CONFIDENTIAL Z
機密
-
(12) Despite the risks that Hong Kong will import some
inflation from China, unless the problem of inflation
in China develops into widespread social unrest Hong Kong is likely to continue to benefit from China's
rapid economic growth and its need to import more to satisfy its domestic demand. These factors have been at least partly responsible for the very rapid growth of Hong Kong's exports to China in 1988
(paragraph 48). But the prospects in 1989 are less buoyant. Due to an acute shortage of energy and raw
materials as well as a possible contraction in the
overall supply of credit, the pace of economic growth in China may slow down markedly in 1989, perhaps to
4% or 5%. If so, Hong Kong's exports to China may enter a period of consolidation next year.
This may
be no bad thing given that Hong Kong is presently suffering from the inflationary consequences of excess demand for its products (paragraph 49).
CONFIDENTIAL
Requenaa25252525252525252MİNENİNİNİNİNİNİNİNİNİŞİNİNİ İNİNİDANINDIAN papanobenene
機密