WORLD ECONOMIC SURVEY 1955 UNITED NATIONS Department of Economic and Social Affairs New York, 19565/2068 ST/BCA/S8 27 Apel 1956| UNITED NATIONS PUBLICATION Seles No. 1956, ILC. 1 Price: SUS. 200; 14/- ste. : Suir. 850 (or equivelent in other euerenoies)FOREWORD This report, World Beonomic Survey, 1955, isthe eighth in a series of compre- hensive reviews of world economic conditions published by the United Nations. It is issued in response to General Assembly recolution 118 (If), in which the Secretary General was asked to prepare annual factual surveys and analyses of world economic conditions and trends, The report is iended to meet the requirements ofthe Economic find Sociel Council and other organs of the United Nations for an appraisal of the world economie situation as a pretequisite for recommendations in the economic fild, 48 well as to serve the needs of the general public, Part I of the present survey complies with the request of the Eeonomic and Social Council, contained in a decision of 6 December 1955, that in connexion with the celebration of the Council's tenth anniversary at the twenty-second session, the Seeretariat chould devote special attention, in some of the important documents relating to the world economic situation, to developments during the past ton years. To this end, chapters 1 and 2 review the growth of production and trade in the private enterprize economies during the first post-war decade; and chapter 3 covers the same ground for the cenbally planned economies. Drawing upon the analyses in these chapters, the Introduction examines some of the major problems of balanced growth encountered since the war Part II of the survey is devoted to an examination of xecent developments in the world economy. Chapters 4 and 5 deal, respectively, with the recent situation in industrially advanced and primary producing private enterprise economies. They also contain brief assessments of the economic outlook at the beginning of 1956, based largely upon replies by governments to a questionnaire concerning full employment ‘and the balanee of payments circulated hy the Secrctary-General in November 1956. Chapter 6 contains an account of recent changes in the centrally planned economies and of ecttain long-term economic plans of which details have recently been published. ‘There are published as supplements to this survey reviews of economic conditions in areas outside the scope of the work of the regional economic commissions of the United Nations: Economic Developments in the Middle Bast, 1954-1955 (195611.C.2) and Economic Developments in Africa, 1954-1955 (1956.11.63) ‘The basic data used in the report aro, in general, as published in governmental or inter-governmental sources, ot as officially reposted to the United Nations and its specialized agencies, The significance of the figures may vary from country to country, depending on the statistical concepts and methods followed and on the stwucture and evelopment of the national economy. Fos this reason, the compilation of international statistical tables requires that attention be given to any important elements of non: comparability or qualifications attaching to the data; these are usually shown in the tables of this report or in the publications of the United Nations and of the specialized agencies that ecntain the hasic data from which many of the tables have been pre- pared. Some of the data have been specially tabulated by the Statistical Olfce of the United Nations. ‘The survey was prepared in the Department of Economic and Social Affairs by the Bureau of Economie AffairsEXPLANATORY NOTE ‘The following symbols have been used in the tables throughout the report: ‘Three dots (...) indicate that data are not available or ae not separately reported ‘A dach (— ) indicates thatthe amount ie nil or negligible A blenk ina table indicates that the item is not applicable ‘A minus sign (-) indicates a deficit or deerease A full stop ( ) is used to indicate decimals Avcomma (,) isused to dist A slash (/) indicates a crop year or financial year, eg, 1953/54 thousands and millions Use of @ hyphen (-) between dates representing years, eg, 1950-1954, signifies the full period involved, including the beginning and end years References to “tons” indicate metzie tons, and to “dollars” United States dollars, unless otherwise stated. ‘The term “billion” signifies a thousand million. Details and percentages in tables do not necessarily add to totals, because of rounding.TABLE OF CONTENTS Pee IntRopucTION. BALANCED GROWTH: AN APPMAISAL OF THE POST-WAR RECORD... 3 Port 1 Beonomic Growth in the Post War Decede 1. Pronuction iw THE PRIVATE ENTERPRISE. ECONOMIES. Ree uv From reconstruction to long-term growth, Ww The dimensions of postwar growth... = wo By Allocation of resources to investment and consumption 7 27 Demand for primary products aaa Bet 3 Growth in. manafacturing : : 40 ‘The contiibution of higher productivity : 46 2. INTERNATIONAL TRADE AND PAYMENTS ‘The expansion in world trade. 