ABSTRACT
Great Britain will always be interested in foreign trade; the only room for difference of opinion concerns how much foreign trade we are to have, and on what principles it is to be conducted. For nearly a hundred years British policy was founded on the assumption that we want the maximum possible volume of foreign trade, and that if every country specializes in producing those goods or those services in which it most excels, the wealth of every country will be increased. A policy of increasing our exports has certain implications for the remainder of our economic programme. The practical programme is based upon the fact that, whether or not we believe in having as much international trade as we had in the Free Trade days before the War, we certainly need more international trade than we have at the moment.
