38
WEDNESDAY, JULY 8, 1992
ECONOMIST'
'HONG KONG IS WELL PLACED TO BENEFIT FROM WHAT 'THE RECENTLY CALLED THE MOST RAPID INDUSTRIAL REVOLUTION THE WORLD EVER SEEN.
+
HAS
"AS A RECENT OECD'S REPORT PUTS IT, THE FOCUS OF WORLD ECONOMIC POWER WILL SHIFT INEXORABLY AWAY FROM WESTERN EUROPE AND NORTH AMERICA TOWARDS THE FAR EAST OVER THE NEXT HALF CENTURY.
ABOUT ONE "AT THE MOMENT THE ASIA-PACIFIC REGION ACCOUNTS FOR QUARTER OF WORLD OUTPUT. BY 2010 IT WILL BE ONE-THIRD AND ON ONE THE OECD PROJECTION WILL BE HALF BY 2040. THIS WOULD PUT EAST ASIA IN SAME DOMINANT POSITION AS THE USA AT THE END OF THE SECOND WORLD WAR, HE SAID.
"
THAT
AGAINST THIS BACKGROUND OF A RAPIDLY EXPANDING ASIA-PACIFIC ECONOMY, AN ECONOMY WHICH IN A DECADE OR SO WOULD BE LARGER THAN OF EUROPE OR NORTH AMERICA.
MR YAXLEY SAID HE BELIEVED THAT THERE WERE GREAT OPPORTUNITIES FOR
WHICH BRITISH BUSINESSMEN. HONG KONG WAS THE BEST BASE FROM GRASP THEM.
ΤΟ
"AS I HAVE ALREADY SAID, WE BELIEVE THAT WE ARE ONLY JUST BEGINNING TO SEE THE FULL IMPLICATIONS OF THE FACT THAT THE ECONOMIES OF THE ASIA-PACIFIC REGION ARE LIKELY TO ACHIEVE GROWTH RATES DOUBLE THOSE
THE OF
OVER EUROPE AND NORTH AMERICA, OR EVEN THOSE OF JAPAN NEXT DECADE.
IN
"IT IS BECAUSE WE HAVE THIS BELIEF THAT WE ARE PLANNING THIS MASSIVE INVESTMENT IN OUR NEW AIRPORT. HONG KONG'S PARTICIPATION THIS RAPID EXPANSION AND, INDEED, THAT OF CHINA'S WOULD BE ADVERSELY AFFECTED IF WE HAD NOT DECIDED TO PROCEED WITH 10
POUND BILLION STERLING WORTH OF NEW INVESTMENT IN OUR NEW AIRPORT,' HE CONCLUDED.
PI
MARINE DEPT TO GO HI-TECH
INVEST THE MARINE DEPARTMENT MUST
IN INFORMATION
NOW IN ORDER TO COPE WITH RAPID GROWTH OF PORT TRAFFIC.
OF
MR MARINE, THIS WAS STATED BY THE DIRECTOR TODAY (WEDNESDAY) WHEN ADDRESSING A LUNCHEON MEETING OF THE OF CHARTERED SHIPBROKERS.
TECHNOLOGY
TONY
MILLER, INSTITUTE
MR MILLER SAID CURRENT FORECASTS HONG KONG WILL TREBLE BY 2006,
SHOWED
TOTAL
CARGO
THROUGH
PORT FORMALITIES ARE
EXISTING SYSTEM CAN
LABOUR
MR MILLER SAID: "AT THE MOMENT, AND PAPER INTENSIVE. EXISTING RESOURCES AND THE JUST ABOUT COPE WITH PRESENT DEMAND."
/IN THE
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