Britain's foreign investment cultivated foreign economies for the use of sterling. In 1850, Britain's net overseas assets grew from 7 percent of the stock of net national wealth to 14 percent in 1870, and to around 32 percent in 1913 (Edelstein, 1994).
Britain's foreign investment promoted the growth of foreign economies to utilize sterling. In 1850, Britain's net overseas assets increased from 7 percent of total national wealth to 14 percent by 1870, and to approximately 32 percent by 1913 (Edelstein, 1994).