Great Britain: From Good to Fair

The British, who had been telling themselves for several years that they never had it so good, are now getting the word that 1960 was only fair.

Though the country's imports shot up 14% last year, exports rose a mere 6%. In comparison, West Germany's exports rose 16.7%, France's 28%, Italy's 26%. Last week 13,500 British autoworkers were out of jobs, and the carmaking industry was operating at half of capacity. Despite a rush of "hot money" to London in the year-end flight from the U.S. dollar, Britain's 1960 balance of international payments...

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