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2
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THURSDAY, MAY 30, 1991
THEIR
MAINTAIN
TO KEEP THEIR
"THUS THE ASIAN NIE'S NEED TO CONTINUALLY STRIVE ΤΟ EXPORT GROWTH AND TO ATTRACT INVESTMENTS COMPETITIVE EDGE, MR MACLEOD SAID.
TT
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NIB'S.
"DOMESTIC CHALLENGES ARE ALSO OF CONCERN TO THE ASIAN FOR EXAMPLE, RISING INFLATION AND LABOUR SHORTAGE ARE TWO COMMON PROBLEMS THAT, UNLESS KEPT WITHIN REASONABLE BOUNDS, WILL AFFECT THEIR ROLE IN
ECONOMY AND THREATEN THEIR LONG-TERM COMPETITIVENESS. HE NOTED.
11
THE
WORLD
ON HONG KONG'S ECONOMIC DEvelopment, HE SAID HONG KONG WAS PARTICULARLY SUSCEPTIBLE TO EXTERNAL INFLUENCES.
HE CITED AS EXAMPLE THE POSSIBILITY OF LOSS OF CHINA'S MOST FAVOURED NATION STATUS IN THE USA, AND THE ADVERSE EFFECT ON HONG KONG IF THIS HAPPENED.
"SOMETIMES EXTERNAL FACTORS ARE OPPORTUNITIES UPON WHICH WE CAN BUILD OUR ECONOMY; AT OTHER TIMES, THEY ARE CHALLENGES THAT THREATENED OUR COMPETITIVENESS.
"OUR
THE AS
ECONOMY'S DEPENDENCE ON EXTERNAL TRADE WILL CONTINUE FORESEEABLE FUTURE, HENCE EXTERNAL INFLUENCES, WHETHER PERCEIVED OPPORTUNITIES OR CHALLENGES, WILL CONTINUE TO BE MAJOR ON HONG KONG," MR MACLEOD SAID.
FOR
INFLUENCES
LONG-TERM ΤΟ PROMOTE
TO COMBAT PROTECTIONISM, TO MAINTAIN THE COMPETITIVENESS OF HONG KONG'S MANUFACTURING SECTOR AND OVERSEAS INVESTMENT IN HONG KONG ARE THE THREE MAJOR TASKS THAT THE GOVERNMENT WAS TACKLING, HE SAID.
HE POINTED OUT THAT HONG KONG'S PRIMARY OBJECTIVE WAS TO SECURE AND MAINTAIN MAXIMUM MARKET ACCESS FOR ITS EXPORTS, ADDING THAT HONG KONG HAD BEEN ACTIVELY INVOLVED IN KEY GENERAL AGREEMENT ON TARIFFS AND TRADE (THE GATT) NEGOTIATING GROUPS DURING THE URUGUAY ROUND OF TRADE TALKS.
"SINCE THE RESUMPTION OF THE TALKS EARLY THIS YEAR, WE HAVE BEEN WORKING HARD IN THE HOPE THAT THE TEXTILE TRADE CAN BE INCORPORATED INTO THE TERMS OF THE GATT, THUS ULTIMATELY REPLACING THE EXISTING MULTI-FIBRE AGREEMENT.
tt WE
ARE ALSO INCREASINGLY AWARE THAT ANTI-DUMPING CHARGES CAN BE TURNED INTO A PROTECTIONIST TOOL. TO AVOID THIS, WE ARE EAGER TO SEE THE PROVISIONS OF THE GATT ANTI-DUMPING CODE BEING TIGHTENED UP AND IMPROVED.
ON MAINTAINING THE LONG-TERM COMPETITIVENESS OF HONG KONG'S MANUFACTURING SECTOR, MR MACLEOD SAID OUTWARD PROCESSING ACTIVITIES HAD RESULTED IN A STEADY TECHNOLOGICAL UPGRADING OF HONG KONG'S MANUFCTURING BASE LOCALLY, WHICH WAS ESSENTIAL TO THE COMPETITIVENESS OF HONG KONG'S MANUFACTURING INDUSTRIES IN THE LONG RUN.
HONG
"TO
FACILITATE THIS PROCESS, THE GOVERNMENT HAS SET UP A KONG INDUSTRIAL TECHNOLOGY CENTRE COMPANY TO ESTABLISH A TECHNOLOGY CENTRE IN 1993.
"THIS TECHNOLOGY