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HKB 102/4
2. NOV 1993
TC
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DTI:
Mike Cohen, XAAA2
Alan Murray, XAAA2D
David Hall, Head/PEP
FCO: Peter Ricketts, Head/HKD
Graham Fry, Head/FED
Peking: Allan Kerfoot
Martin Dinham
BTC: Ian Wellfare
David Smith
GH:
Peter McCoy
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Tony Yu
Nelson Chung
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British Trade Commission Hong Kong
the TDC Armal Dinine vesih year, to)
"HONG KONG WORKS" CONFERENCE IN LONDON
23/11
Mh Man's Mr. Whiti 29/11
Ms. Bevel
Uteht for speeches..
Doy.
1. The following are a number of comments made by speakers at this excellent conference which I thought it worthwhile noting:
2. Asia
a) By the end of century, the output of Asia would exceed that of the EC (Prime Minister).
b) Asia was the fastest growing area of the world. Its economies had been growing faster than Europe for 3 decades (Sir W Purves).
c) By the end of the century, three-quarters of the world's trade would be moving through the Pacific (Sir W Purves).
d) The Asian Development Bank believed that Asia's annual gross domestic growth would be about 7% for the foreseeable future. This would create a massive consumer market (V Fung).
e) By the year 2000, Asia's population would be two-thirds of the world's population (V Fung).
f) How to tap such a vast consumer market:
LAST PAPER
Companies need to be on site in Asia;
Companies must design goods for Asia, not try to sell to Asia goods designed for elsewhere;
Companies should consider local manufacture, not least because a high degree of tariff protection would persist in Asia. Companies should also take advantage on Asia's relatively cheap land and labour. That is what Hong Kong' s 25,000 manufacturing entities in China were doing.
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A brand name established in Hong Kong had a very strong resonance all over Asia. It is in Hong Kong that the overseas Chinese shop.