Why could Manchester never recapture its old position in the Indian market after the war?
CBSE Class 10
CBSE Class 10 Social
2018-03-06 14:35:12 UTC
Unable to modernise and compete with the US, Germany and Japan, the economy of Britain crumbled after the war.
Cotton production collapsed and exports of cotton cloth from Britain fell dramatically.
Within the colonies, local industrialists gradually consolidated their position substituting foreign manufacturers and capturing the home market.