The United States and Malaya: 1945-1953

Total Page:16

File Type:pdf, Size:1020Kb

The United States and Malaya: 1945-1953 University of Nebraska at Omaha DigitalCommons@UNO Student Work 12-1-1976 The United States and Malaya: 1945-1953 Joseph W. White II University of Nebraska at Omaha Follow this and additional works at: https://digitalcommons.unomaha.edu/studentwork Recommended Citation White, Joseph W. II, "The United States and Malaya: 1945-1953" (1976). Student Work. 425. https://digitalcommons.unomaha.edu/studentwork/425 This Thesis is brought to you for free and open access by DigitalCommons@UNO. It has been accepted for inclusion in Student Work by an authorized administrator of DigitalCommons@UNO. For more information, please contact [email protected]. THE UNITED STATES AND MALAYA: 1945 - 1953 A Thesis Presented to the Department of History and the Faculty of the Graduate College University of Nebraska at Omaha In Partial Fulfillment of the Requirements for the Degree Master of Arts by Joseph W. White, II December 1976 UMI Number: EP73063 All rights reserved INFORMATION TO ALL USERS The quality of this reproduction is dependent upon the quality of the copy submitted. In the unlikely event that the author did not send a complete manuscript and there are missing pages, these will be noted. Also, if material had to be removed, a note will indicate the deletion. Dissertation Publishing UMI EP73063 Published by ProQuest LLC (2015). Copyright in the Dissertation held by the Author. Microform Edition © ProQuest LLC. All rights reserved. This work is protected against unauthorized copying under Title 17, United States Code ProQuest' ProQuest LLC. 789 East Eisenhower Parkway P.O. Box 1346 Ann Arbor, Ml 48106- 1346 THESIS ACCEPTANCE Accepted for the faculty of The Graduate College of the University of Nebraska at Omaha, in partial fulfillment of the requirements for the degree Master of Arts. Graduate Committee l ) jJ U Tfg- AU&Z Name Department 1 ' Date ^ PREFACE Historical investigation is a self-justifying effort. The discovery of the forgotten event or a different view of a circumstance or condition contributes to the total body of knowledge and needs no further defense. However, in this instance, there is a benefit in briefly tracing the rumina­ tions that lead to this particular study. In short, the historical significance of the post-World War II American- Malayan relationship is hardly self-evident. The obvious questions: why this subject and wherein lies the value? The long, tortuous involvement of the United States of America in what can be called, in an extended sense, the Indochina Wars, has precipitated a fascination in the story of America's post-World War II involvement in Southeast Asia. In the main, the objective has been to fathom the root causes for the American travail of the Sixties and Seventies in Vietnam, Laos', and Cambodia. Understandably, the retrospective efforts proceed with a singleness of -'-The term, Southeast Asia, is used throughout in the contemporary context. It apparently first came into use during World War II; e.g., the creation of a South-East Asian Command (SEAC) in 1943. Prior to the war, the British commonly referred to the area as part of South Asia; Ameri­ cans usually spoke in terms of the Far East. reference and emphasis; the subcontinent, Southeast Asia, is viewed through the optics of Indochina. As a result, terms are often casually interchanged, adding to the concep­ tual muddle; Vietnam is Indochina i£ Southeast Asia. Rarely are Southeast Asia or a specific nation outside of Indochina subjects in themselves. Often obscured or ignored is the fact that in addition to Indochina, Southeast Asia is Burma, - i Thailand, Malaysia, Indonesia, and the Philippines, an area of mainland and island inhabited by diverse people. However, the extra-Indochina American experience is often relegated to footnote status. The total region and its parts are treated only insofar as they are relevant to the American involvement in Indochina. This general observation suggested a question; does the American-Southeast Asia story change in its essentials when viewed from a vantage point other than Indochina? Assuming that the Indochina involvement was motivated, more or less, by a desire to halt the spread of Asian communism, the question can be asked another way. Does that motive explain American interest, influence, and actions elsewhere in Southeast Asia? Post-World War II British Malaya suggested itself as a subject for investigation for several reasons. First, the Malayan experience contains elements which presumably might have drawn American attention in view of the general thrusts of American foreign policy as it took shape during World War II, and as it evolved in the post-war period. For example, Malaya reverted to British colonial status in Sep­ tember 1945 at a time when an accepted tenet of American foreign policy favored progress toward independence for colonial