CODE 18 - 77
Reference........................
by comparing Tran's offer made out in Hong Kong with "1978 projected limits" which were nothing more than a straight extension of the former agreement (2.5% growth for clothes and 7% growth for textiles). Clearly such an extension was seen as their birth right. A proper comparison would have been with where they are in 1977 (or, failing that, where they were in 1976) rather than with where they think they ought to be in 1978.
18 November 1977
Cc:
Mr A Smith Mr J Thompson
Mark Hall
Mark Hull
Economists Department
CONFIDENTIAL