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.
I think the UK ran a deficit with India, but a surplus with (richer) countries that bought those high value items.
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.