NOTHING TO BE WRITTEN IN THIS MARGIN
CONFIDENTIAL
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Несылок
to offer each other in trade and culture.
BG
Good relations between us must be to the benefit
of all
13.
Take
in your leffe
And now a word about trade. It was a great
relief to me that it was possible to achieve so
quickly the realignment of parities of the major
international currencies. With every week that the confusion of exchange rates continued the blight
of protection seemed to threaten more closely inted the munterule of the present level. the continued expansion of world trade. It has been
on this expansion that Hong Kong's success has been
built, as well as on the skill and enterprise of its
people. But now the American surcharge is removed
and the future is brighter.
14.
has
Hong Kong, of course, still has to/face
rade Carriers ageist some of weselnets.
degree of protection lits major markets for
some of its products. You are practigal and realistic
people and you know that this is the price of your
own phenomenal success, and that particularly in the
case of some textiles there must be a limit in some
markets to what is politically folerable.
This is precisely why we in the British Government
were recently obliged to modify our stand at
regrettably short notice about entry of cotton
textiles to Britain. Our predecessors in office
had decided that quotas/on cotton textiles should
be abolished and that /our industry should be
protected, in so far/as protection was desirable and necessary, solely by a tariff barrier. We inherited that decision, and confirmed it, hoping
/that