THE REVOLUTION IN WORLD TRADE

A long hard look at the change in world trade and what our economic policy should be. Asserting that the lifting of trade barriers is no panacea for world trade, the author stands up for a total policy shaped by strategic survival, in which domestic interests will have to be subordinated. He takes account of Britain, whose going off the gold standard was the end of one world, whose real battle today is the struggle to find the relation between herself and her Commonwealth. He points out that the United States cannot do everything and will be able to do less in time, that she is serving the twentieth century as producer where Britain served the nineteenth as trader. He reveals our relation to Western Europe more military and less economic ties. He sees the Soviet economic siege of the West by taking markets. He hits at the difficulty of trading with a fortress economy and considers a butter guns balance as a means of controlling disarmament and economic intercourse. He notes the pull resulting from the tendency toward self-dependence in the nation and the new needs of the atomic era, finds the trend toward integration of trade blocks important and calls for our working in the free world group of markets with a minimum of dependence on the Soviet bloc. A vital, incisive, fully informed account that challenges understanding and action.