GRS 558
HKK
RESIVITED
FBTC
026
AUG 1980
218
in
PA 38
Hotlist. There is - Ject as yet uns draft speech.
Creeda 133 merely contained a draft outline.
I have asked for
HONG KONGC1357 AUG 60
TO PRIORITY DO Teken
EX
5
TELEGRAM (NUMBER CREDA 170 OF 1 AUG
FOR MRS GINGELL CRE4
YOUR CREDA( 133
MR PARKINSON'S SPEECH
G
игру. Этлично
NO DISTRIBUTION
3.8
Top +1 DOT/ CRE
тор
Mr. William Jss. William.Jss.
Have we seen the
HEG
TRED
R129
dfr. speech? If not we ond
1 SHOULD BE GRATEFUL FOR CONFIRMATION THAT I MAY DISCUSS THE DRAFT WITH THE HONG KONG GOVERNMENT. ALTHOUGH YOUR TELEGRAM IS ADDRESSED TO HONG KONG (IE NOT BTC) IT IS IN THE CREDA SERIES WHICH THE HONG KONG GOVERNMENT DO NOT NORMALLY RECEIVE, MY OWN PRELIMINARY COMMENTS ARE AS FOLLOWS:
PARA 1, LAST SENTENCE: THE IMBALANCE IN BILATERAL TEXTILE TRADE OR INDEED IN OVERALL VISIBLE TRADE 13 NATURALLY NOT OF SUCH CONCERN TO HONG KONG AS TO THE UK DOMESTIC AUDIENCE. HONG KONG WOULD ARQUE AGAINST SEEKING TO BALANCE BILATERAL TRADE (ESPECIALLY WHEN THEY BELIEVE THAT OUR INVISIBLE EARNINGS MORE THAN BRIDGE THE GAP) AND THAT THE UK SHOULD CONCENTRATE ON MAXIMISING THE OPPORTUNITIES WHICH ARE AVAILABLE TO IT IN THIS OPEN MARKET.
I RECOMMEND THAT WE TRY TO MAKE THE POINT LESS DIRECTLY.
1
PARA 2, SECOND SENTENCE: I DO NOT THINK THAT HONG KONG FINDS
IT HARD TO UNDERSTAND' PRESENT WORLD RESTRAINTS RELUCTANTLY
IT UNDERSTANDS THEM ONLY TOO WELL AND FINDS IT HARD TO ACCEPT THEM. THIRD SENTENCE: I SUGGEST YOU OMIT THE REFERENCE TO ''NEW' TRADING RESTRAINTS AS THIS WILL RAISE NEW FEARS.
}
@TH SENTENCE: I THINK THAT THE TERMS DEVELOPED VERSUS UNDEVELOPED ECONOMIES IN THE CONTEXT OF PROTECTIONISM ARE SETTER UNDERSTOOD HERE THAN TO SPEAK OF NORTH VERSUS SOUTH SENTENCE 10, 11 AND 12: THIS IS A GOOD FOINT, I SHOULD EXPECT HONG KONG TO ACCEPT THE NECESSITY FOR CONTINUING WITH SOME FORM OF MEA BEYOND 1982 (PROVIDED THAT IT WAS NOT EVEN MORE RESTRICTIVE) BECAUSE THEY RECOGNISE THAT COMPARED WITH OTHERS THEY HAVE THE ADVANTAGE OF GUARANTEED MARKETS IN EUROPE, I SUGGEST YOU AVOID USE OF THE ADJECTIVE **RICH'', **EXPANDING ECONOMY AND A STRONG INDUSTRY** WOULD BE BETTER TERMS.
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PARA 3: I MUST AGAIN QUESTION THE MEANING OF MAJOR POSSIBILITIES FOR JOINT DEVELOPMENTS IN TRADE WITH CHINA, MY CREDA 124 OF 13