(c)
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an assessment of the long term damage done to
Hong Kong's image; and
(d) advice on possible additional ways of repairing
that damage.
Scope of Review
4.
The limited scope of the inquiry should be
emphasised. Reports could only be requested from those
places where the Hong Kong Government maintains overseas
offices (i.e. London, Geneva, Brussels, Washington, New
York and San Francisco). There is therefore nothing from
Japan which is the world's third largest financial centre
and which is significant because it is in a similar time
zone to Hong Kong, nor is there any report from
Australia.
Reaction there to Hong Kong's stock exchange
closure is reported to have been particularly adverse,
again because of the similarity of time, and unit trusts
with large sale orders were forced to dump shares in
Sydney to raise cash because they could not sell in Hong
Kong. An example of coverage is the Sydney Morning
Herald's article of 29 December 1987.
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