THE DECLINE OF ECONOMIC COMPLEMENTARITY - AUSTRALIA AND THE STERLING AREA

This article examines two important phases in Anglo-Australian economi c relations in the sterling area between 1947 and 1958: first, the per iod of the Chifley Labor government, where relations were generally of a cooperative character; second, the Menzies government, which ironic ally presided over the deterioration of sterling area relations. Using records of the British Treasury, Overseas Finance Division, this arti cle fills an important gap in providing the international context agai nst which much of post-war economic policy was formulated in Australia .