7.
IN THE LAST FEW YEARS HONG KONG'S TRADITIONAL
ROLE AS A TRADING CENTRE HAS ALSO REVIVED STRONGLY, AS
A RESULT OF THE OPENING OF CHINA'S ECONOMY SINCE 1978
AND CHINA'S POLICY OF MODERNISATION. MANY CHINESE
CORPORATIONS AND BANKS ARE ACTIVE IN HONG KONG, CHINA
IS THE LARGEST SOURCE OF OUR IMPORTS, AND HONG KONG'S
SECOND LARGEST MARKET. HOPEFULLY CHINA'S PROGRAMME OF
OIL EXPLORATION IN THE SOUTH CHINA SEAS WILL OFFER A
NEW AND ADDITIONAL OPPORTUNITY FOR THE DEVELOPMENT OF
THIS RELATIONSHIP.
8.
HONG KONG HAS THEREFORE A SUBSTANTIAL ECONOMY
OF ITS OWN, IT HAS ALSO MUCH TO OFFER AS A REGIONAL
CENTRE FOR THE FAST GROWING PACIFIC BASIN. I NEED NOT
TELL THIS AUDIENCE OF THE GROWING IMPORTANCE OF THE
PACIFIC BASIN AS A MARKET FOR THE UNITED
STATES, IN 1982. THE VALUE OF US TRADE WITH THE REGION
SURPASSED THAT WITH WESTERN EUROPE BY US$2 BILLION.
IN 1983, THIS GAP WIDENED TO US$29 BILLION; AND THE
TREND IS LIKELY TO CONTINUE. GIVEN ITS LOCATION AND
THE EXCELLENCE OF ITS COMMUNICATIONS, HONG KONG FORMS A
NATURAL POINT OF CONTACT BETWEEN THE ASIAN-PACIFIC AREA
AND THE REST OF THE WORLD - AND PARTICULARLY THE UNITED
STATES. THIS GEOGRAPHICAL ADVANTAGE HAS LONG BEEN
EXPLOITED BY HONG KONG BUSINESSMEN WHO ARE ACCUSTOMED
TO DEAL, TRADE AND THINK INTERNATIONALLY.
19