In the early postwar era, Britain enjoyed a very close economic relationship with Australia and New Zealand through their common membership of the Sterling Area and the Commonwealth Preference Area. This book examines the breakdown of this relationship in the 1950 and 1960s. Britain and Australasia were driven apart by disputes over industrial protection, agriculture, capital supplies, and relations with other countries. Special emphasis is given to the implications for Australia and New Zealand of Britain’s growing interest in European integration.