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Comment
CONFIDENTIAL
Pre-
The coincidence of the determined run-down in the
industry and the general state of the economy have
certainly added to social problems but a factor
contributing to the unemployment figures in the
textile industry is the fact that weaker firms (whose
disappearance is surely one of the main constituents
for a healthy and competitive industry) were enabled
to hang on in the market in 1969 and 1970 because the
healthy competition provided by imports was reduced
in those years.
7
CONFIDENTIAL
/(ii)