After three frustrated years under the Communists, British businesses in Red China last week decided to throw in the towel. In London the powerful China Association announced that its members would sever trade ties and abandon all their assets in Red China—holdings worth more than $840 million. Most of the 700 British nationals in China—all that is left of a British trade colony that numbered 10,000—will probably ask the Communist government for exit visas. The firms will try to sell their assets to Chinese Communist agencies, but the Foreign Office fears that it will prove to be a dismal...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!