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all that different from
that
produced by the appointed
system, and because of this has gained support for the indirect elective system.
4.
ΑΓΓ these factors have combined to create social
stability and an absence of immediate tension in the
community.
5.
Underneath this picture of stability lie the
constant factors of volatility and vulnerability
trade factors.
Hong Kong lives by
limitations on
•
The
As a
access to
A strong
vulnerability is to external
community without resources
manufacturing and trade. Any
overseas markets threatens Hong Kong's economy. economy is essential to social stability. Thus the deep
and
insistent
public
concern
protection i sm in the United States.
expressed
about
The existence in
Hong Kong of a large and internationally oriented
financial centre brings with it both economic advantages
and high exposure to risk. Fraud on a massive scale has
twice brought banks near to
government to take them over.
failure and forced the
The existence of large
reserves in the exchange fund has
safeguard in times of crisis. Without
proved a strong
the link with the
US dollar there would have been
have been high volatility in the
exchange rate of the Hong Kong dollar.
6.
Confidence in Chinese intentions is still brittle.
Their actions, particularly as regards the Basic Law,
which will be Hong Kong's "constitution" after 1997, are closely scrutinised by the Hong Kong public. They have been given some good marks and some bad: good marks for
including a number of reputable Hong Kong figures in the
Basic Law Drafting Committee: bad mark s for packing it with so many ageing Chinese mainland figures: good mark s for the practical approach which they have adopted in the
Land Commission, and bad marks for their failure to give
Hong Kong airlines a fair deal at the first round of air
service talks. Good mark s for their refraining from
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