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This film is a 1975 Taiwanese / Hong Kong martial arts film starring Jimmy Wang Yu, who also wrote and directed the film. It is a sequel to Yu's 1971 film One Armed Boxer, and thus the film is also known as One-Armed Boxer 2 and The One Armed Boxer Vs. the Flying Guillotine.

The film concerns Yu's one-armed martial arts master being stalked by an Imperial assassin named Fung Sheng Wu Chi, the master of two fighters (the Tibetan Lamas) who were killed in the previous film. When the One-Armed Boxer is invited to attend a martial arts tournament, his efforts to lay low are unsuccessful when the assassin soon tracks him down with the help of his three subordinates competing in the tournament: a Thai boxer named Nai Men, an Indian named Yoga Tro La Seng, and a Japanese kobujutsu user nicknamed "'Wins-without-a-knife' Yakuma."

The title refers to the assassin's unique weapon, the so-called "Flying Guillotine" which resembles a hat with a bladed rim attached to a long chain. Upon enveloping one's head, the blades cleanly decapitate the unlucky victim with a quick pull of the chain.

Master of the Flying Guillotine is considered a classic martial arts movie and has influenced many films of the genre that followed, like Bloodsport. The Tournament Arc trope may have its roots in this movie.

It was paid homage in Quentin Tarantino's film Kill Bill, which briefly used the film's droning theme music, an excerpt of the song "Super 16" by Neu!, during the House of Blue Leaves sequence.

The Street Fighter character Dhalsim's abilities also resemble those of Yoga Tro La Seng from the film, with both characters using a yoga-based fighting style and having an unnatural ability to extend their limbs to attack. The Indian is played by a Chinese man in blackface. It's pretty surreal in the dub version see this man talking with a faux Indian accent.

Master of the Flying Guillotine provides examples of:

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