DAILY REVIEW OF BUSINESS TOPICS AS REPORTED IN THE CHINESE PRESS
Trade Industry & Customs Department HIKISH!! Thearsshareeld by the farmereseemkid bdba sasayDExprætervent
THE THREE-WAY DEAL FARCE
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Hong Kong Economic Journal (31/1)
In its editorial on the recent report of the three-way deal, the
Hong Kong Economic Journal attributed the speculation by AP and the
enthusiastic response of the local press to the following reasons:
(1) Most probably, this news was deliberately passed on to AP reporters
by the British authorities who were anxious to make the deal with China. The
British certainly could not explicate the political significance of such a
deal between the two countries to the Chinese delegates on the conference
table. So, it is very possible that this is a monologue of the British authorities transmitted through AP (tactically avoiding through Reuters) to "draw "China's attention" to the favourable effects of the deal or. China/Britain
political development.
(2) The Chinese Government surely understands this highly implicative
"news story". However, the basic principle of China's foreign trade policy
had to be complied with its political and economic interests. Judging from
past circumstances, China was obviously not in harmony with the pro-Russian
Labour Government. The Labour cabinet is currently being pressured to advance
the General Election. China is thus very unlikely to place ample orders
with Britain, which may raise the status of the Labour Party.
(3) As the press media tends to play up news welcome by the public, the ample coverage of this report which relates with Hong Kong's political future shows the people of Hong Kong are very satisified with the present stability and prosperity.
Issue Number: 5/78
Date: 31/1/78
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