In pursuit of its economic interests as a growing high income country, Australia continued to play an active part in world economic affairs during the ’sixties. Hitherto largely dependent on the West – particularly the United Kingdom – for much of its development capital and trade, it has increasingly felt negative pressures from Europe fortunately offset by positive opportunities in Asia and the Pacific. There has been a diversion of an increasing proportion of its trade to these latter areas, and a ready acceptance of a growing amount of capital from North America as well as from the United Kingdom.