▲ | refurb 14 days ago | |
> Britain had a massive trade deficit with India. Google tells this isn’t true. The UK actually had a massive trade surplus because it received cheap resources from India, then sold back high value items. All of this was controlled by strict trade rules. | ||
▲ | graemep 14 days ago | parent [-] | |
Britain imported resources India which was a source of resources, which it then used to sell high value items globally. I think the UK ran a deficit with India, but a surplus with (richer) countries that bought those high value items. |