operate
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prudent insurancesystem.
They recognise that they
may be directed by Ministers to override their commercial
scruples, but they must try to get as good security as
possible meanwhile.
4.
Obviously this must not be done bull-headed.
ECGD
would like some assurances from CLP and Esso/Exxon.
They agreed that they should not take action until Exxon
have undertaken to come in with CLP. After that there
will be very careful disussion here in which the DOI,
no less than us, will make sure that nothing is done
to scare the clients away to the Japanese or elsewhere.
5. So far as the Hong Kong Government are concerned,
we have explained why full guarantees are not possible.
ECGD appear to accept that. They still hanker after some
kind of assurance on the use of the scheme of control.
We have said that the nature of the scheme and the Hong
Kong Government's obligations to consumers, seem to
an absolute undertaking
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However, I think that it could well be
very helpful for someone speaking with authority for Hong
Kong, preferably yourself, would be prepared to talk
to ECGD, together with DOI, in order to bolster what we
have said about the prospects for Hong Kong, and to
explain the general intention to continue the
scheme of control If you agreed you might like to
consider doing this when you are here in November.
6.
Guangdong Nuclear
ECGD are not at present pressing the question of Guangdong
(2(d) of Hong Kong Tel 1932). We will watch this, if
necessary taking theline that this and the 'B' Station
must be treated as separate questions (on both of which
Ministers have expressed strong support); and that there
should at least be enough demand to justify both contracts.
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