TNAG-1779-FCO40-2539-Hong-Kong-international-telecommunications-1988

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EXHIBIT 2.22 TELECOMMUNICATIONS INVESTMENTS AS A PERCENTAGE OF GDP 1985

% GDP INVESTED IN TELECOMS

0.025

0.020

0.015

0.010

0.005

0.000

HONG KONG

JAPAN

U.K

AUS

SINGAPORE

SOUTH KOREA

Source: Yearbook of common carrier statistics, ITU