50 The lag in world trade in primary products... i oe 53 The growth of world trade in mansfactures, - Penne 58 The improvement in wes of ade of primary produces & anges in the regional pattern of trade erro nre ‘The compartmentalzation of world trade... ee 6 ‘The problem of international balance : im A post-war perspective : 8 3. PRODUCTION AND TRADE OF THE CENTRALLY PLANNED ECONOMIES Post-war institutional changes : 87 Growth of industrial production ena recat 89 ‘The slow recovery in agricalture 100 ‘The national income and its composition 106 Expansion of foreign trade. 10 Part Current Economic Developments 4. RecoNT TRENDS IN INDUSTRIAL COUNTRIES ‘The eutrent economie expansion : 125, Major factors in the expansion : : it impact of changes in demand a eeeaeeeE ST Internal and external balance 146 ‘The economic outlook for 1956 _ 152 8. RECENT TRENDS IN PRRYARY PRODUCING COUNTRIES. 155 Tiends in foreign trade é 155 Changes in extemal balance oe 170 Changes in internal belance : : ‘ 15, Economic outlook 188 6. RECENT TRENDS IN THE CENTRALLY PEANNED ECONOMIES. 187 Domestic economic developments 187 Foreign trade 192 Long-term plans of economic development i 19515, a 33. 34, 35. Indies of catagories of tal expen United States snd. westere Europe. cusses . Crude steel production and cantumpiion, ies develop Production of cotton yam, less developed areas. Employment and smemployment, selected dndsstrial counties. -~ Change in industrial dstbution of Tabour fore, selected counties, United States: Productivity and employment in major branches of ma factoring es . Indices of world production and trade. 3, Ratio of imports of goods to national income, by country. ). Indices of manufacturing production and’ iaw mater List of Tables Part Economie Growth in the Post-War Decade 1. PRODUCTION IN THE PRIVATE ENTERPRISE ECONOMIES Indices of commodity output and of population developed and less developed Tndices of components of real gross national product, seloted areas... Indices of me Der eapita gross national product and private consumption, selected areas ee Indies of voluine of opt in agile, mining énd manufacturing, dovloped and less developed areas : : Indices of production of selected foods Indies of production of slsied agicalialvaw matt Indices of word output of metallic minerals - Energy prodtos, conrumption and net Indices of output in major set Europe Ratio of industrial employment to male epilation, eke primary” pro- ducing countries = 2, INtERNATIONAL TRADE AND PAYMENTS Export quantum of primary products, industrial and primary pred countries countries : Exports of man Changes in distribution of exports of manufactures fvom industrial countries, 1938 to. 1954 Changes in distin ‘of eipors of manvfacars fom india counties, 1938 to 1948 and 1948 fo 1934... a ‘Terms of trade, industrial and ‘Terms of trade, by country. Indices of wit vale of expe of anata and primary prod. Changes in volume af exports at 1950 prices. Structure of world trade, by eurreney areas. Compartmentalization of world trade ........- United States: Balance of payments : ‘Wheat production and exports... Supply of dollars by the United States and their use by other countries... 3. PRopucttoN AND TRADE OF HE CENTRALLY PLANNED ECONOMIES Shares of socialized setor in industil production, agrcultare and nation Tadices of gross value of industrial produc Indices of output of basic materials, Page 4 90 1Bt 54, 58. 59. 60. a. 2. 6. 65. 66. 7 69, 70. 7 ccm B m 5. Changes in relative shares of indusry and agriculture, selected 7. Indices of national income, investment and reta >. Indices of trade turnover, by country... 1. Total foreign trade tumover (imports plus exports) . . Indices of textile and shoe production, by country... . Indices of output of producer and consumer goods, by county... . Average annual increase in industrial production, by country. . Average annual incrense in output of basic mate . Indices of industrial employment and output per man, by country . Output of selected crops, by country. fs fuel and power” Number of livestock, by country... wn area and yield of selected crops, by countiy Indices of land utilization in selected countries, 1952 Rural and urban population, selected countries. sae in ‘Constant prices, by ‘country Gross fixed investment by sector, selected countries. Indices of industriel production and foreign trade, by country. - sogiaphic distribution of tolal trade, by count idiges of foreign trade among the centrally planned economies. - ‘Trade of centrally planned economies with rest of world, . Commodity composition of foreign trade, by country. . Exports of western Europe to eastern Europe. Exports of selected commodities from eastern Europe to western Europe. Past 1 Current Economie Developments 4, ReCeNF TRENDS IN INDUSTRIAL. COUNTRIES Real gross national product and its major components, by country... Changes in total gross fixed investment, investment in industry and in housing, selected countries -...