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commercial and social life of the China coast of the early and mid-
19th century. Since those colourful, if somewhat disreputable days,
American power and influence has played a prominent and often dominant
and, in my view, usually beneficial role in the area. Indeed of all
events in East Asia of the last decade I would point to the normali-
sation of relations between the United States and the People's
Republic of China as the most outstanding act of statesmanship and
the one which has contributed most to political stability and economic
confidence in the area and indeed far outside it.
So we in Hong Kong admire the United States and know
the contribution it has made to the East Asian region in which we
live. 19 per cent of our trade is with the United States. Many of
our young managers, bankers, engineers and teachers have American
degrees. Americans play a considerable part in the economic and
cultural life of our city. Moreover in this last 18 months America
has earned our undying gratitude by the vigour with which she moved
to lead in the resettlement of boat refugees from Vietnam, more
than 70 000 of whom Hong Kong has given temporary asylum and of which
we still have more than any other community in the region. The
part played by the American Government and by American hosts all
over the world in this most recent tragic episode of a tragic country
is one which Americans regard with pride, and I assure you we in Hong
Kong with admiration and gratitude.
/So we