In its race to grab a bigger chunk of the world trade market than it ever had before, Britain passed the first lap last week. And it was running well ahead of its schedule to pay off its import debts by exporting 75% more goods than it did in 1938. Only six months ago, the goal seemed impossibly distant. Exports were barely 50% of the 1938 monthly rate.
But in May, for the first time since war's end, export volume was greater than the May 1938 volume by a good 15%. The British were...
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