Word: hong
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Dates: during 1960-1969
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...process; thousands were specifically labeled "monsters" and "demons" by the Red Guards, and barely a hundred have since been cleared. Without supervision, classrooms are often split into feuding student factions. "No one is in charge; no one dares to be," wrote one Shanghai student recently to a friend in Hong Kong. To fill the vacuum, army officers have been called in to give military instruction and keep a semblance of order...
...Hong Kong was assailed last week by Peking's promises of more trouble to come: "Let the British imperialists tremble before the Chinese people." The British made more raids on leftist unions and arrested more than 600 people in an effort to prevent a recurrence of the Maoist rioting that has shaken the crown colony off and on for more than two months. Police, aided by British troops, found caches of arms, Molotov cocktails and bottles of acid...
...Malacca Strait has long enabled Britain to police Far Eastern sea-lanes. (Singapore has neither the ships nor the money to use the base itself, and made it clear that the U.S. Navy would not be welcome.) Britain still plans to keep a 9,000-man garrison in beleaguered Hong Kong...
Water Shortage. The colony's British rulers, who throughout the crisis have maintained a stiff upper lip, decided to crack down. Said Acting British Colonial Secretary D. R. Holmes: "The time has come to grasp and retain the initiative in this contest." Hong Kong's superbly disciplined police got permission to unlimber their shotguns. The Communist mobs retreated under volleys of pellets, and police collared 245 hard-core rioters. While British troops in full battle dress stood guard, Hong Kong police stormed into the previously inviolate Communist union headquarters and schools, carted off barrels of riot weapons-steel...
Called the International Commercial Bank, the new institution was formed by London's Westminster Bank, Manhattan's Irving Trust Co., Chicago's First National Bank, the Hong Kong and Shanghai Banking Corp., and Düsseldorf's Commerzbank. As an offspring of the rich (the five banks control resources totaling $18.8 billion), I.C.B. will start life with $8,800,000 capital plus another $16.4 million in loans from its parents. For deposits, it counts on tapping the volatile pool of Eurodollars -U.S. funds held in European hands -which has swelled from nothing to close...