FRIDAY, NOVEMBER 21, 1986
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MINIMUM GOVERNMENT INTERVENTION IN BUSINESS STRESSED
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THE SECRETARY FOR ECONOMIC SERVICES, MR JOHN YAXLEY TODAY (FRIDAY) TOLD THE ASIAN ASSOCIATION OF MANAGEMENT ORGANISATIONS - 9TH CONFERENCE IN BANGKOK THAT THE GOVERNMENT BELIEVED THAT THE ALLOCATION OF RESOURCES IN THE ECONOMY WAS NORMALLY MOST EFFICIENT IF LEFT TO MARKET FORCES, AND GOVERNMENT INTERVENTION WAS KEPT TO A MINIMUM.
+IN HONG KONG WE BELIEVE THAT BUSINESS DECISIONS ARE BEST MADE BY BUSINESSMEN. PUBLIC SERVANTS SHOULD NOT MAKE BUSINESS DECISIONS FOR THE PRIVATE SECTOR.
+ BUSINESSMEN EITHER MAKE A PROFIT OR LOSS BASED ON THEIR JUDGEMENT AND DECISIONS. AS A RESULT, PEOPLR ARE HIGHLY MOTIVATED BECAUSE THEY HAVE A HIGH DEGREE OF FREEDOM AND UNRESTRICTED OPPORTUNITIES TO PURSUE THE GOAL OF INDIVIDUAL BETTERMENT AND ACCUMULATION OF WEALTH, + MR YAXLEY SAID.
HE POINTED OUT THAT IT WOULD NOT BE FAIR TO GIVE THE IMPRESSION THE HONG KONG GOVERNMENT WAS A NON-CARING GOVERNMENT BECAUSE IT DID NOT INVOLVE ITSELF IN DIRECTING OR INFLUENCING BUSINESS DECISIONS. IT IS PRECISELY BECAUSE IT IS A CARING AND RESPONSIBLE GOVERNMENT THAT IT IS PURSUING ITS HANDS-OFF POLICY.+
HOWEVER, MR YAXLEY POINTED OUT THAT THERE WAS A NEED TO BALANCE THIS PHILOSOPHY WITH THE INTERESTS OF INDIVIDUALS WITHIN THE COMMUNITY AND WITH ENTERPRENEURS. +THE ECONOMY, THOUGH AUTONOMOUS IS IN NEED OF GOVERNMENT INVLOVEMENT TO MAINTAIN A FAVOURABLE ENVIRONMENT.
+ BASICALLY THEREFORE WE AIM TO PROVIDE THE NECESSARY FACILITIES, THE NECESSARY INFRASTRUCTURE WITHIN WHICH THE BUSINESS COMMUNITY AND THEREFORE INDIVIDUALS CAN PROSPER.
+ AT THE SAME TIME LET ME ADD THAT THE GOVERNMENT IN ITS SOCIAL POLICIES AND PROGRAMME ACCEPTS ITS RESPONSIBILITIES TOWARDS THOSE MEMBERS OF OUR COMMUNITY WHO ARE DISADVANTAGED THROUGH NO FAULT OF THEIR OWN, + HE ADDED.
MR YAXLEY STRESSED THAT HONG KONG'S SYSTEM WHICH HAD GROWN UP OVER THE YEARS AS A NATURAL RESPONSE WAS NOT STATIC, BUT EVOLVED TO MEET NEW CIRCUMSTANCES.
+FOR EXAMPLE WE ARE ACUTELY AWARE OF THE NEED TO DIVERSIFY OUR ECONOMY NOT ONLY IN TERMS OF THE GOODS WE PRODUCE BUT ALSO INTO NEW NON-MANUFACTURING ACTIVITIES.
+ THUS THE SERVICES SECTOR OF OUR ECONOMY HAS EXPANDED IN RECENT YEARS FOLLOWING THE GENERAL TREND IN DEVELOPED AND DEVELOPING ECONOMIES. BUT WE HAVE FORCED NO ONE TO STOP MAKING PLASTIC FLOWERS AND BECOME A BANKER, FREE ECONOMIC FORCES HAVE DICTATED THE CHANGE.
+HONG KONG PHILOSOPHY OF NON-INTERFERENCE IS NOT NECESSARILY UNIVERSALLY APPLICABLE. IT IS, I BELIEVE, ENTIRELY APPROPRIATE FOR HONG KONG CIRCUMSTANCES, MR YAXLEY SAID.
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