NEWS OF THE WEEK.
THE event of the week is the publication of an agreement between Great Britain and Germany upon future policy in China. The agreement is intended first of all to secure the "open door," the "Contracting Parties" declaring it "a matter of joint and international interest that the ports on the rivers and littoral of China should remain free and open to trade, and to every other legitimate form of economic activity, for the nationals of all countries without distinction." With this object the two Governments pledge themselves not to "use the present complications in order to obtain territory, and to direct their policy towards maintain- ing undiminished the present territorial condition of the Chinese Empire." If any Power violates this principle, the two Governments reserve to themselves the right of taking steps for the protection of their own interests. This agree. ment is to be "communicated "—not submitted—to the other Powers, and their adhesion to its principles is invited. We have underlined a few words because we believe them intended to cover free banking, free mining, and free railway construction in China, which are economically as important as free trade. We have discussed the political aspect of this agreement at length elsewhere, and need only remark here that while this agreement lasts neither Britain nor Germany can be left isolated in China.
