Word: malayas
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There is trouble in other areas of the rubber business, too. In Malaya, there is so much natural rubber in storage that prices have fallen from around 21? a lb. to as low as 15?. Some planters fear that they may fall to 10?. The reasons are 1) the club held over crude prices by U.S. synthetic-rubber production and 2) estimated world production of 1.2 to 1.5 million tons of natural rubber in 1947, equal to 1941's alltime record...
...Author Wynd was born in Tokyo of Scottish (Baptist missionary) parents, was thus a Japanese citizen as well as a British subject. He lived in Tokyo until he was 18. Then he went to high school in Atlantic City, to the University of Edinburgh, and wound up in Malaya as a British intelligence officer with the Indian Army. The next time he saw Japan was as a prisoner of war. He started his novel in Bibai Prison Camp...
That implacable educator, History, at last assigned a lesson that even the duller members of the class could grasp. Britain, its Government had announced, no longer possessed the resources to continue its comparatively puny military aid to Greece. India had all but left the Empire. Burma and Malaya were going. South Africa was tugging at the tether. In the citadel itself were hunger, cold and socialism...
...Malaya, the long-range prospect is even more discouraging. A self-governing Malaya assumes that the people who live there think of Malaya as a nation to which they owe allegiance. At present the Malays (41% of the population) obey their scattered sultans; the Indians (13%) give allegiance to their religious communities, and the Chinese (43%) look to China...
...natural rubber available this year (975,000 tons) as in 1939 (990,000 tons). Estimates for 1947: between 1,112,000 and 1,412,000 tons. But another reason was that Britain has been losing money on its state trading. The Government bought thousands of tons of rubber in Malaya at 23.6/ a pound, thought rubber was scarce enough so it could keep the price pegged at this level. But the high price brought out so much rubber that the price fell to 20.25?. This lesson in free enterprise economics can cost Socialist Britain millions...