§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what assessment he has made of the effect of the Japanese trade surplus on the world economy.
§ Mr. NelsonThe Japanese trade surplus reflects, in the main, structural factors, such as the high domestic savings ratio, and Japan's relative cyclical position. Free trade is vital to maximise the opportunities for world growth; the world economy would benefit from any reduction in restrictions on access to the Japanese market.
§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer if he will publish a table showing for each year since 1964(a) Japanese imports and exports of (i) goods and services, (ii) goods less manufactures and (iii) manufactures, (b) the trade-weighted nominal exchange rate and (c) the relative export prices of manufactures.
§ Mr. NelsonThe relevant statistics are available from the Organisation for Economic Co-operation and Development statistics directorate publication "Current Economic Indicators", the OECD publication "Monthly Statistics of Foreign Trade" and the International Monetary Fund publication "International Financial Statistics", monthly and yearly editions.