peoples. Though Great Britain had made a commit­ ment in 1943 to the post-war preparation of Malaya for self- government, progress toward that goal was frustrated. The first step proved false; the plan for reorganizing Malaya into a union of states, initiated in October 1945, drew resistance from the very people the British had tradition­ ally sought to protect, the Malays. The second attempt at a "first step," the formation of the Federation of Malaya in 1948, was threatened within months by a savage, insurgent communist activism that threatened both the British attempt to set Malaya on the path of self-government, and the then fragile sense of Malayan nationalism so necessary to an achievement of home rule. By that time, the emphasis of American foreign policy had shifted from anticolonialism to anticommunism. This study suggests that, although American foreign policy addressed itself to both colonialism and communism, neither concern adequately explains the American interest or influence in regard to Malaya. Malaya's status as a British colonial possession was never seriously questioned by the United States; therefore, the preparation of Malaya iv for self-governing status and the task of meeting the com­ munist threat remained British responsibilities. However, America did have an interest; prewar Malaya had been the world's largest producer of natural rubber, a material needed by both consumer and defense industries. In 1942, with the closure of Southeast Asia by the Japanese, ninety per cent of the world's rubber-producing capacity had been cut off; more than half of that capacity lay within Malaya. Under the pressures of war, the United States Government built a giant synthetic rubber industry where none had pre­ viously existed, an industrial miracle often described as second only to the atom bomb. By 1945, America was produc­ ing rubber at a rate equal to the total prewar world capac­ ity. The implications for the future were obvious. The American rubber products manufacturing industry would have a national source of supply independent of all foreign areas and the American military would never again be threatened by the precipitous loss of a strategic material. On the other hand, British Malaya ,was economically dependent upon the world's rubber markets and America had historically constituted half of that market; therefore, the post-war recovery of Malaya, the progress toward self-government and, after 1948, the survival of Malaya in the rising tide of Asian communism would all depend to a large degree upon her ability to produce and market rubber. V The purpose of this study is twofold: (.1) to examine the American view of British Malaya at the end of World War II; and (2) to recount the post-war Malayan expe­ rience and search for the tracks of America's interest and influence. Evidence emerges that there were two American perceptions of Malaya. The first recognized Malaya as the largest producer of natural rubber* In this context, Malaya was at once the source of a critical commodity and a poten­ tial threat to an infant, strategic industry. The second perception hazily distinguished Malaya in the regional con­ text of Southeast Asia, an area beset with confused efforts to maintain the colonial systems, and communist efforts to subvert both the colonial systems and progress toward non­ communist systems of self-government. A question persists among students of America's Post-World War II foreign affairs: did the United States have a Far Eastern policy? Writing at the close of the Korean War, Edwin 0. Reischauer put the question in the form of challenge in his work, Wanted: An Asian Policy.^ ■ 1 Writing some twelve years later in the midst of deepening 2Edwin 0. Reischauer, Wanted: An Asian Policy (New York: Alfred A. Knopf, 1955), pp. 181, 257. For example: Dr. Reischauer takes issue with both the absence of clear policy, and the bankruptcy of policy in evidence; e.g., the reluctance of the United States to take the lead in solving colonial problems as a matter of policy and the reluctance to provide economic aid versus military aid to Asian nations. vi American entanglement in Vietnam, Richard S. Kirkendall observed that although American post-World War II policy in Europe was clear, "... a similar clarity was not to be found regarding American interests in the Far East."J As a contribution toward an understanding of the condition, this study claims value. The selection of the end-date of the period under study requires some explanation. The year 1953 was chosen for reasons to be found in events, both in Malaya and the United States. By 1953, the British and Malayan forces under British leadership had turned the corner in the mili­ tary struggle to contain communist insurgency. Though the threat remained for years to come, the heat had gone out of what was termed with typical British reserve, "the Emer­ gency." In America, 1953 saw the end of the administration of President Harry S.