-. : a United Kingdom: Changes in investment expenditure... hangs ip otal grog ied investment, invesinent in industry and i how, Belgium, France and Italy Cannda ‘ond United States: Indices of grows fied “nvesimeat and ito major components Changes in eal gras national product, veal private dispobie income and reat personal consumption, by county... : : anges in teal constmplion and its major components, by country Ganges in consumer expenditure an motoreas, by eaunisy- Industrial production and its major components, by country Changes i industrial prodution and is major component in waster Europe Steel production and trade, selected countries. : Supply of hard coal, selected countries... : ‘Changes in employment and unemployment, by country United Kingdom: Intracindustry shifis of labour Changes in imports and exports of western Europe. Changes in imports and exports of North America Unemployment ratios, selected countries. Changs in average hourly earnings in manufactsing, cot of living ad import ices, by country. : Todices of commercial ank ced, selected countries 5. RECENT TRENDS IN PRIMARY PRODUCING COUNTRIES Gross domeate produc, total exports and prnciel export commodities, by country i Indies o Value of net imports of selected commodity group into Nowh Amerie and western Europe World exports, by origin and destination 127 130 BL ie. 138 14. 135 135 138 139 139 M40 ML 42 Ma 5 ur va 152 156 158 159 162|. Union of Soviet Socialist Republics: Government it Mainland |. Changes in destination of exports, selected groups of countries. . Experts of principal entegortes of manulactures from North America and west ce Europe to selected groups of counties. Ganges in terme of eee, seta grou, by country. Balance of payments, selected groupe of countries... Export, imports and trade bolences, selected groups of counties. . Estimated gross holdings of gold and foreign exchange of official institution selected groups of counties. Frequency distribution of primary producing countries according to changes in costofliving indices |. Indices of industriel production and production of electricity, selected countries Tadiees of dwelling construction, by country Indices of agricultural output, by country 6, RECENT TRENDS IN THE CENTRALLY PLANNED ECONOMIES Indices of industrial production, by country. ... Indies of industriel production, and of output of fuel, power and ba thle : Teds of exploit and out yor men, by eouniey Indices of agricultural output, by country. Indes of nto iene tvxinent ad etal sis, By county Indices of average real wages, by country Planned targets for 1956, Cschoslovalda, exviern Germeny, Hungary and the Union of Soviet Socialist Replies : ponte Indices of trade tunnover, by country Trade of centrally planned economics with rest of world Composition of trade Union of Soviet Sociaist Republic: Pith and sath fiveyeor plans. Union‘ Sone Scie Repubca: Tags for slit prbdue? sod on sumer goode = Union of Soviet Socialist publics: Tndices of agricultural outp retment during sixth five-year plane « Romania: First and second fiveyear plans. Romania: Government investment during fist and second five-year plans + Plaoned changes in structure ‘Mainland China: Planned and actual tates of growth in eettain sectors. Poge 168 165 167 168 169 im 115 i 118 179 187 188 188 199 190 190 1914 B 6 i 10, ro} 13, mw 1s 16 1% 18, 19. a |. Commodity output and population... |. Prices of primaty products in external trade. List of Charts 1. Propuction IN THE PRIVATE ENTERPRISE ECONOMIES Gross national product, total grose fixed investment and gross fixed productive investment sete este Volume of oulput in agriculture, mining and manufacturing... United States: Gross national product, food and wheat consumption. . United States: Manufacturing production and raw material eonsumption Industrial production and employment, 1954. 7 : 2. INPERIATIONAL TRADE AND PAYMENTS Expansion of world trade after the First and Second World Wars........ ‘Volume and unit value of world exports of all goods and of manufachires World food production and trade Volume of world exports of primary products Export unit values of manufactures and primary pro Compartmentalization of world trade The dollar gap 3 eae ts 4. Recent TRENDS IN INDUSTRIAL COUNTRIES Share of durable consumer goods in total consumption, selected countries. Tndices of outstanding consumer credit, Canada, western Germany and United States United Kingdom: Indices of hire-purchase contr and_ motorcycles : : Indices of production and employmer 5, RECENT TRENDS IN PRENARY PRODUCING COUNTRIES: Price indiees and value of net imports of selected commodities into Notth Amorica and western Europe ‘ Distribution of primary producing countries according to changes in cost of living indices and in Balance of trade, 1954 to 195% Tndices of production of selected foods setae ae Pose 51 55 56 66 0 136 136 as7 143 160 176 181INTRODUCTIONIntroduction BALANCED GROWTH: AN APPRAISAL OF THE POST-WAR RECORD ‘The economic progress of the first post-war decade cannot as yet be adequately evaluated. Viewed in terms of past history it appeans truly impressive, but seen in relation to recognized international gools it seems to diminish in significance. Only future develop- ‘ments will show whether the smaller or the larger lens tives the more significant picture. ‘There can be little doubt that the ezonomic record of this postwar decade is superior to thot of the decade following the First World War. Though the domoge and destruction of war were greater by far this time the recovery and growth of output were more rapid and more widespread. Economic crises generated