Treasury Chambers,
Whitehall, S. W.
I agree that as a first step we might merely fix
up an agreement with the Chinese Customs on the lines
of the 1930 proposals but I doubt whether this will
substantially help Hongkong trade; and I think the
possibility of negotiating a Customs union should be
kept in mind and the possibilities carefully explored.
Yours sincerely,
Frituurs
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