CONFIDENTIAL #5
2.5
7
Mr. Tran's proposals included a proposition
that the annual growth rate on an overall basis would
be 6%, implying that the cut-backs and low growth rates
for the 7 very sensitive items would be compensated for
by growth rates higher than 6% in other items to be
placed under restraint. But this is in practice not a
viable proposition. His proposals provided for only
0.25% to 2% for the 7 very sensitive items which together
accounted for 5% of the value of Hong Kong's exports of
textiles and clothing to the EEC in 1976; 3% to 4%
growth for a group of items accounting for 22%, 6% growth
for another group of items accounting for 10% of the trade
in 1976; and up to 20% growth for yet another group
accounting for roughly 8% of that trade. From the se
figures it appears arithmetically impossible to achieve
an overall growth rate of 6%.
2.6
Even more to the point, some of these other
items are not at present subject to restraint and it is
a false argument to say that cut-backs and lower growth
rates in items which Hong Kong can sell could be
compensated for by higher growth rates in items at
present unrestrained or in which exports are currently
far less significant and likely to remain so.
لجميع
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