CONFIDENTI AL
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A CHARGE ON THE ENLARGED COMMUNITY. ON THE OTHER HAND, IF HONG KONG WERE INCLUDED IN THE GENERALISED PREFERENCE SCHEME BY THE COMMUNITY (SUBJECT, IF NECESSARY, TO A PROVISO THAT SHE SHOULD ALSO BE INCLUDED BY THE UNITED STATES), THE LIKELIHOOD THAT SHE
WOULD BE INCLUDED BY THE UNITED STATES WOULD BE GREATLY ENHANCED
AND, SINCE 42 PER CENT OF HONG KONG'S EXPORTS CURRENTLY
GO TO THE UNITED STATES, THE BURDEN ON THE COMMUNITY WOULD BE SUBSTANTIALLY DIMINISHED.
3. FINALLY, WE DO NOT SEE ANY INCOMPATIBILITY BETWEEN THE PRESSURE WE ARE EXERTING IN THE CONFERENCE FOR EARLY AND FAVOURABLE
CONSIDERATION BY THE COMMUNITY OF THE INCLUSION OF HONG KONG IN
THE GENERALISED PREFERENCE SCHEME WITH HONG KONG'S ANXIETY
THAT THE COMMON COMMERCIAL POLICY SHOULD NOT BE FIRMED UP IN A MANNER DETRIMENTAL TO HER. IF WE ARE SUCCESSFUL IN GETTING HONG KONG INCLUDED IN THE GENERALISED PREFERENCE SCHEME, WE WILL HAVE SECURED ONE OF HONG KONG'S IMPORTANT AIMS. IF WE ARE UNSUCCESSFUL, THE COMMUNITY MIGHT BE THAT MUCH LESS LIKELY TO ADMINISTER YET
ANOTHER REBUFF BY INCREASING THE ILLIBERALITY OF THEIR COMMERCIAL
POLICY TOWARDS HONG KONG.
SIR J MARJORIBANKS
EUROPEAN ECONOMIC AND
ADDITIONAL DISTRIBUTION:
FRAME
POLITICAL DISTRIBUTION:
3.I.D. H.K.D.
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CONFIDENTIAL