The Waterbury Democrat., 1943-10-25
SLOAN URGES A 2-WAY BASIS IN
 POSTWAR TRADE
Bv ANTHONY c. DeLoRENzO

By ANThUNx Os UGAWNMNAV united Press Stan CorrespOndentl
 Detroit. oct. 2B.-- (UP) One ol the automotive industry's most in. fiuential leaders, Alfred F. Sloan. Jr,, of New York, believes the ace tolerated overseas operations of American business and industry after the war should be conducted on Q ''two-way street" basis.
 Sloan, chairman of General Mo- tors Corp, the industry's largest producer in war as well as in peace. recommends that a sound and just peace be fortified by an intelligent system of world trade whereby we exchange our goods and services freely with those of other countries.
 The veteran industralist told the Economic Club of Detroit recently that America tried to ignore this cardinal principle during the boon1- ing '20s land thereby learned . costly lesson"
 ". whether we export our goods, our services, or our capital and know-how,' we can be paid only by accepting, directly or In. directly, goods and services In re- turn" Sloan emphasized. "There Is no other way.
 GAS our national income expands we shall need more of the products of other countries, for no nation is entirely self-contained. If we buy more we can sell more in return. But there is no avoiding this fun. damental principle"
 Sloan believes the primary ob- jective of industry and government after the war should be finding jobs for 65,000,000 persons. To achieve this goal, 1t Is obvious that An- erican industry must strive to de- velop extensive overseas markets.
 The GM chairman noted, however, that since the last war there has been Q trend In many countries to- ward "self.containment."
 "The export of motorcars, for inc stance" he said, "has been preju- diced by the desire, and Q perfectly natural one, for other countries to keep to themselves the wealth cree ated in the production of goods. Even if their people must pay higher prices for less desirable goods, and they do, nevertheless there may be real or apparent offsetting benefits for the nation as Q whole"
 Sloan also forecast postwar trend of industrial development by some countries "frorn the point of view of national defense"
 ITO use the n1otorcar industry as a case study" he explained, it will increasingly have to decide whether to enter the industrial scheme of other countries and manufacture locally or lose such markets to the domestic enterprise of foreign coun- tries."
 Sloan said stabilization of inter. national exchange, adjustment of tariffs, elimination of quotas and more intensive promotion of for- eign markets would promote sound, orderly world trade.
 He urged that industry and gov. ernment join hands to export our labor and material in the form of goods and services" In addition, he said, i've can help others and earn Q profit for ourselves by judiciously exporting our know-how and our capital through establishing pro- ductive enterprises"
 By so doing" Sloan said, i've benefit through the resulting gen. eral stimulus to international trade and through the profit return on our capital"
 Tn It's last full year before the outbreak of war in Europe reduced It's markets, the automotive indus try exported i6i ,6I5 passenger cars and l5l,623 trucks. Its best auto mobile customers abroad were the Union of South Africa, which bought 2i,72S units, Canada, Aus tralia, Sweden, Belgium, Brazil Mexico Columbia and India.
 Largest foreign buyers of Amer ican-made trucks before the war were India Belgium, Hong Kong, South Africa and Brazil.
 It is no secret that most industry leaders feel the greatest expansion in overseas markets will occur in the countries of Latin America.