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WEDNESDAY, NOVEMBER 26, 1975
REFERRING TO HONG KONG'S ASSOCIATIONS WITH THE SEA, SIR DENYS SAID THAT IN THE PAST QUARTER OF A CENTURY HONG KONG HAD BEEN TRANSFORMED FROM A TRANS-SHIPMENT PORT INTO ONE OF THE MAIN MANUFACTURING CENTRES OF THE WORLD. +BUT, WHEREVER YOU LOOK, YOU ARE CONSTANTLY REMINDED THAT OUR VERY EXISTENCE DEPENDS UPON THE SEA AND THAT SHIPPING PLAYS A DOMINANT ROLE IN THE LIVES OF THOSE WHO LIVE IN HONG KONG.+
IN CONCLUSION, THE ACTING GOVERNOR SAID THE SERIOUS RECESSION WHICH FOLLOWED THE OIL CRISIS HAD FALLEN HEAVILY ON SHIPOWNERS, WHO HAD CARRIED SO FAR THIS YEAR ABOUT 10 PER CENT LESS CARGO THAN LAST YEAR. +NOR CAN THE PROSPECTS OF RECOVERY YET BE READILY ASSESSED.+
HE DID NOT SUPPOSE THE DELEGATES ATTENDING THE
CONFERENCE WOULD LEAVE HONG KONG WITH +ANY PANACEA FOR THE TEMPORARY SICKNESS OF WORLD TRADE- BUT PERHAPS YOU WILL LEAVE US WITH MORE HOPE FOR THE FUTURE THAN WHEN YOU CAME. FOR THIS IS A PLACE WHICH BREEDS OPTIMISM.+
NOTE TO EDITORS: COPIES OF THE FULL TEXT OF THE ACTING GOVERNOR'S
SPEECH ARE DISTRIBUTED SEPARATELY IN THE GIS PRESS BOXES.
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