No Conservative policy for full employment can ignore the wider world. Clearly, the impact of changing patterns of world trade has an enormous impact on potential markets. Most recently, Britain has come under fierce competition from low-wage competitors in the developing world, which have challenged traditional manufacturing industries. Higher-tech competition from Japan and from some Pacific Basin countries has also had a major impact on manufacturing. Britain has had to turn increasingly to service industries and to higher quality goods to compete. The potential in the higher quality area is immense.
KeywordsPoor Country Poor People Recipient Country Debtor Country Overseas Development
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