Story: Asian conflicts

The wool boom, 1950

The wool boom, 1950

This cartoon, published in the New Zealand Herald in November 1950, alludes to the wool boom that resulted from the Korean War. The war caused shortages of many of the products New Zealand imported. However, in 1950 New Zealand was the world's third-largest wool producer, and the economy boomed as the United States' demand for wool soared. The US was stockpiling the wool in case the Korean War escalated. From February to July 1951, New Zealand's waterfront industrial dispute slowed sales, but overall it was a prosperous time for farmers.

Cartoon courtesy of New Zealand Herald

Using this item

Oxford University Press
Reference: Ian McGibbon, New Zealand and the Korean War. Wellington: Oxford University Press, 1992-1996, p. 135.
Cartoon by Gordon Edward George Minhinnick

This item has been provided for private study purposes (such as school projects, family and local history research) and any published reproduction (print or electronic) may infringe copyright law. It is the responsibility of the user of any material to obtain clearance from the copyright holder.

All images & media in this story

How to cite this page:

Ian McGibbon, 'Asian conflicts - Kayforce', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/en/cartoon/34529/the-wool-boom-1950 (accessed 11 December 2018)

Story by Ian McGibbon, published 20 Jun 2012, updated 27 Feb 2016