by the war were more readily overcome, and even long standing problems of imbalance and stagnation yielded in pant tothe forces of growth, Nevertheless, the history of the period does not justify untempered optimisma; on the contrary, it provides ground for setious concern. Despite a record of unparalleled growth the problem of moss poverty in a lange part of the world remains as stubborn as ever. Moreover, such growth as has taken place has been due only in part to favourable long-term for to a significant extent it has also been based on special ‘and temporary supports, some of which have beon disappearing in the course of the period. Jn only a few of the underdeveloped countries has per capita eco nomic growth been consolidated to a point where it ray be considered selfcumulating. Even fewer coun tries have been able to develop and diversify their ‘economies suificiently to strengthen their resistance to inflationary or deflationary shocks from abroad; indeed, some countries have even been made more vulnerable to outside shocks by the very process of economic development. And though the developed countries have demonstrated a remarkable capacity for gowth, that growth has not been free from a eon- siderable degree of instability. Indeed, it must always be bore in mind that the process of growth itself tends to generate powerful forces of instability which, if not compensated, may prove frustrating and lead to an_ economic reversal. One decade of prosperity provides no proof either that the world has acquired permanent immunity against the business eycl, or that the national and international remedies in its medicine chests would be sufficiently potent to cope with another ‘outeropping of the disease. A pocape oF cRowrH, ‘The dimensions of postwar economic growth will red in the following chapters. The earth has capable of supporting a far larger population thon ever before. The habitable area of the world has hen expanded and the cultivated lond made to yield larger quantities of food and of raw materials for industy. Industrial output has made great strides, production atthe end of the decade being estimated at more than double the pre-war level. In the underdeveloped countries expanded networks of transportation and communication have made a Deginning towards overeaming the heritage of centuries of economic fragmentation. Incieased energy uilxa- tion—together with the inlsoduetion of modern science and technology—is contibuting towards higher pro ductivity, New industries have been established to pro- vide the nucleus for future growth. Increased exports combined with improved terms of trade have raised the capacity to import of most under-developed coun- tries and have laid the basis for further economic evelopment. Pethaps the most significant advance in the under eveloped counties to date, however, lies not so much in the physical expansion of productive capacity per capita as in the evolution of a social climate favour- able to economie development. The change in social philosophy, especially in countries which have only recently acquized national independence, is of revo- Iutionary. proportions; the vision of economic and social progress is taking its place alongside religion and language as a basis for social integration. Its effects are visible not only in the marketplace but in political and social institutions. Peshaps tho oatstand- ing change is to be found in the fact that governments are increasingly coming to view themselves and to be viewed by theit peoples as engines for the promotion of economic and sovial wellates this has already had {arceaching implications in converting the government budget into an instrument for the development of both atural and human resources. It undeities not only encouraging developments in fiscal policy and od: ation but also widespread reforms of private institutions—most notably in connexion with land ownership—which have in the past stifled econo development. Under its etimulus, a virtual zevolution {in public health has Jifted life expectaney, and a srik-ing advanee in public education has made marked inroads upon literacy, peshaps the most confining bottleneck limiting the rote of economic development. In the indstil countries full employment has been malotaned in peacetime after a decado of mas tn tmmployment before the war. Under the stinulun of constantly rising effective demand, onemployment has Been reduced to levels that would not have etmed cable eater. In ettoapet unemployment lees of prowat yes now seem almost unbelievably high. From levla ranging as high ae 20 to 0 per cent of the labour force nthe nineteen thirty, anemployment fas diopped to a range of 1 to 5 per cent in the fifties, Even so-called suucterel-uncrploymedt hes yielded in ony instances to the force of dynamic tive demand Gontrary to widespread feats, the low unemploy- rent has been associated with a high degree of mobility of resources and flexibility of output. Th js evident, above all, from the ease with which in dustrial countries converted from military to civilian futput at the end of the Second World War and agi at the end of the Korean hostilities. On a more eon- Tinuing basis itis evident also tom the