Commonwealth Common Market: A Proposal

adjustment advanced countries balance of payments Britain British capital British exports cent Commonwealth Common Market Commonwealth countries Commonwealth Development Fund Commonwealth markets Commonwealth trade comparative advantage comparative cost criterion coun countries concerned currency Customs Union decline demand developed countries dollar domestic economic development economic growth effects engine of growth establishment Europe European Common Market exchange rates expansion export earnings external finance flow fluctuations foreign capital Free Trade Area growth impulses growth transmission imports income increase interest rate intra-Commonwealth trade investment labour liberalization loans London manufactures means measures member countries ment million monetary negotiations non-sterling pattern of trade payments deficit period primary producing countries private capital problems production restrictions Rome Treaty sector share stability stages sterling area countries tariff tariff reduction terms of trade third countries tion trade diversion Treaty of Rome underdeveloped countries United Kingdom wages wealth countries