SATURDAY, JUNE 17, 1989
HONG KONG'S RESILIENCE IS LEGENDARY DIRECTOR, SAN FRANCISCO
BEHIND THE DEEP CONCERN ABOUT EVENTS BUSINESS AS USUAL IN HONG KONG, DIRECTOR OF SAN FRANCISCO, PETER AND TRADE OFFICE IN
(FRIDAY).
VERY MUCH IN CHINA IT IS
THE HONG KONG ECONOMIC JOHNSON, SAID YESTERDAY
AND MEMBERS
OF
OF
THE
MR JOHNSON WAS ADDRESSING BUSINESS EXECUTIVES
CAPITAL CITY THE HK-CANADA BUSINESS ASSOCIATION IN EDMONTON, THE
A SEMINAR ALBERTA, DURING
ON HONG
TRADE AND KONG'S
INVESTMENT MISSION BY THE ASSOCIATION ΤΟ OPPORTUNITIES PRIOR TO A TRADE TERRITORY SCHEDULED FOR LATER THIS YEAR.
SPEECH,
KEYNOTE IN HIS LUNCHTIME
MR JOHNSON REASSURED HIS MOST PLACES, HAS SURVIVED MORE AUDIENCE THAT HONG KONG, MORE THAN
KONG'S RESILIENCE THAN ITS FAIR SHARE OF CRISES OVER THE YEARS, HONG IS LEGENDARY, HE SAID.
ONE OF
AT
AN
PER CENT
"HONG KONG REMAINS A VIBRANT, SUCCESSFUL COMMUNITY AND THE SUCCESS STORIES OF THE PAST 30-40 YEARS. IN 1967 OUR GDP STOOD US$46 BILLION. THIS REPRESENTED US$2.5 BILLION. IN 1987 IT WAS INCREASE OF OVER 20 TIMES IN 20 YEARS, A REAL GROWTH OF 8.5 PER ANNUM,
EVEN MORE
DRAMATIC.
IN "GROWTH IN TRADE HAS BEEN
1967 OUR IN 1988 IT WAS WORTH TOTAL ANNUAL TRADE WAS WORTH US$3.3 BILLION.
GDP. AND REPRESENTS AN US$127 BILLION. THIS IS MORE THAN TWICE OUR
PER CENT INCREASE OF 38 TIMES IN 21 YEARS, OR GROWTH OF MORE THAN 12 PER ANNUM.
TT
CASE
HE POINTED OUT THAT THIS DOUBLE DIGIT GROWTH WOULD IN ANY
PROBLEMS HAD IT HAVE BEEN UNSUSTAINABLE AND WOULD HAVE CAUSED GRAVE CONTINUED FOR MUCH LONGER.
NOT UNWELCOME AT
THIS GIVEN ΤΟ COOL
"SOMETHING OF A BREATHER IS THEREFORE POINT IN TIME, AND WOULD ALMOST CERTAINLY HAVE OCCURRED ANYWAY, THE MEASURES THAT THE CHINESE GOVERNMENT WERE ALREADY TAKING DOWN THEIR OVERHEATED ECONOMY.
"
OF ONE OF THE MORE REMARKABLE EFFECTS ON HONG KONG AS A RESULT
LAST FEW WEEKS RECENT EVENTS IN CHINA HAS BEEN THE WAY IN WHICH THE
OF BASIC HAVE SEEN A COMING TOGETHER OF HONG KONG PEOPLE ON A NUMBER ISSUES CONCERNING THEIR FUTURE. MR JOHNSON SAID.
THE
NEED TO
ONCE THE
"THERE IS, FOR EXAMPLE, A GROWING APPRECIATION OF THE
CONCENSUS ON THE FORGE A
KEY ELEMENTS OF
LAW, BASIC TO PROTECT THE FREEDOMS WHICH CONSULTATION RESUMES, IN ORDER COMMUNITY CURRENTLY ENJOY AGAINST THE ARBITRARY EXERCISE OF POWER.
"THIS WILL ALMOST
PROGRESS TOWARDS A
CERTAINLY LEAD MORE DEMOCRATIC
KONG AFFAIRS."
TO REQUESTS FOR SPEEDIER FORM OF GOVERNMENT,
STRENGTHENED PROTECTION AGAINST DIRECT MAINLAND PARTICIPATION IN
AND
HONG
/MR JOHNSON