THURSDAY, MARCH 26, 1981
16
ALTHOUGH ONE OF THE FOUR MILLS HAS SUCCESSFULLY
RE-ESTABLISHED ITSELF AT SHENZHEN, MR CHEONG ASKED: +WHAT DEGREE OF RELIANCE CAN WE PLACE ON ENTERPRISES ESTABLISHED OUTSIDE OUR BORDERS?
+ IS THERE NOT A GREATER RISK OF POSSIBLE INTERRUPTIONS AND STOPPAGES IN SUCH SOURCES OF SUPPLY?+
HE WAS CONCERNED THAT ABOUT 56 PER CENT OF LOCAL APPAREL SECTOR'S REQUIREMENT FOR FINISHED FABRICS COMES FROM EXTERNAL SOURCES OF SUPPLY, AND THIS DEGREE OF EXTERNAL DEPENDENCE IS BY ANY STANDARDS FAIRLY SUBSTANTIAL.+
IN THIS REGARD, HE CALLED FOR +SOME DEGREE OF GOVERNMENT INTERVENTION+ SO AS TO REDUCE THE APPAREL SECTOR'S DEPENDENCE ON EXTERNAL SOURCES OF SUPPLY.
+ IF THIS PROPOSAL IS ACCEPTABLE, I ENVISAGE THAT INDIVIDUAL FINISHING MILLS WOULD POOL THEIR RESOURCES TOGETHER IN PLANNING AND INSTALLING CENTRAL ISED POLLUTION-CONTROL FACILITIES, PERHAPS EVEN ENERGY-SAVING, HEAT-RECYCLING AND WATER-RECYCLING FACILITIES.
+THE RESULT WOULD BE A MORE EFFICIENT FINISHING SECTOR AND,
IN TURN, AN APPAREL SECTOR THAT WOULD BE LESS DEPENDENT ON EXTERNAL SOURCES OF SUPPLY, HE ADDED.
ON THE FUTURE OF THE MULTI-FIBRE ARRANGEMENT, MR CHEONG STRESSED THAT HONG KONG MUST ENDEAVOUR TO DEVELOP A VIABLE POSITION OVER THE COMING MONTHS.
IN SO DOING, HE SAID, THE FOLLOWING THREE BASIC CONSIDERATIONS SHOULD BE TAKEN INTO ACCOUNT:
FIRST, AN OBJECTIVE APPRAISAL SHOULD BE MADE OF OUR REASONS FOR EITHER SUPPORTING OR NOT SUPPORTING A SUCCESSOR TO THE PRESENT MEA, AND OF WHAT WE WOULD LIKE TO SEE PROVIDED FOR IN THE NEW ARRANGEMENT.
SECONDLY, AN APPRAISAL SHOULD BE MADE ON THE LEGITIMATE DEMANDS OF OUR MAJOR TRADING PARTNERS.
THIRDLY, AS HONG KONG HAVE BEEN REGARDED AS SETTERS OF TRENDS AND PRECEDENTS IN THE GATT AND IN THE TEXTILES COMMITTEE AND LOOKED UPON BY DEVELOPING COUNTRY SUPPLIERS TO SET AN EXAMPLE. IT IS THEREFORE IMPORTANT TO BEAR IN MIND THAT, WHATEVER POSITION WE MAY ADOPT. IT MUST NOT BE ONE THAT WOULD ALIENATE OURSELVES FROM THE REST OF THE DEVELOPING WORLD.
MR CHEONG ALSO SPOKE ON THE SIZE OF THE PUBLIC SECTOR RELATIVE TO THE SIZE OF THE G.D.P.
HE NOTED THE RELATIVE SIZE OF THE PUBLIC SECTOR HAS REGISTERED AN AVERAGE ANNUAL GROWTH RATE OF ABOUT 13.8 PER CENT AT CONSTANT PRICES IN THE YEARS 1976 TO 1980, AND TO OVER 21 PER CENT THIS YEAR DURING A PERIOD OF GROWTH.
+WEILST DEE