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+ IT IS ALSO IMPORTANT NOT TO OVERLOOK THE POSSIBILITY OF A NUMBER OF REFORM MEASURES, TAKEN TOGETHER, HAVING A CUMULATIVE EFFECT, ALTHOUGH I WOULD READILY ADMIT THAT I WOULD BE THE FIRST TO CRITICISE THE GOVERNMENT IF, IN A RAPIDLY DIVERSIFYING ECONOMY, IT FAILED TO KEEP THE INSTITUTIONAL AND REGULATORY FRAMEWORK UP TO DATE.
+BUT, IN SAYING THAT, I WOULD CAUTION THE GOVERNMENT NOT TO EE SO PREOCCUPIED WITH THE IMPLICATIONS OF HONG KONG'S EMERGING STATUS AS AN INTERNATIONAL CITY, REQUIRING THE ALIGNMENT OF THAT FRAMEWORK WITH INTERNATIONALLY ACCEPTED STANDARDS, AS TO RUN THE RISK OF DAMAGING THE FREEDOMS OF OUR MARKET PLACE AND TO BE CARELESS OF LOCAL FEELINGS. +
MISS DUNN PAID TRIBUTE TO SIR PHILIP FOR HIS ACHIEVEMENTS DURING HIS REIGN AS FINANCIAL SECRETARY FROM 1972-1981.
SHE RECALLED THAT DURING THE 10-YEAR PERIOD, NOT ALL OF SIR PHILIP'S DECISIONS AS FINANCIAL SECRETARY HAVE ALWAYS BEEN POPULAR WITH, OR UNDERSTOOD BY, ALL SECTIONS OF THE COMMUNITY, SHE SAID.
+ BUT HE HAS ALWAYS BEEN CONCERNED TO PURSUE THE BROAD PUBLIC INTEREST, WITHOUT FEAR OR FAVOUR, AND HAS ALWAYS BEEN AT PAINS TO EXPLAIN HIS THINKING OFTEN AT SOME LENGTH - AND TO DEFINE WITH GREAT CARE A PHILOSOPHICAL FRAMEWORK FOR THE GOVERNMENT'S BUDGETARY AND RELATED POLICIES.
+SO IT IS NO ACCIDENT THAT HONG KONG TODAY HAS A HIGHLY SOPHISTICATED AND DIVERSIFIED ECONOMY IN WHICH, FOR EXAMPLE, THE WORLD'S LARGEST BANKS AND BUSINESS HOUSES OPERATE SIDE BY SIDE WITH DOMESTICALLY BASED ENTERPRISES WHICH, IN SIZE AND SCOPE, NOW HAVE AN INTERNATIONAL DIMENSION OF THE IR OWN.+
THOSE WHO HAVE WORKED WITH SIR PHILIP, AND HAVE KNOWN HIM AS A FRIEND, ALSO KNOW THAT HE IS POSSESSED OF AN ALMOST INSTINCTIVE BELIEF IN THE IMPORTANCE OF LOYALTY TO THE SYSTEM AND AN ABILITY TO INSPIRE LOYALTY IN THOSE WHO WORK WITH AND FOR HIM, SHE NOTED.
+ IN HIS PRESENT POST. HE HAS BEEN EXPOSED AS FINANCIAL
SECRETARY AS SUCH RATHER THAN A PERSON.
+THAT IS THE INESCAPABLE LOT OF A FINANCIAL SECRETARY.
+YET HE IS A COMPASSIONATE MAN WITH A TOTAL DEDICATION TO HONG KONG. MISS DUNN ADDED.