Development of economic relations between Great Britain and the Union of South Africa in late 1940s and early 1960s of the 20th century

Introduction. The article analyzes a retrospective of the economic relations between Great Britain the Union of South Africa (since 1961 the Republic of South Africa) taking into account their socio-economic and politic development. The historical preconditions for the formation of political and socio-demographic conditions affecting the nature and direction of economic relations between the countries were investigated. The article shows the strength of the position of Britain in the South African Union. It was largely determined by the presence of large British-born white settler communities, which had a significant impact on economic, investment and financial policies of the country. The author comes to the conclusion about the status of the South Africa as one of the largest «global storage» of mineral and strategic raw materials. The presence and specificity of elements of the resource potential of the Union of South Africa, that are most significant for investments of British capital, have been revealed. The mutual interest of the United Kingdom (strengthening the position of the British capital) and South Africa (growth of the volumes and concentration of investments primarily in the mining and gold mining industry) in the development of economic relationshas been substantiated.

Materials and Methods. The main sources of the article were materials from economic reviews, statistical reference books and analytical information about activities of British companies investing in the economy of the South Africa. The article uses general scientific methods – analysis, comparison, and special methods – problem-chronological and historical-comparative.

Analysis. The article assesses the main directions, absolute volumes and profitability of British investments in the South African economy using the example of large corporations. The downward trend in the positions of the United Kingdom was tracked as the penetration of US capital into the economy of the Union of South Africa intensified. Result. In the 1950s and 1960s, despite the penetration of American capital into South Africa, the British economic orientation of the Union of South Africa dominated.

1. Aaronovich S. British monopolistic capital. Translated from the English by VM Kollontai. Moscow: Publishi ng House of foreign Literature; 1956. 210 p. (In Russ.).

2. Arkhangelskaya AA. International politics of Oliver Tambo: unique features of the foreign policy process of South Afr ica and the personal factor. Vestnik Rossijskogo universiteta druzhby narodov. 2019;2:293-301. (In Russ.).

3. Asia and Africa. Statistical collection. Moscow: Publishing house of Science; 1964. 705 p. (In Russ.).

4. Africa in numbers. Statistical directory. Under general ed. NG Kovaleva. Moscow: Publishing house of socioeconomic literature; 1963. 567 p. (In Russ.).

5. Babintseva NS. Economic essays on modern Africa. Moscow: Science; 1970. 200 p. (In Russ.).

6. Bely PF. Balance of payments in England. Theories and reality. Leningrad: Leningrad University Publishing House; 1976. 105 p. (In Russ.).

7. Great Britain. Economic review. Moscow: CITEIN; 1960. 660 p. (In Russ.).

8. Vinzer YuI. English investments abroad during the period of imperialism. Edited by AI Mileikovsky; Moscow: Publishing house International Relations; 1960. 791 p. (In Russ.).

9. Vladimirov K. Bank of England. Moscow: Publishing house International Relations; 1959. 92 p. (In Russ.).

10. Dobrov AS. Great Britain. Moscow: State-Publishing House of Geographical Literature; 1955. 435 p. (In Russ.).

11. Lemin IM. Aggravation of the crisis of the British Empire after the Second World War. Moscow: Publishing House of the Academy of Sciences of the USSR; 1951. 567 p. (In Russ.).

12. Mironov VV. Charles Manning and the English School of International Relations. Vestnik Omskogo universiteta, 2014;4(74):122-126. (In Russ.).

13. Ovinnikov RS. The masters of English politics. The financial oligarchy and the foreign policy of England after Suez, 1957-1966. Moscow: Mejdunarodnye otnoshenia; 1966. 432 p. (In Russ.).

14. Pokrovsky AS. Monopolistic capital in the countries of South Africa. Moscow: Nauka; 1976. 179 p. (In Russ.).

15. England's policy in Africa. Ed. by GL Bondarevsky. Moscow: Nauka; 1967. 261 p. (In Russ.).

16. Khesin ES. England in the economy of modern capitalism. Moscow: Nauka; 1979. 368 p. (In Russ.).

17. Board of Trade Journal. 15 Nov. 1963. Р. 1080.

18. Board of Trade Journal. 26 Jan. 1968. Р. 17.

19. Conan AR. Capital Imports into Sterling Countries, London: Macmillan; 1960. 155 р.

20. Legum C. and M., South Africa Crisis for the West, N. V.: Praeger; 1964. 260 р.

21. Rippy Fred. British Investment in Latin America. 1822-1949. Minneapolis: University of Minnesota Press; 1959. 249 р.

22. The Scope for Investment in South Africa. Johannesburg: Union Acceptances Limited; 1969. 101 р.

23. The South African Financial Year-Book 1958. Cape Town: Culemborg Publishers; 1958. 452 р.