Book contents
- Frontmatter
- Preface
- Contents and Contributors
- Maps
- Part One The Australian Community
- Part Two The International Community
- 3 Foreign Trade
- 4 Foreign Payments
- 5 Foreign Investment
- 6 Foreign Aid
- 7 Immigration: 1949–1970
- 8 The United Nations
- Part Three The Pacific and Asia
- Part Four The Seventies: Australia’s Options
- Index
- Plates
4 - Foreign Payments
from Part Two - The International Community
Published online by Cambridge University Press: 29 March 2024
- Frontmatter
- Preface
- Contents and Contributors
- Maps
- Part One The Australian Community
- Part Two The International Community
- 3 Foreign Trade
- 4 Foreign Payments
- 5 Foreign Investment
- 6 Foreign Aid
- 7 Immigration: 1949–1970
- 8 The United Nations
- Part Three The Pacific and Asia
- Part Four The Seventies: Australia’s Options
- Index
- Plates
Summary
In the period under review, 1966–70, Australia was singularly free from the ’constant balance of payments worries’ of the 1950s and early 1960s. The problem of external balance – of finding enough foreign exchange to finance an ever-growing import bill – which, in the preceding two decades and indeed in many earlier periods of Australian economic history, had never been far from the centre of concern of Australian economic policy-makers, all but vanished, at least for the time being. On the contrary, towards the end of the period, Australia, to her own surprise, found herself embarrassed by a plethora of foreign exchange, in a small way paralleling the discomfiture of the major surplus countries, Germany and Japan,
Keywords
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- Information
- Australia in World Affairs 1966–1970 , pp. 131 - 144Publisher: Cambridge University PressFirst published in: 2024