State of the economy-Trade and invisible earning Flashcards
1
Q
What was Britain’s global trading positon in the nineteenth century?
A
They were the biggest in the world, ‘workshop of the world’
2
Q
What percentage of world trade did GB have in 1914?
A
25%
3
Q
What was the state of Britain’s trade balance in 1914?
A
Invisible exports maintained trade balance even though imports were rising, and exports were decreasing.
4
Q
What were ‘invisible exports’?
A
Investments in foreign countries and banking
5
Q
What other type of holdings brought money from overseas to Britain?
A
Overseas investments were 32% of GB national wealth.
