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"Social Development in Times of Economic Uncertainty", the
theme of your conference, is clearly most apt. It is particularly so against the backdrop of Hong Kong where the economy is so largely
influenced by external forces quite beyond its control.
Of course,
we are all living in a period of great uncertainty, characterised by the spectre of escaleting oil prices, the threat of economic recession,
political unrest in many parts of the world and
words to the contrary.
in spite of fine
increasingly restrictive trade attitudes
and practices adopted by many major industrialised countries.
These uncertainties make forward-planning, whether economic
or social, a hazardous exercise at best, and more so in the case of territories like this one: for in Hong Kong we must rely on the export
of goods to earn our living.
Hong Kong has no "natural resources", apart from a well- situated harbour and, importantly, an industrious and versatile work- force. However, very good use has been made of these resources, and we have enjoyed rapid economic growth over the last few years. not always thus. We have had more than our fair share of pressures
It was
/and disasters
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