TUESDAY, MAY 5, 1981
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HONG KONG HAS LONG-TIME ROLE IN MODERNISATION OF CHINA
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THE SIGNIFICANT ROLE HONG KONG IS EXPECTED BY PEKING AND LONDON TO PLAY IN THE MODERNISATION OF CHINA IS NOT A TEMPORARY SITUATION, THE ACTING CHIEF SECRETARY, MR DENIS BRAY SAID THIS (TUESDAY) EVENING.
THE TASK OF MODERNISATION IN CHINA IS STAGGERING AND WOULD LAST A LONG TIME, HE TOLD A GROUP OF VISITING WALL STREET ANALYSTS AT A DINNER HOSTED BY THE BANK OF AMERICA.
HONG KONG, HE SAID, WAS A GATEWAY AND A SHOWROOM TO CHINA, AND NEITHER PEKING NOR LONDON NOR WE OURSELVES WOULD BE HAPPY WITH A DETERIORATION IN OUR PROSPERITY.
DESCRIBING HONG KONG AS A WORKSHOP TO THE WORLD, MR BRAY SAID ANYONE WITH A NEW PRODUCT CAN GET IT MADE HERE PROBABLY CHEAPER AND BETTER IN TERMS OF QUALITY CONTROL ELSE IN THE WORLD.
THAN ANYWHERE
+WE HAVE MANUFACTURING TECHNOLOGY AND MARKETING ENTERPRISE THAT CAN HELP ANYBODY WITH A BRIGHT NEW PRODUCT TO MAKE AND SELL IT, HE SAID. HONG KONG ALSO HAS ONE OF THE VERY VERY FEW DEEP WATER CONTAINER TERMINALS IN ASIA, AND AN INTERNATIONAL BANK ING COMMUNITY.
MR BRAY NOTED THAT THE UNITED STATES WAS THIRD, AFTER JAPAN AND CHINA, IN THE LIST OF SUPPLIERS TO HONG KONG. IMPORTS FROM AMERICA WERE APPROXIMATELY EQUAL TO THOSE FROM THE EEC, AND TWO-AND-A-HALF TIMES THE VALUE OF THOSE FROM BRITAIN.
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+ON THE OTHER HAND, LOOKING AT AMERICAN EXPORTS TO ASIA, THINK IT IS NOT UNREASONABLE TO SAY YOU ARE NOT TRYING IN HONG KONG, SAID MR BRAY, POINTING OUT THAT AMERICAN EXPORTS TO HONG KONG IN 1980 COMPRISED ONLY US$2.5 BILLION COMPARED TO US$20 BILLION TO JAPAN.
MOST COUNTRIES ENGAGED IN INTERNATIONAL TRADE, HE SAID, WOULD TRY TO BE SWEET AND KIND TO THEIR CUSTOMERS AND TRY TO STIMULATE TWO-WAY TRADE.
+BUT WHAT HAVE OUR MASTERS IN BRITAIN AND ONE OF OUR BIGGEST SUPPLIERS-AMERICA - ACTUALLY DONE?
ACTUALLY DONE? I DON'T REALLY THINK IT WAS DELIBERATE BUT THEY HAVE BOTH SELECTED OUR BIGGEST EXPORT OR FENTED INDUSTRY TO ATTACK IN A WAY THAT NO RESPECTABLE GATT SUPPORTER COULD COUNTENANCE. +
MR BRAY POINTED OUT THAT THE TEXTILE AND APPAREL INDUSTRY PROVIDED NEARLY HALF OF HONG KONG'S EXPORTS AND NEARLY HALF OF
ITS MANUFACTURING EMPLOYMENT.
+WE MAKE T-SHIRTS, JEANS, BLOUSES, SKIRTS, FASHION GARMENTS AND CRAZY SPORTS GEAR, AND WE MAKE IT WELL AND CHEAP.
/+YOUR FRIENDS