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The phenomenal growth of the reexport trade, up
51% between 1978 and 1988, is not the only significant
change in the pattern of our trade. We are increasingly a
distribution point for non-China regional trade. Last year
saw a 45% growth in this trade. Over half of our total
trade is now with the Asian region. Your own figures
reflect a similar trend. For the past decade your trade
across the Pacific has exceeded that across the Atlantic.
We are no longer so reliant as we were on the
United States as a market. Even so, you are still the
largest market for our exports. You take one third of
everything we produce. And with increasing prosperity we
buy more from you. Last year every man, woman and child in
Hong Kong bought just under US$1000 worth of US goods. That
is three time more per head than Japan and four times more
than the European community.
You on the West Coast are perhaps more aware of
Hong Kong is California's
these changes than other states.
sixth largest trading partner. In 1988 you sold $2.4
billion worth of goods to Hong Kong, an increase of over
40% on the year before. Much of this is high quality
foodstuffs. In fact it reads like a grocery list. We are
your biggest market for oranges. We are in the top three
for grapes, prunes, plums, melons, tomatoes, cabbage,
celery, lettuce, peppers, apples, cherries and lemons.