Recommended publications
  • 17Th Annual Report of the Bank for International Settlements
    BANK FOR INTERNATIONAL SETTLEMENTS SEVENTEENTH ANNUAL REPORT 1st APRIL 1946—31st MARCH 1947 BASLE 16th June 1947 TABLE OF CONTENTS Page I. Introductory Remarks 5 II. Transition from War to Peace Economy 9 Budget situation (p. 9), resources for productive investments (p. 9), subsidies (p. 10), nationalisations (p. 11), financial accounts (p. 11), foreign credits and foreign aid (p. 13)., em- ployment policy (p. 14), shortage of consumption goods (p. 15), wage increases (p. 15), price control (p. 16), wheat situation (p. I"]), meat, fat etc. (p. 18), industrial production (p. 20 ), coal , situation (p. 22), over-employment (p. 25) . III. Price Movements 28 Types of movement (p. 28), prices in Greece (p. 28), Hungary (p. 28), Roumania (p. 29), China (p. 29), Poland (p. 30), Italy (p. 30), France (p. 31), Finland (p. 32), Bulgaria (p. 32), Belgium (p. 32), Czechoslovakia (p. 32), Holland (p. 32), Turkey (p. 32), United States (p. 33), Great Britain (p. 35), Germany (p. 36), Austria (p. 37), wartime shortages (p. 38), general observations (p. 39) IV. Recovery of Foreign Trade .................. 41 Volume of world trade (p. 41), foreign trade in the United States (p. 42), in Canada (p. 45), Great Britain (p. 46), Denmark (p. 49), Norway (p. 49), Sweden (p. 5°), Finland (p. 50), Belgium (p. 51), Holland (p. 51), Switzerland (p. 52), Portugal (p. 52), France (p. 52), Italy (p. 54), Germany (p. 55), Poland (p. 5&), Czechoslovakia (p. 57), Austria (p. 58), Hungary (p. 58), Roumania (p. 59), Yugoslavia (p. 59), Bulgaria (p. 59), Greecç (p. 59); Turkey (p. 60), U.S.S.R.
    [Show full text]
  • Educational Patterns in Colonial Malaya Author(S): Charles Hirschman Source: Comparative Education Review, Vol
    Educational Patterns in Colonial Malaya Author(s): Charles Hirschman Source: Comparative Education Review, Vol. 16, No. 3 (Oct., 1972), pp. 486-502 Published by: The University of Chicago Press on behalf of the Comparative and International Education Society Stable URL: http://www.jstor.org/stable/1186779 Accessed: 03-04-2016 19:55 UTC Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at http://about.jstor.org/terms JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact [email protected]. The University of Chicago Press, Comparative and International Education Society are collaborating with JSTOR to digitize, preserve and extend access to Comparative Education Review This content downloaded from 128.95.104.109 on Sun, 03 Apr 2016 19:55:58 UTC All use subject to http://about.jstor.org/terms EDUCATIONAL PATTERNS IN COLONIAL MALAYA* CHARLES HIRSCHMAN BACKGROUND MOST "THIRD WORLD" NATIONS share a common past and a similar orientation to the future. Direct rule by the colonial powers of the West has given way to in- dependence only in the last decade or two. Independence has usually been ac- companied by a new emphasis on economic and social development to enhance the welfare of the people. However, the heritage of the past often constrains the future. The influence of the colonial experience upon a nation's economic, po- litical and social institutions continues long after formal independence, often to the detriment of the nation's professed social and economic objectives.
    [Show full text]
  • South-West Pacific)
    WORLD METEOROLOGICAL ORGANIZATION REGIONAL ASSOCIATION V (SOUTH-WEST PACIFIC) ABRIDGED FINAL REPORT OF THE SECOND SESSION Manila, 7th -18th April 1958 PRICE: Sw. fro 5.- 1 WMO ~ No. 78. RP. 31 I Secretariat of the World Meteorological Organization • Geneva • Switzerland 1958 WORLD METEOROLOGICAL ORGANIZATION Supplement to WMO Publication N° 78.RP.31 Decisions of the Executive Committee on the Abridged Final Report of the Second Session of Regional Association V. This document is a supplement to WMO Publication N° 78.RP.31 Abridged Final Report of the Second Session of Regional Associ­ ation V and should be considered as a guide to the status of the decisions adopted at that session. * * * - 2 - Resolution 30 (EC-X) REPORT OF THE SECOND SESSION OF REGIONAL ASSOCIATION V THE EXECUTIVE COMMITTEE, HAVING CONSIDERED the report of the second session of Regional Association V; DECIDES, (1) To note the report; (2) To note without comment the resolutions adopted during the session; (3) To take action as follows on the recommendations .• Recommendation 3 Refers this recommendation to the president of the Commission for Maritime Meteorology for urgent consideration of the Regional Association V conclusion that 3 No change be made in the existing plan for the collection areas ·for ship's observations, as applicable to Region V, with the exception that the western boundary of the area allocated to Malaya be extended to Longitude 90 oE. ~e!e~r£l~g~c~l_r~q~iEe~e~ts in_r~g~r~ !o_r~u!i~e ~iE EeRoEt~n~ Adopts the recommendation and instructs the Secretary-General to take the necessary steps with the International Civil Aviation Organization and to transmit the recommendation to the presidents of other regional associations for information.
