The Commonwealth in World Trade

The year 1969 was one of consolidation for Commonwealth trade after the events of 1966 and 1967, including the series of currency devaluations, in which most Commonwealth countries had participated except Australia, Canada, Pakistan, Malaysia, Singapore, Zambia, Nigeria and the members of the East African and South African customs areas. With commodity prices favourable to producers in 1969, notwithstanding significant and important exceptions, and the continuance of the “green revolution” in India and Pakistan, the Commonwealth shared in the expansion of world trade at a record pace.


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