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WEDNESDAY, OCTOBER 14, 1992
SECONDLY, YOU'LL FIND US ARGUING PASSIONATELY TO AVOID TRADE FRICTIONS AND TRADE WARS, NOT LEAST, IF I MAY SAY SO, BETWEEN THE UNITED STATES AND CHINA. I WAS AS DELIGHTED AS VICTOR
AT THE SUCCESSFUL OUTCOME OF THE 301 TALKS. I HOPE THAT NEXT YEAR, FOR ONCE AND FOR ALL, WE CAN PUT BEHIND US THE ANNUAL ARGUMENTS ABOUT MFN, BECAUSE ALL OF US KNOW THAT FREE TRADE IS ON THE SIDE OF ECONOMIC PROGRESS, AND THAT TRADE WARS DESTROY GROWTH, DESTROY JOBS, PUT UP PRICES, AND ABORT PROGRESS SOCIAL PROGRESS, POLITICAL PROGRESS, ECONOMIC PROGRESS.
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AND THIRDLY, YOU CAN FIND US ALSO, I HOPE, ARGUING THE CASE FOR FREE TRADE IN EUROPE AS WELL. I BELIEVE VERY STRONGLY THAT THERE ARE MANY ISSUES IN EUROPE WHICH CAN BEST BE SERVED AT THE COMMUNITY LEVEL. I BELIEVE VERY STRONGLY THAT IT'S IMPERATIVE THAT WE COMPLETE THE SINGLE MARKET, THAT WE OPEN UP EUROPE TO CENTRAL AND EASTERN EUROPEAN COUNTRIES WHICH HAVE RECENTLY DISCOVERED DEMOCRACY THE MOST PAINFUL AND HARD WAY. BUT I DO THINK THAT THERE IS A DANGER IN EUROPE WHICH WE NEED TO BE AWARE OF, AND THE DANGER IS SIMPLY THIS: THE FEELING WHICH MANY POPULIST EUROPEAN POLITICIANS HAVE, THAT BECAUSE OF THE DIFFICULTIES OF COMPETITION, NOT LEAST FROM SUCCESSFUL ASIAN ECONOMIES, THE ONLY WAY THAT EUROPE CAN SAVE AND PROTECT ITS WELFARE SERVICES IS BY SHUTTING OUT COMPETITION FROM ASIA. IN MY VIEW THAT WOULD BE A CERTAIN ROUTE, IN EUROPE, NOT ONLY то THE MEANEST, NASTIEST, PROTECTIONIST POLITICS, BUT ALSO TO UNDERMINING EUROPE'S STANDARD OF LIVING, AND ULTIMATELY UNDERMINING ITS WELFARE SERVICES AS WELL. PROTECTIONISM ISN'T JUSTIFIED, WHATEVER THE ARGUMENTS THAT ARE PUT FOR IT, AND WELFARE PROTECTIONISM IS NO MORE JUSTIFIED THAN ANY OTHER SORT.
IN COMMUNITY AFTER COMMUNITY IN ASIA
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ONE AND THIS IS OF THEM, WHICH I'M LEARNING TO LOVE WE'VE DEMONSTRATED THAT IT IS POSSIBLE TO BELIEVE IN OPEN MARKETS AND FREE TRADE, AND ON THE BACK OF THAT, ΤΟ IMPROVE THE COLLECTIVE COMMUNITY STANDARDS OF ORDINARY PEOPLE, TO INCREASE NOT ONLY THEIR INDIVIDUAL PROSPERITY BUT TO IMPROVE THEIR QUALITY OF LIFE AS WELL. I THINK THAT IF THERE IS LESSON WHICH HONG KONG HAS FOR THE WORLD, IT'S THAT, AND IT'S LESSON WHICH I'M VERY PROUD TO BE IN A POSITION TO PUT TO YOU EVENING, ALBEIT AT THE EXPENSE OF YOUR FIRST COURSE."
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