ABSTRACT
This final chapter brings together some of the themes of earlier chapters and offers a brief sketch of subsequent events.
The story in this book ends when Hong Kong was on the brink of its second most serious post-war crisis. In 1966, China embarked on the disastrous Cultural Revolution. In May 1967, political riots and protests disrupted the reputation of Hong Kong as a capitalist paradise, and shocked the international community into remembering that the prospects for Hong Kong were intimately connected with those of China. The free dollar market rate soared, the stock market slumped, and capital fled the colony. Total bank deposits fell by about HK$1 billion between April and October 1967.
