In the particular case of the Hong Kong scheme, the Americans and Japanese are parties to the exchanges of information which have already taken place, and which seem to contain the credit competition tolerably well. All that seems to be required now is for all those who are involve to give each other adequate notice of any prospective change in thoir already declared position. It is also open to any of the parties at any time to initiate a more elaborate common stand if they so wish. Our cu inclination is to let things lie for the moment on this particular caso. However we are checking to see whether there are any other large and 'potentially sensitive cases where we for our part would welcome ruther closer consultation than has so far taken place. In this connection I gather there are a few cases where we have recently been embarrassed by a rather late discovery of extraordinary terms being offered notably by the Americans. I hope to be in touch with you again about this.
Yours sunduly
facks
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as
par Copies to: Mr M A Cowây
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Mr P M Newton
Mr R G Marlow Mr E G Lowton
UKTSD, Washington
British Embassy, Tokyo
FCO ... ECGD