Almost unnoticed, a startling shift of economic power has taken place: West Germany has toppled Britain from its position as the world's second-ranking (next to the U.S.) exporter of manufactured goods.
The change occurred in the last months of 1958. British manufactured exports leveled off to about $7.5 billion, while the Germans reached and passed this point, reported the London Observer's Economic Editor Andrew Shonfield.
The Germans are gaining on the British not only in Western Europe but, surprisingly, in Britain's own sterling area as well. The Jan. 1 opening of the six-nation European Common Market—with West Germany in and Britain out—should...
To continue reading:
or
Log-In
