The latest information we have had for H.K. is on 53508/1/1Q1 helms & park 2 of HK til 1272 shows that the number of persons employed in the rubler industry fall from 5,900 in the first quarter to 3,200 in the third quarter. of the facts in that
tel an accurate it wild appear that the H.K. traders
unlikely to be able to compete successfully in the U.K. markets unless (a) the price of subler comes down or
(b) He V.K. menfacteurs increase their prices.
5
On the other part I agree with the Welles' minute of 20/12. I feel sace He H.K. traders have already explosed the peachbity of alternative markets.
I also fully report te wille's last park. The U.S.A. notual embargo a goods & materials to H.K. & Chimere retaliation in good matinaly to the U.S.A. is bound to have
~ H.K. industring & trade. Attempts to keys
senms effects
A
ގ
H.K. out of the U.K. machets cannot but have further depening effects
a H.K. morale a as the South China Morning Post of
11.12.50 states "H.Ks fate ing is to be mesanderstood &
mes represented. & prospinty
< painted as profligate
receiving only.
catively underening. In aduenity
just deserts. We are convicted unheard of all manner
of sharps practices.
#
There is another aspect about which I am not
very
char.
when dealing with the P.Q. I was informed that in the U.K.
rubber shoes it was
only a
econdary industry 1.8. He same
manufactures had other
interest
major
2.5.
He manufacture
of tyres. The some is not the case in H.K. where the loss of
machets will probably
cloring the whole factory.