11
21.
THE AGREEMENT PROBABLY HAS NO PRECEDENT IN
INTERNATIONAL RELATIONS. IT IS THUS NOT SURPRISING
NO
THAT THE QUESTION SHOULD BE ASKED "WILL IT WORK?". No
ONE CAN GIVE CAST-IRON GUARANTEES ABOUT THE FUTURE.
BUT I BELIEVE THAT IT WILL, BECAUSE IT IS FREELY
ACCEPTED BY BOTH GOVERNMENTS AS A LEGALLY BINDING
INTERNATIONAL AGREEMENT, BECAUSE THE WORD AND PRESTIGE
OF BOTH COUNTRIES ARE FIRMLY COMMITTED TO IT, AND
BECAUSE IT IS IN THEIR JOINT AND INDIVIDUAL POLITICAL
AND ECONOMIC INTEREST THAT IT SHOULD BE A SUCCESS.
SUCCESSFUL IMPLEMENTATION OF THE AGREEMENT WILL ALSO IN
THE WIDER INTERNATIONAL INTEREST. A POTENTIAL SOURCE
OF DISPUTE AND INSTABILITY HAS BEEN REMOVED BY PEACEFUL
NEGOTIATION FROM THE ALL TOO FULL AGENDA OF WORLD
PROBLEMS. THE WORLD NEEDS MORE EXAMPLES OF THAT KIND.
22.
THE
ITS
SO THE PROSPECTS FOR HONG KONG ARE GOOD.
ECONOMY IS HEALTHY, AND ITS EXPORT PERFORMANCE IS
STRONG: THE GROWTH OF OUR GROSS DOMESTIC PRODUCT IN 1984 IS LIKELY TO BE EIGHT PER CENT IN REAL TERMS. INFLATION IS UNDER 7% AND FALLING, THANKS IN PART TO
THE GOVERNMENT THE STABILITY OF THE HONG KONG DOLLAR,
WILL CONTINUE TO FOLLOW A PRUDENT BUDGETARY POLICY. OUR DEFICIT IS LOW: AND WE ARE NOW IN SIGHT OF
RETURNING TO A BALANCED BUDGET. WHILST WE ARE
DETERMINED TO KEEP PUBLIC EXPENDITURE WITHIN OUR
REVENUE RESOURCES, WE ARE INVESTING VIGOROUSLY IN THE
FUTURE.
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