speed with which now products are being introduced, new dlustries established and new regions davelopod within the industrial countries. Again contrary to widely held fears, the low levels of unemployment have generally heen’ aocompanied by sharply rising productivity, 20 that output has risen substantially in relation to man- power. This is not surprising since the high levels ‘of employment have been due largely to continuing igh tates of investment while the growth in. pr ductivity is essentially the fruit of the cumaleted in- vestmont over the decade. It is worth remembering in this connexion that the economic loss of the depres- sion of the thirties was @ dual one: not only vas a large portion of available resources kept idle but the slobal growth in productivity was also impeded by the curtailment of the rate of investment. ‘The growth in productivity and employment hes produced a substantial rise in per capita incomes in Industrial countries as compated with the pre-war ppotiod. Despite the smaller proportion of income ‘generally devoted to consumption purposes, the level of living is significantly above prewar levels. There hhave also been significant improvements in the dis tribotion of income in many countries: labour income hhas become a higher share of total income and the degree of inequality in earnings between sexes, occu- pations and regions has in many instances also been reduced. Equally important has been the effect of highly progressive income taxes in leveling off in comes from the top and of government transfer pay: rents in lifting incomes at the bottom. ‘The growth in output and productivity has also Introduction brought some progress in international economic balance. For the first time in a generation trade re- strictions are being progressively removed, especially by industrial countries, and the volume of international trade has, since 1948, been rising not only in absolute amount but even in relation to world output. The terms of trade in the postwar decade have moved in favour of primary producers after a steady deteriora. tion in the nineteen twenties, followed by a catastrophic drop in the thirties. And while the nondollar world remains in deficit with the United States even after taking into account capital flow, the deficit is smaller than the amount of United Statcs Government aid and roilitary expenditure abroad, so that the rest of the world has in recent years been able to begin rebuild- ing its reserves. Yet the record is not all on the plus side of the ledger. Political tensions have led to x division of the world economy into two virtually isolated sectors, East.vest trade, which prior to the war accounted for about one-eventh of the world total, has divindled to negligible proportions, The tensions have led countries in both sectors to devote @ considerable proportion of their resources to military ‘This has checked the rise in the level of living and the growth in productive capacity, and has limited the contribution which countries ate capable of making towards economic development. In the private enterprise part of the world, the problem of international cosnomie balance remsins far from solved. A hardcore deficit remains with the dollar ara, which is financed not by longterm capital movements but by extreordinary United States foreign outlays. Despite efforts both in lending and horrowing countries to. encourage the international flow of private capital, the volume of such movements romains small by former standards, especially by standards prevailing before the Fizat World War. This is not only because of the greater political and eco. nomic uncertainty which now attaches. to. foreign capital movements; it also reflects in pat the greater pressure of demand for domestic investment in in dustrial countries, which leaves = smaller margin of savings available’ for foreign investment in under- developed countries. Recent increases in interest rates in industrial countries suggest possible further redue- ions in the supply of cepital available for under-de- veloped countries, as well as higher eosts for such international financing a3 may take place ‘The partial drying of the capital stream in itself tends to aggravate international disparities in levels of living, but such disparities are further widened by the virtual cessation of international migration, which, before 1914, contributed towards narrowing the spread between countries, Much of the improvement in the international belance which has been attained to date reflects not increased integration of the worldIntroduction. economy but rather » greater degree of compart- mentalization of regions within the private enterprise ppart of tho world. Economic relations within the dollar area, the sterling area, the European Payments Union area and even smaller subdivisions have been strength ‘ened while trade and capital ties among areas have bean loosened. In the underdeveloped countries, economic growth ignifcant as it has been in many cases by pre-war standards—has not kept pace with the rate in industrial countries. While agriculture and manufacturing have cach expanded at about the same rate in under veloped as in developed countries, the