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WV(B)L-51-7406
Mi Kyne Pl.co have this
wich with
ony changes by 2P.M.
at latest.
Mr Adams
7
No Comments
4/8
BA
415.
SPEAKING NOTES in case the Chancellor of the
Duchy of Lancaster has to make a speech during
his visit to Hong Kong.
I am impressed, as any visitor must be,
by the phenomenal success story of the Hong
Kong economy. No need for me to tell you
about your own success. But it is difficult
not to express excitement and admiration about
such facts as the following. Last year your
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exports increased by 25% on the previous year.
You now export between 85% and 90% of your
total production. You are now, despite the
very modest size of your population, the world's
23rd biggest exporter.
2. I am not here to negotiate but to educate
myself about those problems which might affect
some sectors of your economy and also to discuss
with you the real opportunities which might be
afforded by a European Community which has been
enlarged to include Britain and the other
applicants.
Our share of Hong Kong exports
has been falling and now stands at about 11.6%.
On the other hand your exports to the Communities
have risen rapidly and are now almost as great
9.4%. A more dynamic Britain in the European
Communities might, in the long run, be a
better trading partner for you than she is now.
3. In any case Hong Kong's development has
always been characterised by realistic and
clear-sighted appraisal of prospects.
ifierente) fact that
I am
impressed by the extent of which, although
textiles are still your most important industry,
your plastic and electronic industries are
becoming increasingly important.
I am
confident that you will exploit to the full the