54466/49.
CORNIDENTIAL
20th February, 1950.
47 12
We have been considering for some time whether, because of the complexity of its trading problems, it would not be a good thing for the Government of Hong Kong to have an economic adviser, who woula probably be called an Economic · Secretary, on its staff. The import and export trade of the Colony are very large and, although there are quite a number of important local industries, its economic health is based upon its large entrepot trade.
It is a fairly recent development for Colonies to have economic advisers appointed to them and several of the larger Colonies now have such officers under a variety of titles. The advantage, of course, is that they then have a man with considerable theoretical and practical economic experience, who is not too much tied down to departmental duties and can give advice on the broader aspects of economic policy. The difficuly has always been to find men of the right calibre and experience who are willing to serve overseas at the salary scales offered. The problem is particularly difficult in Hong Kong, because such a man to be of any use there would have to be not only an economic expert, but one with some experience of Lastern trading and financial conditions.
We have been in correspondence with the Governor of Hong Kong about this, and what in fact he has in mind is that under a proposed reorganisation of the economic departments the Colony, the head of the Department of Commerce and Indu would in effect be his conomic Adviser. He has in mind on local officer, who is at present doing another job, who mig conceivably be qualified for the post, but neither the Gov nor we have yet made up our minds about this. Before goir further, we want to have a look round to see if there is
avail
C.F. COBBOLL, ESQ.