    [Show full text]
  • British Strategic Interests in the Straits of Malacca, 1786-1819
    BRITISH STRATEGIC INTERESTS IN THE STRAITS OF MALACCA 1786-1819 Samuel Wee Tien Wang B.A., Simon Fraser University, 1991 THESIS SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF ARTS in the Department of History O Samuel Wee Tien Wang 1992 SIMON FRASER UNIVERSITY December 1992 All rights reserved. This work may not be reproduced in whole or in part, by photocopy or other means, without permission of the author. APPROVAL NAME: Samuel Wee DEGREE: TITLE OF THESIS: British Strategic Interests in the Straits of Malacca, 1786-1819 EXAMINING COMMITTEE: CHAIR: J. I. Little ~dhardIngram, Professor Ian Dyck, Associate ~hfessor Chdrles Fedorak - (Examiner) DATE: 15 December 1992 PARTIAL COPYRIGHT LICENSE 1 hereby grant to Simon Fraser University the right to lend my thesis, project or extended essay (the title of which is shown below) to users of the Simon Fraser University Library, and to make partial or single copies only for such users or in response to a request from the library of any other university, or other educational institution, on its own behalf or for one of its users. I further agree that permission for multiple copying of this work for scholarly purposes may be granted by me or the Dean of Graduate Studies. It is understood that copying or publication of this work for financial gain shall not be allowed without my written permission. Title of Thesis/Project/Extended Essay British Strategic Interests in the Straits of Malacca Author: (signature) Samuel Wee (name) (date) ABSTRACT It has almost become a common-place assumption that the 1819 founding of Singapore at the southern tip of the strategically located Straits of Malacca represented for the English East India Company a desire to strengthen trade with China; that it was part of an optimistic and confident swing to the east which had as its goal, the lucrative tea trade.
    [Show full text]
  • CURRENCY BOARD FINANCIAL STATEMENTS Currency Board Working Paper
    SAE./No.22/December 2014 Studies in Applied Economics CURRENCY BOARD FINANCIAL STATEMENTS Currency Board Working Paper Nicholas Krus and Kurt Schuler Johns Hopkins Institute for Applied Economics, Global Health, and Study of Business Enterprise & Center for Financial Stability Currency Board Financial Statements First version, December 2014 By Nicholas Krus and Kurt Schuler Paper and accompanying spreadsheets copyright 2014 by Nicholas Krus and Kurt Schuler. All rights reserved. Spreadsheets previously issued by other researchers are used by permission. About the series The Studies in Applied Economics of the Institute for Applied Economics, Global Health and the Study of Business Enterprise are under the general direction of Professor Steve H. Hanke, co-director of the Institute ([email protected]). This study is one in a series on currency boards for the Institute’s Currency Board Project. The series will fill gaps in the history, statistics, and scholarship of currency boards. This study is issued jointly with the Center for Financial Stability. The main summary data series will eventually be available in the Center’s Historical Financial Statistics data set. About the authors Nicholas Krus ([email protected]) is an Associate Analyst at Warner Music Group in New York. He has a bachelor’s degree in economics from The Johns Hopkins University in Baltimore, where he also worked as a research assistant at the Institute for Applied Economics and the Study of Business Enterprise and did most of his research for this paper. Kurt Schuler ([email protected]) is Senior Fellow in Financial History at the Center for Financial Stability in New York.
