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35 Mr. 'བ་རྫས།་

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(d) Despite these, all is not as bleak as it might

appear. While picking up the pieces will obviously be harder for Hong Kong than for most other financial centres, there is understanding that Hong Kong is resiliant and changeable and its ability to rebound from adversity is well documented. For example, Ms. Verna Borisenko, Vice President of the Union Bank headquartered at Los Angeles thought that overall, people would regard the closure of the Hong Kong market as an isolated incidence and that it would not have excessive long lasting ill effect on Hong Kong's role as a financial centre?

(e) We believe that the damage done to Hong Kong's image as a result of all these can be limited to the short term. Much of the damage will correct itself as the Hong Kong market and other markets around the world stabilize. What is now important is to publicize the stabilizing of the Hong Kong market and its new management,

(f) We feel that when the findings of the Review Committee are accepted by Government, they should be widely publicized through a special co-ordinated exercise. One best way to do this is for special speaking engagements or briefing session to be arranged for Messrs. Fell, Nendick and Jacobs in US including, in particular, San Francisco and Los Angeles on the West Coast. The PR consultants could help targetting the right audience in this endeavour,

I also attach a list of recommendations from Beyl, which we concur, Indeed, most of them are part of our continuous efforts

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in reaching out to the West Coast business community and in publishing Hong Kong as an important financial centre, for now and for the future

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