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3.
HONG KONG STANDS LESS THAN 4 YEARS FROM THE TRANSFER OF SOVEREIGNTY. HISTORY INEVITABLY INTRUDES. EXACTLY TWO HUNDRED YEARS AGO THIS MONTH EARL MACARTNEY FAILED TO PERSUADE THE QIANLONG EMPEROR TO GRANT TRADE AND DIPLOMATIC CONCESSIONS. WITHIN 50 YEARS, THE RESULTING MUTUAL MISUNDERSTANDINGS HAD PROVOKED HOSTILITIES ENDING IN THE BRITISH ACQUISITION OF HONG KONG. THIS 150 YEARS LONG CHAPTER IS SHORTLY TO CLOSE. BUT THE JOINT DECLARATION, BASED ON THE CONCEPT OF ONE COUNTRY, TWO SYSTEMS' AND ON THE PRINCIPLE OF PRESERVING HONG KONG'S PROSPERITY AND STABILITY, GIVES HONG KONG THE BREATHING SPACE FOR AT LEAST ANOTHER 50 YEARS TO MAINTAIN ITS ESSENTIAL DIFFERENCE FROM CHINA. THAT DIFFERENCE IS IN REALITY THAT BETWEEN THE RULE OF LAW AND THE RULE OF WHIM. CHINA'S TRAGEDY IS THAT IT HAS NEVER MANAGED TO ESTABLISH THE PRIMACY OF LAW IN ITS SYSTEM(S) OF GOVERNANCE. HENCE ITS PERIODIC LURCHINGS FROM ONE MORE OR LESS TOTALITARIAN SYSTEM TO ANOTHER.
4.
HONG KONG, WHATEVER ONE'S QUALMS ABOUT ITS BIRTH, AND HOWEVER ONE QUESTIONS ITS VARIOUS FAILINGS, HAS GIVEN ITS CITIZENS, ITS TRADERS AND INVESTORS THE FUNDAMENTAL GUARANTEE OF EQUAL TREATMENT BEFORE THE LAW. AS LI KA-SHING RECENTLY SAID TO ME, HE HAD TOLD THE CHINESE IN PEKING THAT HONG KONG PEOPLE DID NOT NECESSARILY LOVE THE BRITISH BUT THEY LOVED BRITISH LAW. UNFORTUNATELY, IN A SOCIETY WHERE THE CONCEPT OF LAW IS CONFUSED WITH POWER, CHINA'S LEADERS ARE UNLIKELY TO FULLY COMPREHEND THE
IDEA OF THE RULE OF LAW AND ITS INTIMATE CONNECTION WITH HONG KONG'S SUCCESS. OUR ATTACHMENT TO DEMOCRATIC ACCOUNTABILITY AS THE ANCHOR OF LAW FINDS NO ECHO IN PEKING. THE LEADERSHIP THERE, CONFUSING DEMOCRACY WITH CHAOS (LUAN), SEE OUR ATTEMPT TO BROADEN THE FRANCHISE NOT AS A PROP TO GUARANTEE HONG KONG'S CONTINUED PROSPERITY, BUT AS A PLOT TO THREATEN ITS STABILITY.
VIEWS OF THE BUSINESS COMMUNITY.
5.
TURNING MORE DIRECTLY TO THE CONCERNS OF THIS TRADE COMMISSION, IT IS NOT AT ALL CERTAIN THAT THE BUSINESS COMMUNITY, LOCAL OR EXPATRIATE, WITH A FEW NOTABLE EXCEPTIONS, UNDERSTANDS WHAT IS AT STAKE. FOR MANY, UNHAPPY AT THE POSSIBLE EFFECT ON THEIR BOTTOM LINES OF CHINA'S EXAGGERATED OUTRAGE, LEARNING TO LIVE WITH CHINA'S WAY OF DOING THINGS APPEARS THE LESSER EVIL. THE BUSINESS COMMUNITY WERE RELIEVED, WITH THE MAJORITY OF THE COMMUNITY, WHEN TALKS BEGAN. THEY MUCH PREFER TALKS TO CONFRONTATION. THEY HAVE AVOIDED FACING UP TO WHAT HAPPENS IF THE TALKS FAIL. IF FAILURE HAPPENS, THEIR PRESENT TEMPORARY SILENCE
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