Hong Kong
He returned to Hong Kong in 1945 and continued to rise through the ranks. He was asked to find ways in which the government could boost post-war economic outlook, but he found the economy was recovering swiftly without any government intervention. He took the lesson to heart, and positive non-interventionism became the focus of his economic policy as Financial Secretary. He refused to collect economic statistics for fear it would encourage officials to meddle in the economy.
In 1960 Cowperthwaite was appointed as an Officer of the Order of the British Empire (O.B.E.) and in 1964 was appointed as a Companion of the Order of St Michael and St George (C.M.G). In 1968 Cowperthwaite was appointed as a Knight Commander in the Civil Division of the Order of the British Empire (K.B.E.). He was highly praised by Nobel laureate Milton Friedman just before his death.
Commentators have credited his management of the Hong Kong economy as a leading example of how small government encourages growth.
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