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As regards Great Britain, the giant trader who has so long overshadowed Asiatic commerce, Lord Charles Beresford says: "But competition is telling adversely; the energy of the British merchant is being equalled by other nationals. . . The competition of the Chinese and the introduction of steam into the country are also combining to produce changed conditions in China." But far more ominous is the plaintive note he sounds when he says: "New industries must be opened up, and I would especially direct the attention of the Chambers of Commerce (British) to . . . the fact that the more the native competes with the British manufacturer in certain classes of trade, the more machinery he will need, and the orders
