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I was a serving soldier. The world of trade in which I now find myself
is far removed from that of the army and in many ways it is at least
as much of a challenge, if not a greater oge, even though there are
welcome signs that our trading performance is starting to improve. As
far as Hong Kong is concerned, her prosperity was of course founded on
i
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trade and despite having negligible resources of her own she has.”
continued to amaze the world by the thrusting success of her business
enterprises.
"Like Britain she needs to export a high proportion of her
total output and in this has been remarkably successful - not only was
the total business between us grown threefold in six years, but in fact
from being a position of near equilibrium seven or eight years ago the
trading balance has now tipped heavily in liong Kong's favour, We in
Britain must ruefully admit that our kim in Hong Kong seem to have the
edge over us at the moment in export terms.
"What gives us even greater cause for concern however is that
the United Kingdon's share of the Hong Kong market has declined over a
period of ten years or so from 11 per cent to 5 per cent.
There are
no doubt many excellent reasons why other countries have increzgod
their share at our expense but the evidence seems inescapable that
British exporters in general have failed to capitalise on what should
historically have been a thoroughly favourable situation for them.
"Not only had Hong Kong traditionally looked to Britain as
a major supplier but the goodwill towards us in the Colony was
extensive Unhappily it seems to have been another instance of the
familiar bogey too easy a market breeding complacency, while more
aggresive salesmen from other countries make hay.
"The attribute