    [Show full text]
  • Piracy and Political Economy in Malaya, 1824- 1874
    ABSTRACT A COVERT WAR AT SEA: PIRACY AND POLITICAL ECONOMY IN MALAYA, 1824- 1874 Scott C. Abel, PhD Department of History Northern Illinois University, 2016 Eric A. Jones, Director Piracy around the Malay Peninsula during the 19th century was extraordinarily prevalent and resulted in the death and loss of liberty for an untold number of people. This dissertation examines the connections between the piracy of this era and the political economies of the Straits Settlements and the Malay states in the region. Malays pirates often had the support of local rulers who required the goods and slaves brought back by pirates to reinforce their own political and socio-economic positions. The piratical system supported by the rulers was a component of the overall Malay economic system known as kerajaan economics, which helped maintain the status quo for Malay states. This system came under threat once Great Britain and the Netherlands worked to suppress piracy in the region and helped persuade the Malay elite to phase out state-sanctioned piracy. Some people living in Malaya took advantage of the characteristics of British and Malay political economies to engage in acts of piracy regardless of the policies of the British and Malay governments. This study of piracy enables us to understand better the experiences of people of various backgrounds living in 19th-century Malaya, along with how piracy influenced their worldviews. NORTHERN ILLINOIS UNIVERSITY DE KALB, ILLINOIS DECEMBER 2016 A COVERT WAR AT SEA: PIRACY AND POLITICAL ECONOMY IN MALAYA, 1824-1874 BY SCOTT C. ABEL © 2016 Scott Abel A DISSERTATION SUBMITTED TO THE GRADUATE SCHOOL IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE DOCTOR OF PHILOSOPHY DEPARTMENT OF HISTORY Doctoral Director: Eric A.
    [Show full text]
  • Download Download
    Downloaded from the Humanities Digital Library http://www.humanities-digital-library.org Open Access books made available by the School of Advanced Study, University of London Press ***** Publication details: Administering the Empire, 1801-1968: A Guide to the Records of the Colonial Office in the National Archives of the UK by Mandy Banton http://humanities-digital-library.org/index.php/hdl/catalog/book/administering-the- empire-1801-1968 DOI: 10.14296/0920.9781912702787 ***** This edition published 2020 by UNIVERSITY OF LONDON PRESS SCHOOL OF ADVANCED STUDY INSTITUTE OF HISTORICAL RESEARCH Senate House, Malet Street, London WC1E 7HU, United Kingdom ISBN 978-1-912702-78-7 (PDF edition) This work is published under a Creative Commons Attribution-NonCommercial- NoDerivatives 4.0 International License. More information regarding CC licenses is available at https://creativecommons.org/licenses A Guide to the Records of the Colonial Office in The National Archives of the UK Archives National The Office in of the Colonial to the Records A Guide 1801–1968Administering the Empire, Administering the Empire, 1801-1968 is an indispensable introduction to British colonial rule during Administering the Empire, 1801–1968 the nineteenth and twentieth centuries. It provides an essential guide to the records of the British Colonial Office, and those of other departments responsible for colonial administration, which are A Guide to the Records of the Colonial Office in now held in The National Archives of the United Kingdom. The National Archives of the UK As a user-friendly archival guide, Administering the Empire explains the organisation of these records, the information they provide, and how best to explore them using contemporary finding aids.
