World Business: Living It Up

The British like to insist that, more than most nations, they must trade in order to live. Lately they have been trading as never before; their exports rose to a record $11.4 billion in 1963. But Britons have also been living it up as never before. With more money to spare than ever, British consumers are indulging their taste for foreign luxury goods, and British businessmen are importing huge amounts of raw material to keep their expanding factories busy. After months of nervously watching the spectacle, Prime Minister Sir Alec Douglas-Home and his financial agents were alarmed when January's figures showed...

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