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British cotton was an international industry, with all raw material imported and most cotton... exported. This could be an advantage; for example India, the jewel in the imperial crown, bought 23 percent of English cotton exports in 1850, and 31 percent in 1860. However, it could also meanvulnerability to global events: in the mid-1860s the ...caused a "cotton famine" by interrupting supplies of raw cotton.
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