Business: TRADE: DANGEROUS DRIFT FOR THE U.S.

TURNING away from the fitful franc for a moment, the International Monetary Fund last week reported some sanguine statistics about world trade. For the first time, nations are selling goods and services to each other at a rate of more than $200 billion a year. The flow reached $209 billion in this year's third quarter, an increase of 8% in the past twelve months. Altogether, the industrial nations increased their exports by 116% in the past decade.

Still, not all did well. Britain's exports rose only 45% during the same period. And while the...

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