A two-page 1898 article from the British journal Engineering on the economics of cotton spinning in Japan and China. It reviews Japanese mill returns for the half-year ending December 1897, covering spindle numbers, profits per spindle, rising costs of coal, raw cotton and wages, and reserve funds. It then looks at the new foreign-owned mills at Shanghai, with their costs, labour, dividends, yarn prices and yarn import figures for 1896-97, and considers what this competition means for British (Lancashire) manufacturers.