RESTRICTED
(1)
ALTHOUGH THE IMPLEMENTATION PROCESS FOR THE JOINT DECLARATION HAS ONLY JUST BEGUN, HONG KONG ALREADY FINDS ITSELF IN THE MIDST OF INTERNAL AND EXTERNAL ARGUMENTS ABOUT THE SPEED AND SCOPE OF CONSTITUTIONAL DEVELOPMENT AND THE INTERRELATIONSHIP BETWEEN THOSE DEVELOPMENTS AND THE BASIC LAW DRAFTING EFFORT. THIS IS REGRETTABLE AS IT WILL NOT HELP HONG KONG'S AMBITIONS TO MAINTAIN INTERNATIONAL CONFIDENCE.'
(44) '.... THE CONSEQUENCES OF ANY MEASURES CAPABLE OF THREATENING (OUR ECONOMIC) SUCCESS EVEN TEMPORARILY DOES NOT BODE WELL FOR THE LONGER-TERM FUTURE OF THE TERRITORY. GRADUALISM IN THE BUSINESS CONTEXT IS ALWAYS PREFERABLE TO SUDDEN CHANGE.'
YOUDE
"HONG KONG AGREEMENT
LIMITED
HD/HKD HD/FED
HD/PLANNING STAFF HD/PUSD
DEP HD/PUSD
RES (MR WALKER)
PS
PS/MR RENTON
COPIES TO: (VIA ADR)
MR ROBERTS NEWS DEPT MR FIFOOT LEGAL ADVS MR MARTIN ASST STAFF
CABINET OFFICE
MR MALLABY CABINET OFFICE MR DRC CHRISTOPHER
CABINET OFFICE SIR P CRADDOCK NO 10 DOWNING ST. MR WOOD LEGAL ADVISERS
PS/PUS
BIR W HARDING
MR WILSON
SIR J FREELAND
MR J CROWLEY PUSD
4.
RESTRICTED