CONFIDENTIAL #3
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workforce would shift to the services sector
(34)
However, in view of the difference in skills and
experience required for different jobs, changes in
employment could well not be smooth in some cases, and the adjustment process could be difficult. Older workers with limited or specialised skills could be a particular
problem.
43.
But these sectoral problems can be avoided or at least reduced if the pace of change is gradual. Rapid change is always more difficult to adapt to than gradual
change.
Role of Hong Kong Government in maintaining the
competitiveness of the local economy and its manufacturing
sector in particular
44.
(a)
Facilitation of product upgrading and innovating
At present, Guangdong's comparative advantage
lies in the provision of relatively cheap, unskilled workers for labour-intensive processes. A successful tende response to this by Hong Kong will require a shift away from such processes and towards those requiring greater
skills where Hong Kong's relatively more expensive workers
can continue to be competitive. By so doing, Hong Kong can maintain a competitive edge over Guangdong even in the
long term.
(34) Within the manufacturing sector, there would also be
a relative shift of the workforce to skill and/or knowledge intensive production processes from labour and/or land intensive production processes as the real wages of the former were likely to increase faster than the latter.
G.F. 326
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