Reserve Bank of India. Report on Currency and Finance for the year 1949-50

In the Far East the year saw the final victory of the Communist armies in China and the declaration of the independence of Indonesia. [...] Trade between the 'blocs' was below the levels provided for in the trade agreements of 1949; the figures entered in the agreements for 1950 are at a lower level than in the agreements of the preceding year which probably indicates the meagre chances of improvement in this direction in the near future. [...] The attempt to limit invesment to the volume of savings was the keynote of the cautious economic policy in Belgium in the years following the end of the war. [...] In April the Bank of England at the instance of the Chancellor of the Exchequer requested the banks to curtail the grant of credits with a view to restrict new investment. [...] In the case of the United Kingdom the rise in the figure of the public debt during 1949-50 notwithstanding an overall budget surplus of L62 million was owing to the devaluation of sterling which necessitated revaluation of the dollar debt.