8
MONDAY, SEPTEMBER 23, 1985
+I CAN ASSURE YOU THAT THE GOVERNMENT IS DOING ITS BEST
TO LOOK AFTER OUR TRADING INTERESTS,+ HE SAID.
SUMMING UP, SIR JOHN SAID THAT HONG KONG'S EARLIER HOPES FOR 1985 WERE UNLIKELY TO BE ACHIEVED AS FAR AS THE GROWTH RATE OF THE ECONOMY WAS CONCERNED.
THE EXPECTED GROWTH RATE OF 4.5 PER CENT TO FIVE PER CENT NEVERTHELESS REMAINED HIGH BY WORLD STANDARDS, AND THE INFLATION AND UNEMPLOYMENT RATES WERE LOW.
MOREOVER, THE MODERATE REVIVAL IN THE PROPERTY MARKET SHOULD HELP REMEDY IMBALANCES IN THAT SECTOR.
+ALL IN ALL, THE OUTLOOK IS STEADY AS SHE GOES,+ SIR JOHN
SAID.
PROPOSED REVISION OF TRADE BILL 'OBJECTIONABLE'
***
COMMENT ING ON AN AMENDED VERSION OF THE TEXTILE AND APPAREL TRADE ENFORCEMENT BILL LIKELY TO BE PROPOSED THIS WEEK BY SENATOR THURMOND, THE DIRECTOR OF TRADE, MR HAMISH MACLEOD SAID THAT THE BILL IF AMENDED AS ENVISAGED WAS STILL THOROUGHLY OBJECTIONABLE.
HE SAID ALTHOUGH THE PROPOSED CUTS HAVE BEEN LIMITED TO NOT MORE THAN 30 PER CENT IN ANY CATEGORY, THE REVISED BILL HAS SINGLED OUT THOSE WHO PROVIDE 10 PER CENT OR MORE OF THE UNITED STATES IMPORTS (PROVISIONALLY, KOREA, TAIWAN AND HONG KONG) FOR THE HARSHEST TREATMENT.
+AS FAR AS HONG KONG IS CONCERNED, THE AMENDED BILL IS STILL UNJUST AND UNJUST IF IED, AND CLEARLY INCONSISTENT WITH THE PHILOSOPHY OF FAIR TRADE ESPOUSED BY PRESIDENT REAGAN AND MANY OTHER UNITED STATES POLITICIANS,
+
+FURTHERMORE, OUR FUNDAMENTAL OBJECTION TO THE IR UNILATERAL APPROACH TO SOLVING TRADE PROBLEMS REMAINS THE BILL, EVEN IF AMENDED, STILL RUNS COUNTER TO THE GATT, THE MFA AND THE UNITED STATES OBLIGATIONS UNDER EXISTING BILATERAL TEXTILE AGREEMENTS. THE LATEST VERSION IS MERELY A DIVISIVE PLOY. WE ARE AS DETERMINED AS EVER IN OPPOSING IT. +
/THE PRINCIPAL