rise in total output has been smalle in the under-developed regions Decause agriculture, which exponded at a much lower rate than manufecturing in both regions, accounts for # much higher proportion of total output. Popula- tion growth, moreover, has heen increasingly more in the underdeveloped than in industeial eoun- tries, The combined difference in output and popula. tion is reflected in a striking disparity in per capita growth: whereas in the developed counties per eapita output has risen about 45 per cent since before the war, in the underdeveloped regions the rise appears to have averaged about 5 per ent. Since 1918 the increase in output of the under evaloped countries has compared more favourably — fr, more precisely, less unfavourably—with that. of the developed countries; indeed, in the Middle East and Aivica, owing toa vematkable expansion of output of petroleum and other mineral, the vate of increase has oven exceeded thet of westsr Europe on en abso- Jute, though not on a per eapite, basis. Though the improvement, as compared with pre-ear trends, pro- Vides wround for considerable satisfaction, it seems too slender a reed on which to suppost a conviction thot tho wide spread betiresn levels of living in under- developed and developed regions may soon be signif cantly narrowed. In the countries of eastern Europe and mainland China, growth in the postwar decade has been eon- ditioned by revolutionary transformation of the economy from the private entexprise system to central planning slong the Soviet pattern. Industry has been nationalized, and while most agriculture remains under private ownership—even expanded under agrarian reforms—it has been subject to an intense drive for collectivization, briefly interrupted in 1953-1954 bat resumed, though with substantial modification, in 1955, With the process of economic decision-making removed from individuals and transferred to central planning authoritss, these eountries have been able to devote a high proportion of their outpat to investment and thereby to accalerte theit roles of economic growth. All countries have given strong preferential treatment to the development of heavy industry as ageinst light and consumer goods industries and— until recently—also agriculture; the major share of investment has gone into the expansion of basic metal, power and engineering industries. The rapidly growing stock of capitel equipment in the producer goods sector and the enlarged flow of output from basic industry have broadened the base for further expansion cof output and income. The level of living has, however, Tifted much less than output has risen, owing to the low priority assigned to light industry and agriculture in the allocation of resourees, In some countries, other then the Soviet Union, agriculture appears to have regained pre-war levels only by 1955, while the Soviet Union, whose farm output hed ‘risen about 10 per cent by 1952, experienced virtual stagnation thereafter until 1955. The slow rate of growth in agriculture is only in port due to inadequate farm facilities, equipment and fertilizers supply. Not only hhas agriculture until recently received a low priority in relation to industry, but output has also fallen far short of planned targets, owing partly to resistance to collectivizetion, and partly tothe lack of incentives for farmers to increase their output in view of the system of compulsory deliveries at low prices and the short- ages of industrial goods. Since’ mid-1953 economic policy has bean revised with a view to increasing incentives for higher farm production; and while the new plans continue to assign highest priority to heavy industry, they give greater emphasis than heretofore to the concomitant expansion of agriculture SPECIAL FACTORS AIDING POST-WAR GROWTH. It would be imprudent to project the record of the first post-war decade into the second. In the under developed countries capital expenditures have been financed not only out of increased production but also out of special sources, many of which are diminish. ing or disappearing. In the early postwar years many countries obtained international assistance through the United Notions Relief and Rehabilitation Ad- rinistration or on a unilateral basis, Others were able to diaw upon var-accomulated reserves of foreign exchange ot upon war claims against allied industrial countries, but this source of finance has virtually dis- appeared. A number of countries continue to receive foreign economic or military aid from governments, on an uncertain year-to-year basis. It i not only these capital items, however, which are diminishing ot un- certain, Certain doubts also attach to the income and production of under-developed countries. Most im: portant in this respect is the benefit they have derived from the improvement in theit terms of trade as com pared with the pre-war period. In the aggregate, this has added fat more to theit import capacity in the post-war decade than have their capital imports. In view of the increasing giavity of problems of com- modity surpluses, part of the improvement in terms of trade seems likely to be lost, poxticularly in the case of agricultural exporters. The fact that in the