4
FRIDAY, OCTOBER 9, 1992
THANK
HEAVENS,
BECAUSE OF YOUR INVESTMENTS AND EXPANSION INTO THE MAINLAND, OUR EXPORT PRICES ARE ONLY GOING UP MARGINALLY. SO WE ARE REMAINING COMPETITIVE, THANKS TO YOUR EFFORTS IN INTERNATIONAL MARKETS. BUT WE DO CONTINUE TO HAVE ΤΟ WORK ON THOSE SUPPLY SIDE ISSUES, ABOVE ALL LABOUR, IN ORDER то FIGHT INFLATION AS VIGOROUSLY AS WE CAN. I REPEAT, THAT I HOPE THAT MY COMMITMENT TO INCREASING RE-TRAINING IN HONG KONG WILL ASSIST IN THAT RESPECT.
FOURTH, THE FOURTH LESSON. WE KNOW, AGAIN PERHAPS BETTER THAN ANYONE ELSE, THAT FREE TRADE IS THE GREATEST FRIEND OF PROGRESS AND ECONOMIC SUCCESS. I WILL, YOU'LL FIND, BE THE MOST VIGOROUS LOBBYIST FOR FREE TRADE, FROM, IF IT'S NECESSARY, WASHINGTON TO WYOMING AND ANYWHERE ELSE AS WELL, I WILL BE THE MOST ACTIVE, PASSIONATE ADVOCATE OF FREE TRADE, I HOPE THAT YOU COULD WANT TO
SEE. I BELIEVE VERY STRONGLY THAT IT IS A TERRIBLE ERROR TO TRY ΤΟ POLITICISE TRADE.
I THINK THAT FREE TRADE IS THE BEST FRIEND OF PROGRESS. I THINK THAT TRADE DISPUTES, TRADE RESTRICTIONS, CUT JOBS, CUT GROWTH, PUT UP PRICES, SO YOU WILL FIND ME TODAY AND FOR THE INDEFINITE FUTURE, ARGUING THAT WE CONTINUE TO SEE FREE TRADE, AND I HOPE, A BENIGN TRADING ENVIRONMENT BETWEEN CHINA AND THE UNITED STATES.
THE
ALL
I JUST WANT, IN ADDITION TO SAYING THAT ABOUT ECONOMIC ISSUES, ABOUT THE REAL WORLD, TO SAY ONE THING ABOUT POLITICS. BECAUSE IT'S UNDOUBTEDLY TRUE THAT ANOTHER OF THE REASONS FOR OUR ECONOMIC SUCCESS HAS BEEN BY AND LARGE POLITICAL STABILITY. ISSUES THAT I ADDRESSED ON WEDNESDAY, RELATING TO POLITICS, WEREN'T RAISED OUT OF THE BLUE BY THE NEW GOVERNOR OF HONG KONG, THEY'RE THERE ALREADY, REQUIRING SOMEBODY TO ADDRESS THEM AND SOMEBODY ΤΟ BRING FORWARD PROPOSALS ABOUT THEM. I'M VERY CLEAR WHAT THE PARAMETERS ARE AND I'VE SET THEM OUT ON A NUMBER OF OCCASIONS IN THE LAST TWO OR THREE DAYS. THE PRESENT SOVEREIGN POWER, THE UNITED KINGDOM, HAS SUGGESTED THAT WE SHOULD TRY TO PRESS FORWARD THE PACE OF DEMOCRATISATION.
THE FUTURE SOVEREIGN POWER, CHINA, HAS MADE
IT CLEAR THAT WHILE DEMOCRATISATION WILL INCREASE UNDER THE TERMS OF THE JOINT DECLARATION AND THE BASIC LAW, ANY DEMOCRATISATION SHOULD BE IN COMPLIANCE WITH THOSE TWO DOCUMENTS. AND WHERE, IN MY JUDGMENT, DO THE PEOPLE OF HONG KONG STAND? MY JUDGMENT, AS I'VE SAID -AND I SHALL LOOK FORWARD TO WHAT THEY HAVE TO SAY IN THE COMING WEEKS AND MONTHS MY JUDGMENT IS THAT PEOPLE, WISELY, WANT RATHER MORE SAY IN THE CONTROL OVER THEIR OWN AFFAIRS, BUT DO WANT IT IN A WAY THAT WILL LAST, AND DO WANT IT THEREFORE IN A WAY WHICH COMPLIES WITH THE BASIC LAW.
THAT'S MY JUDGMENT OF WHERE THE POINT OF BALANCE IN THE COMMUNITY STANDS AT THE MOMENT AND THAT IS, THEREFORE, WHAT I AM GOING TO ATTEMPT TO SECURE. BUT I WANT TO ADD ONE OR TWO POINTS ABOUT THIS ISSUE OF POLITICAL STABILITY.
FIRST, I WANT TO GET THESE ISSUES OUT OF THE WAY AS SOON AS POSSIBLE FOR ONCE AND FOR ALL. I DON'T WANT THEM HANGING AROUND, I DON'T WANT THEM ERODING CONFIDENCE FOR THE NEXT FIVE YEARS. IF
WE'RE GOING TO HAVE A DEBATE, A DISCUSSION, I WANT TO HAVE IT AND I WANT TO PUT IT BEHIND US.
NOW
/SECONDLY, I