ANNEX Page 4
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Other economically related topics were published in:
Amsterdam's Het Financieel Dagblad and Denmark's Morgenavisen Jyllands-Posten: US and Chinese banks are gaining ground in Hong Kong as more Hong Kong firms turn to them for loans and other financial services.
DK/NL 16 - Copenhagen's Børsen and Amsterdam's Financieel Dagblad:
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On Cathay Pacific: The company expects no negative effects from the "transfer" of Hong Kong (Dagblad) and the expensive advertising campaign featuring Marco Polo has been discontinued as it was no longer considered cost effective (Børsen).
Welt am Sonntag, sister paper of the ultra conservative Die Welt: Jardine Matheson's history and a rather belated comment on the Bermuda transfer.
D 18 - VDI Nachrichten, German specialist paper published by the
Association of German Engineers: "The former Crown Colony could develop into the hub of East/West trade" and as such should merit more attention from the FRG.
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Blick durch die Wirtschaft, Frankfurt financial paper: A report on the Merrill Lynch analysis of the Hong Kong stock market which states that it will "increasingly be less affected by political occurences but will start to mirror the actual economic conditions". A second article reported Hong Kong's continuing
export boom.
Deutsche Verkehrszeitung, Hamburg based specialist paper for shipping and transport. Hong Kong's shipping companies view the future with uncertainty which has less to do with the Agreement than with the uncertain economic position of the shipping industry caused to a large extent by the oversupply of cargo space.
FEM Trends, fortnightly financial magazine based in Amsterdam: Taiwan is increasing its efforts to tempt Hong Kong businessmen and capital to the island.
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Der Tagesspiegel, Berlin daily: Several Asian countries which were considered to be developing countries twenty years ago have achieved a change over from emphasis on production of consumer goods to the manufacture and export of capital goods in recent years. According to an investigation by the German Institute for Economic Research, this applies particularly to Hong Kong, Taiwan, Korea, Singapore, Malaysia and the Philippines. The Institute concedes that this development will increase the competition and result in production cutbacks but can also enable the German capital goods industries to specialise and initiate a division of labour scheme with Asian countries as already undertaken by the US.
B 23- De Lloyd, Antwerp, a daily specialising in shipping and transport
topics: Hong Kong's shipping companies are relieved that their fears in regard to the future are unfounded. The Agreement has stated the guarantees which are essential to the industry's continued success as, for example, the free port status, freedom of trade, etc.
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