CONFIDENTIAL
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...
might
the United Kingdom's bargaining position, on which maintaining the inter-
national rights of British airlines (including Hong Kong's) depends.
It'
!
bring adverse reactions to the dilution of value of their
existing rights, from such countries as Italy, Germany, France, Switzerland
or Australia whose airlines already serve Hong Kong, Hong Kong participates
in United Kingdom negotiations on scheduled service rights involving the colony,
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for which other 'States can hold HMG responsible internationally as United
212-
Kingdom territory under the Chicago Convention. Control there of charter
flights is in Hong Kong's own hands.
Apart from traffic rights, all States
party to the relevant multilateral
inata T
otter aistines, pracefully
A Howen, KLM and CAS
1
who are at permal"
Taffic, excinded from Fattic right; at ttk
Ave most desprous to ac
are
wHk them and
shongly sufferted in ther by the Hong Kong erunt who consider that these hire major esticus Thould be permitted to operate to Hong Kong for the benefit of the lotory's Communication and anfort sarnings.
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Hong Kong has not, found difficulty in raising capital fur investment
.3.
not been short of foreign exchange.
1
and has
Diversification has not been limited by
lack of capital, but by her lack of natural resources and her social structure.
But if she invests in new industries, she will still require an outlet for
their products. The pre-requisite for continued investment in Hong Kong's
industry is primarily confidence in the stability of the colony (and it is
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CONFIDENTIAL
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