The major advances in transport services and the export of capital from Europe during the years 1870-1914 made possible the development of a true world economy. This volume studies the British Empire's export activity in light of its world power status. Saul traces the development of British overseas trade from its beginnings prior to European imperialism around the world through its standing at the outbreak of World War I. The major advances in transport services and the export of capital from Europe during the years 1870-1914 made possible the development of a true world economy. This volume studies the British Empire's export activity in light of its world power status. Saul traces the development of British overseas trade from its beginnings prior to European imperialism around the world through its standing at the outbreak of World War I.