RESTRICTED
5. MOST HNDEPENDENT PAPERS QUOTED SENIOR UNOFFICAL MEMBER SIP S Y CHUNG'S REMARKS YESTERDAY THAT AT LEAST 80 PER CENT OF LETTERS TO UMELCO ON THE FUTURE OF HONG KONG WERE IN SUPPORT OF THE RETENTION OF THE STATUS QUO. THE REPORTS INCLUDED HIS ASSERTION THAT QUOTE : FAIRLY ACCURATELY REFLECT THE PEOPLE'S VIEW UNQUOTE.
6. AN ARTICLE BY PHILIP BOWRING IN THE LATEST (27 OCTOBER) EDITHON OF THE FAR EASTERN ECONOMIC REWEW HIT OUT AT THE BANK OF CHINA'S LUKEWARM REACTION TO THE FINANCIAL SECRETARY'S ANNOUNCEMENT OF MEASURES TO STABILISE THE EXCHANGE RATE OF THE HONG KONG DOLLAR. BOWRING ARGUED THAT THE BANK OF CHINA WAS IN THE HANDS OF POLITICALLY MOTIVATED CADRES WHO FAILED TO UNDERSTAND THAT SO-CALLED SPECULATION AND THE FREE MARKET WERE INSEPARABLE. CLEARLY, HONG KONG COULD NOT EXAST IN ITS PRESENT FORM 4F SUCH PEOPLE HAD MUCH TO DO WITH THE RUNNING OF T.
HADDON-CAVE
FUTURE OF HONG KONG
COPIES TO
LIMITED
SIR IAN SINCLAIR
MR BURROWS
HKD
HD/FED
MR ROBERTS
HD/PLANNING STAFF
MR MARTIN
HD/PUSD
PS
PS/LADY YOUNG
PS/MR LUCE
PS/PUS
SIR J BUILLARD
MR GIFFARD
MR DONALD
MR WRIGHT
MR FLOWER
MR COLES
SIR A PARSONS
LEGAL ADVISER
LEGAL ADVISER
NEWS D
ASSESSMENTS STAFF
CABINET OFFICE
PUSD
NO 10 DOWNING STREET
NO 10 DOWNING STREET
MR WAIKER RESEARCH D OAB 2/82
MR GOODALL, CABINET OFFICE
SIR PHILIP MOORE, BUCKINGHAM PALACE
2
RESTRICTED