The Empire Strikes Back: Hong Kong and the Decline of Sterling in the 1960s

  title={The Empire Strikes Back: Hong Kong and the Decline of Sterling in the 1960s},
  author={Catherine R. Schenk},
  • C. Schenk
  • Published 1 August 2004
  • History, Economics
The aftermath of the sterling devaluation of 1967 is usually portrayed only in terms of the performance of the British economy, but it had more far-reaching implications, exposing the changed financial relationship between Britain and its overseas dependencies and prompting the end of the sterling reserve system. This article explores the reasons why Britain was forced to offer its first exchange guarantee to Hong Kong in May 1968. Prolonging the colonial monetary system devised in the period… 

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  • C. Schenk
  • Economics
    Financial History Review
  • 2009
Abstract Hong Kong SAR is well known as one of the few economies to operate a form of currency board as the basis of its monetary system. This system arose out of colonial status and has been

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The ‘one country, two systems’ structure established to govern the relationship between Hong Kong SAR and Mainland China was an innovative and comprehensive solution to particular economic and

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Abstract At a time when the United Kingdom accelerated decolonisation and slowly embraced Europe, London gradually lost the means and the will to fulfil its responsibilities to Hong Kong up until the

Britain, European Economic Community Enlargement, and ‘Decolonisation’ in Hong Kong, 1967–1973

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  • Richard Fast
  • Economics
    Financial Markets, Institutions and Risks
  • 2021
This literature review is a synopsis of what has been written on the currency and monetary policy of Hong Kong since its relinquishment from Great Britain in 1999. In particular, this paper examines

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The Sino-British agreement and the resumption of Chinese sovereignty over Hong Kong in 1997 have posed fundamental questions about the future of that state and the political and individual liberties

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  • C. Schenk
  • Economics, History
    Financial History Review
  • 1997
The currency boards which dominated British colonial monetary systems were widely criticised by contemporaries. More recently, Alan Walters and others have suggested that colonial currency boards

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This article seeks to explore the background to the Wilson Government's decisions of 1967‐68 to pull back British forces from South East Asia and leave the Singapore base. It challenges assumptions

The Hong Kong Gold Market and the Southeast Asian Gold Trade in the 1950s

  • C. Schenk
  • Economics, History
    Modern Asian Studies
  • 1995
Abstract In the 1950s Hong Kong was the centre of the Southeast Asian gold trade due to its traditional facilities as an entrepot. In the postwar period, however, this trade took place illegally,