Continued Weakening of U.S. Economic Position in the Capitalist World
Major economic statistics of European countries and the Untied States
[This short unsigned article is reprinted from Peking Review,
SINCE the late 1950s, the balance of economic strength among the European imperialist countries and the United States has steadily changed in favour of France and West Germany to the detriment of Britain and particularly of the United States. This finds its clearest expression in the weakening of the U.S. international financial position, as shown in the following tables.
I. Changes in the industrial production, export trade and gold and foreign exchange reserves of European countries and the United States expressed in percentages of capitalist world totals.
Sources: 1. Calculated according to the Economic Review of the British National Institute Of Economic and Social Research; 2. Calculated according to the journal Foreign Trade of the Organization for Economic Co-operation and Development; 3. All except asterisks are calculated from the International Financial Statistics of the International Monetary Fund; * Figures for the gold reserves of the Common Market Six taken from the General Statistics of the Organization for Economic Co-operation and Development.
II.Changes in international payments and gold and foreign exchange reserves of European countries and the United States. (Unit: 100 million U.S. dollars.)
Sources: *1. Survey of Current Business of the U.S. Department of Commerce; *2. Report on Western Europe of the Chase Manhattan Bank; *3. British Monthly Digest of Statistics; *4. From British journals, the Times, the Banker, the Economist; *5. West German Monatsberichte der Deutschen Bundesbank; *6. Estimated by the London Financial Times; *7. Estimated by the British Government; *8. The French Bulletin Mensuel de Statistique, and Le Figaro; * All figures not marked with footnotes are based upon the General Statistics of the Organization for Economic Co-operation and Development.