Economic Notes

Two recent articles in ‘ournals specialising in economic affairs need drawing to the attention of Week readers. The first, concerning the drestic decline in the number of shops, is yet another very clear indication of the growing structural monopolisation of Britain. The other, making a prediction of a slowing down in the growth of world trade, shows that the next period will be one very unfavourable fer Mr. Wilsen's attempt to salvage British capitalism, Sharp drop in number of shops: The traditional picture of Britain as a nation of shopkeepers is fading fast. Preliminary results of a census published in this montn's Boerd of Trade Journal show that in 1966 there were about &% fewer shops than five years earlier, but they sold abcut 7% mare goods between them. The decline is greatest among grecers and other food retailers, clothing shops and general stores while the booming retail businesses are radio and television hire shops, mail order, launderettes and automatic vending, In all, there were 498 000 establishments in 1966, 80 000 fewer than in 1961, with a total turnover up by about a quarter to £10 950m. The impact of supermarkets is seen by the reduction in the number of grocers from 151 154 to 122 336. Confectioners, teoacconists and newsagents were down from 70 662 to 63 015 and clothing and footwear shops from 96 612 to 81 544. Slower growth iA world trade predicted: A warning of slower growth in domestic expansion and international trade is given in this month's issue of Barclays Bank Review. ‘Throughout the coming year great care will clearly he taken in all countries to ensure that whatever degree of domestic expansion may he gen= erated does not in any circumstances exceed the rate of growth which the economy can sustain,' says the leading article, 'For the moment therefore it would be as well to regard the days of a better than 5% growth rate as over for most countries; for the develeped countries these are more likely to be the days of 3 per centers. So far as the practicalities of business are concerned, this means tmt the buoyancy of world trade is going to be less than in the past 10 or 15 years,' the Review says. The article states that no western country is likely to start a consumer~orientated boom hoping that a sub-~ sequent rise in exports will restore the external balance of the economy, One good result that might spring from these cautious feelings might be the encouragement of a collective arproach to these problems. Some of the underdeveloped countries are apparently unable to handle their problems even when help is forthcoming, the Review says. ‘Undoubtedly, the frustration felt by many individuals and institutions who have desired to help is one of the most disturbing elements in this complex situation,! it goes on. ‘There is foreboding in a state of affairs which compels hoth sides to regard the 1960s not as the decade of development as was once hoped but as a decade of disillusionment'. The outlook for underdeveloped countries is far from bright in 1968 and 1969, the Review warns,