    [Show full text]
  • A Survey of Singapore's Monetary Policy
    A Survey of Singapore's Monetary History Occasional Paper No. 18 January 2000 Economics Department Monetary Authority of Singapore A SURVEY OF SINGAPORE'S MONETARY HISTORY BY FINANCIAL & SPECIAL STUDIES DIVISION* ECONOMICS DEPARTMENT MONETARY AUTHORITY OF SINGAPORE JANUARY 2000 * THE VIEWS IN THIS PAPER ARE SOLELY THOSE OF THE STAFF OF THE FINANCIAL & SPECIAL STUDIES DIVISION, AND SHOULD NOT BE ATTRIBUTED TO THE MONETARY AUTHORITY OF SINGAPORE Ó THE MONETARY AUTHORITY OF SINGAPORE JEL CLASSIFICATION NUMBER: E42, E58, N10 A SURVEY OF SINGAPORE'S MONETARY HISTORY Page EXECUTIVE SUMMARY i-iii (I) BACKGROUND ON THE INTERNATIONAL FINANCIAL SYSTEM 1 1. GOLD STANDARD, 1870s-1914 1 2. INTER-WAR INSTABILITY, 1914-1945 4 3. BRETTON WOODS SYSTEM, 1947-1973 7 4. SUM-UP 11 (II) EVOLUTION OF SINGAPORE'S CURRENCY AND MONETARY ARRANGEMENTS 13 1. INTRODUCTION 13 2. THE SILVER STANDARD, TILL 1903 15 3. THE GOLD STANDARD, 1906-1914 17 4. CURRENCY SPLIT, 1967 19 5. MONETARY POLICY IN THE 1980s AND 1990s: A BRIEF REVIEW 28 6. SUM-UP AND CONCLUSIONS 31 Box Item 1 : The Inter-War Gold Standard and the Great Depression 5 Box Item 2 : Is Singapore Still Part of a Currency Board System? 24 Box Item 3 : Reporting of the Termination of the CIA 26 Figure I.1 : Exchange Rate Systems & Capital Flows – A Historical Context 11 Figure II.1 : Key Events in Singapore's Monetary History 13 Figure II.2 : Nominal Effective Exchange Rate of S$ 29 References 33 MAS Occasional Paper No. 18, Jan 2000 i EXECUTIVE SUMMARY 1 This paper provides an overview of the evolution of Singapore's currency and monetary policy arrangements, against the backdrop of the history of the international monetary system.
    [Show full text]
  • Statistics of Migrations, National Tables, British India, British Malaya
    This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: International Migrations, Volume I: Statistics Volume Author/Editor: Walter F. Willcox Volume Publisher: NBER Volume ISBN: 0-87014-013-2 Volume URL: http://www.nber.org/books/fere29-1 Publication Date: 1929 Chapter Title: Statistics of Migrations, National Tables, British India, British Malaya, Straits Settlements, Ceylon, Dutch East Indies, French Indo-China, Karikal, Philippines, Siam, China, Japan Chapter Author: Walter F. Willcox Chapter URL: http://www.nber.org/chapters/c5145 Chapter pages in book: (p. 898 - 939) 900 INTERNATIONAL MIGRATION STATISTICS BRITISH INDIA Regular stathtical accounts do not begin before 1842.Moreover, detailed emigration regulations were drawn up in order to protect those leaving the country, while the statistical definition of an emigrant varied with the legislation.(See Introduction page 140.)At the start, tables were headed "emigrants," later "coolies" (1871), then "indentured emi- grants" (1883).At certain periods, nevertheless, "free" emigrants, not subject to the existing State regulations, were included in the statistical statements. The figures are furnished by the Protectors of Emigrants who re- ceived them from the several Governments and Administrations. Tables I and IV (years 1842-1870) have been compiled by totalling separately the figures in the original source' for "men, women and chil- dren emigrating in each year from each of the three British ports, and collectively from the French ports, to each British and foreign colony to which emigration has been, at any time during that period, lawful". The figures for Calcutta cover a fiscal, and those for Bombay and Madras a calendar year.2 Between 1856 and 1924 the Statistical Abstract for British India pub- lished figures for emigration at the ports of embarkation.
