Traditional Culture Encyclopedia - Traditional stories - When was the dominance of the pound established?
When was the dominance of the pound established?
After the first industrial revolution, in the Victorian era of Britain, Britain achieved high productivity with advanced production technology, so the product cost was greatly reduced, but the output was constantly improved, so it could break through the tariff barriers of various countries and dump. So Britain was called the factory of the world at that time, and the gold standard status of the pound was established. After World War I, Britain was overtaken by the United States because of its war loans, and the center of world trade shifted from London to new york, and the dollar also replaced the pound.
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