America again, where most frequent passenger operations were curtailed in the 1960s. There were many cases of singling of former multitrack routes after that whilst railroads continued to carry just as much if not more tonnage than they did before. Equally many rural routes had only carried very infrequent passenger traffic anyway even in their heyday. Without the pressures of those pesky public passenger schedules, railroads gained much more flexibility to run their remaining freight traffic when it was convenient for them. The traditional hub and spoke networks typically had long connecting windows between trains and customer expectations of many days in transit, so precise arrival times in yards were much less critical than any passenger operation. Sparse infrastructure and long waits in country sidings are common in much of the US. The long stretches of single track, albeit sometimes with impressive dynamic loops in places are probably the main challenge to on-time performance for most of Amtrack's long distance trains. If you miss your slot you may have to wait for an opposite direction freight to clear a 20-mile section. Half an hour delay if you're lucky; much more perhaps if it's hilly. Traffic growth and a generally tighter more logistical approach to freight shipments has put pressure on railroads to operate more precisely and additional capacity to help with that has been installed where possible, sometime redoubling former multi-tracks, sometimes adding entirely new sections. Sometimes innovative operating ideas have been adopted such as tidal flows. These are often more feasible with freight where you could run in one direction for so many hours then switch to the other direction for another long period. That approach is rarely possible with passenger operations, unless the passenger trains are particularly infrequent. Elsewhere alternative parallel single lines have been dedicated one to each direction. Opposing traffic can still run on each route if necessary but it's given lower priority leading to long waits in loops. Competing railroads have even been known to use running powers to cooperate in sharing parallel routes in this way leading to greater capacity and improved transit time for them both.
Early American CTC is the ancestor and prototype for all modern signalling ever since all over the World, and note that in the 1930s and 1940s US railroads installed it over many thousands of miles of multiple track main line years before the postwar passenger cutbacks and simplifications. Once the railroads demonstrated the system's possibilities, all nations started to adopt the centralised control ideas very quickly, UK included, but mostly for our multitrack main lines where reduction of the number of running lines was not possible widely, but facilities at junctions and stations were reduced based on the greater throughput efficiency claimed for modern signalling. Many modern single lead junctions attest to that. The UK has always been slow, comparatively, to roll out centralised control on rural and secondary routes however, often finding it difficult to justify the capital expense. The Salisbury to Exeter single line (west of Tisbury) with it's dynamic and other loops is now finally (since 2012) controlled from Basingstoke ASC (Area Signalling Centre) instead of a number of local signal boxes. The lack of centralised control has not prevented the route performing well as a largely single track long distance corridor since simplification the late 1960s (it was formerly double track all the way). Since 2009 the line has hosted an hourly clockface timetable all the way to Exeter, but there's no doubt the simplicity of the operation, with an hourly repeating timetable and no other regular traffic with different stopping patterns or journey times makes this possible.
Wherever they are in the World and however centralised their control, railways tend to evolve to the best form layout and number of tracks needed to handle the types and mix of traffic the railway or other governing agency decides it will operate economically. In UK, I doubt there are many remaining places further reductions of existing double tracks would be possible today in a time of traffic growth and increasing concern over performance. That's not to say some short stretches couldn't be justified where they offer some other important benefit such as junction or station simplification, speed increases in tightly constrained topographies or to overcome some structural or clearance concern in some otherwise very expensive to rebuild asset. On the Scottish Borders Railway I think a view has been taken to include only as much double track as absolutely necessary for the comparatively self-contained initial service. Whilst more might be nice, it simply can't be justified, so that is a very good example of the UK using your approach to minimise costs by eliminating surplus (new) double track whilst still being able to offer a modern fast service performance with passenger trains passing at speed in fairly long dynamic loops. Whilst the service concept remains as it is the infrastructure configuration is perfectly adequate.