    [Show full text]
  • Metadata on the Exchange Rate Statistics
    Metadata on the Exchange rate statistics Last updated 26 February 2021 Afghanistan Capital Kabul Central bank Da Afghanistan Bank Central bank's website http://www.centralbank.gov.af/ Currency Afghani ISO currency code AFN Subunits 100 puls Currency circulation Afghanistan Legacy currency Afghani Legacy currency's ISO currency AFA code Conversion rate 1,000 afghani (old) = 1 afghani (new); with effect from 7 October 2002 Currency history 7 October 2002: Introduction of the new afghani (AFN); conversion rate: 1,000 afghani (old) = 1 afghani (new) IMF membership Since 14 July 1955 Exchange rate arrangement 22 March 1963 - 1973: Pegged to the US dollar according to the IMF 1973 - 1981: Independently floating classification (as of end-April 1981 - 31 December 2001: Pegged to the US dollar 2019) 1 January 2002 - 29 April 2008: Managed floating with no predetermined path for the exchange rate 30 April 2008 - 5 September 2010: Floating (market-determined with more frequent modes of intervention) 6 September 2010 - 31 March 2011: Stabilised arrangement (exchange rate within a narrow band without any political obligation) 1 April 2011 - 4 April 2017: Floating (market-determined with more frequent modes of intervention) 5 April 2017 - 3 May 2018: Crawl-like arrangement (moving central rate with an annual minimum rate of change) Since 4 May 2018: Other managed arrangement Time series BBEX3.A.AFN.EUR.CA.AA.A04 BBEX3.A.AFN.EUR.CA.AB.A04 BBEX3.A.AFN.EUR.CA.AC.A04 BBEX3.A.AFN.USD.CA.AA.A04 BBEX3.A.AFN.USD.CA.AB.A04 BBEX3.A.AFN.USD.CA.AC.A04 BBEX3.M.AFN.EUR.CA.AA.A01
    [Show full text]
  • The Politics of Union and Citizenship: the Evolution Of
    THE POLITICS OF UNION AND CITIZENSHIP: THE EVOLUTION OF BRITISH CONSTITUTIONAL POLICY TOWARDS MALAYA AND SINGAPORE 1942 - 1948 A thesis submitted to The School of Oriental and African Studies in candidacy fo r the degree of Doctor of Philosophy Department o f History by ALBERT LAU KHOONG HWA May 1986 [ Ll ProQuest Number: 11010658 All rights reserved INFORMATION TO ALL USERS The quality of this reproduction is dependent upon the quality of the copy submitted. In the unlikely event that the author did not send a com plete manuscript and there are missing pages, these will be noted. Also, if material had to be removed, a note will indicate the deletion. uest ProQuest 11010658 Published by ProQuest LLC(2018). Copyright of the Dissertation is held by the Author. All rights reserved. This work is protected against unauthorized copying under Title 17, United States C ode Microform Edition © ProQuest LLC. ProQuest LLC. 789 East Eisenhower Parkway P.O. Box 1346 Ann Arbor, Ml 48106- 1346 2 ABSTRACT World War II, by unleashing new forces, had precipitated a reappraisal of B ritis h policy towards Malaya; i t also afforded B ritis h planners an opportunity to rationalise the pre-war structures which had kept Malaya constitutionally disunited and racially divided. Isolated in their offices in Whitehall, Colonial Office officials devised the Malayan Union p o licy, embracing in a "union" a ll the Malay States and including, from the Straits Settlements, Penang and Malacca but excluding Singapore, which developed as a separate constitutional entity although the possibility of a future "fusion" with the proposed Malayan Union was not discounted; the new arrangements envisaged also the creation of a form o f "common citizenship" that would confer political rights to Malaya's non-Malay population.
    [Show full text]
  • Issued by Japanese During Occupation
    Article: Malaya’s “Banana Money” Issued By Japanese During Occupation Banana money is an informal term given to a type of currency issued by Imperial Japan during the Japanese occupation of Singapore, Malaya, North Borneo and Sarawak and Brunei, and was named as such because of the motifs of banana trees on 10 dollar banknotes. It was in widespread use within the occupied territories where the previous currency became a scarcity. The currency were referred to as “dollars” and “cents” like its predecessors, the Straits dollar and Malayan dollar. Following the fall of Singapore into the hands of Imperial Japan on February 15, 1942, the Japanese introduced new currencies as a replacement of those previously in use in the occupied territories of Malaya, North Borneo, Sarawak and Brunei. The new currency in Malaya and Singapore were issued with the same value as the Malayan dollar, and first entered circulation in 1942. As with other currencies issued by Japan in occupied territories, local residents were forced to adopt this type of currency, while existing coins were allowed until a shortage of coins required the Japanese administration release issued notes for cents. Similar currencies were issued in Japanese- occupied Burma, Indonesia and the Philippines. To supply the authorities with money whenever they required it, they simply printed more notes. This resulted in high inflation and a severe depreciation in value of the banana note. Moreover, counterfeiting was rampant due to its lack of a serial number on many notes. Increasing inflation coupled with Allied disruption of Japan’s economy forced the Japanese administration to issue banknotes of larger denominations and increase the amount of money in circulation.
    [Show full text]