ABSTRACT
American competition in the UK market would, even more than European competition, administer the “salutary jolt” which would encourage or force British industry to improve productivity. New “special arrangements” would not have to be negotiated to prevent damage to New Zealand and others. American investment up till now has certainly been beneficial to the nation’s balance of payments and to its overall efficiency. The British interest lies in freeing trade on a permanent basis so that British industry obtains the benefits of the largest possible potential markets and in order that competition can work its usual beneficial miracles at home. A vision though of an economic community of the free world, with hope of sweeping away the trade barriers which do so much to prevent the world reaching its full economic potential, could all the same stir imaginations in Britain and in the USA.
