trade and commerce Flashcards
until the 1960s what was central to br international trading position
the empire and commonwealth
why was the empire and the commonwealth so central to be international trading
because br foreign exchange reserves were too low to import from elsewhere
give an example of heavy br investment in empire
58% of uk overseas investments were in empire companies and govs
what was there a shift in between 1947-67 in trade
the importance of empire as a supplier of british imports
what was the point of transition in trade
late 50s into early 60s
after the shift in br trade where does the focus go
europe
give an example of br focus on europe
br imports from w europe between 48-65 go from 20-30% of global imports
what does the shift in br trade focus hilight
a shift in priorities and a move away from the empire
give a reason for why be shifted focus to europe
a growth in european markets thanks to us aid
why did w europe recover from ww2 economically so quickly
us marshall aid
political climate favoured enterprise
what was the EFTA
European free trade association
why was the EFTA created
as a rival trading block to the EEC
when did br apply for the EEC and what happened
1963 1967
they were rejected
why did br apply to the EEC
Exports to europe outstripped the ones in the empire in the 60s
when does be join the EEC
1973
