BUSINESS ABROAD: Blitzed Boom

Since World War II the new city that rose from the rubble of blitzed Coventry has epitomized British economic recovery. Coventry's citizens last year made higher wages, owned more autos and TV sets, built more houses than those of any comparable city in Britain. But Coventry's boom is being blitzed by the government's deflation program (TIME, Feb. 27). The auto industry, which employs 60% of the midland city's 172,000 workers, last week was shutting down assembly lines and was cut back to a four-day week, while unsold cars spilled over onto abandoned airstrips and playing fields. And there was...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!