, as to many optimusts pre¬
tended, just another propaganda devise, with not much consequencB3
it was in reality a political move of first rate importance,
whose consequences will only be felt in the minth's to come.
Moscow has laid one of its most deadly traps. It is possible,
that it will fimetion this year, destroying many of the politi¬
cal defenses built up in the past. Ot is a situation which de¬
mands close and continuous attention. a
re
43.