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SATURDAY, NOVEMBER 7, 1992
WHETHER WE SUCCEED, HOWEVER, WILL DEPEND NOT ONLY OR PRINCIPALLY ON GOVERNMENTS OR INTERNATIONAL ORGANISATIONS, BUT ON INDIVIDUAL BEHAVIOUR AND ON THE WAY OUR ECONOMIRS GROW AND DEVELOP. I DON'T BELIEVE FOR ONE MOMENT THAT WE CAN LEAVE EVERYTHING ΤΟ REGULATION. IF WE COULD, EASTERN AND CENTRAL EUROPE WHICH DAVID WAS TALKING ABOUT A FEW MOMENTS AGO, WOULD BE AN ENVIRONMENTAL PARADISE, NOT,
AS IS ALAS THE CASE, AN ENVIRONMENTAL WASTELAND. NOR, ON THE OTHER HAND, CAN WE LEAVE EVERYTHING TO MARKET FORCES. WHAT WE NEED IS A JUDICIOUS COMBINATION OF MARKET FORCES AND REGULATION. I'M CONVINCED THAT WE WILL MAKE THE BEST PROGRESS WORKING WITH MARKET FORCES, NOT LEAST WORKING WITH THE PRICE MECHANISM, AS WE'RE SEEKING TO DO IN CLEANING UP OUR WATER HERE IN HONG KONG, RATHER THAN WORKING AGAINST MARKET FORCES. AND IF ANYBODY DOESN'T THINK THAT USING THE PRICE MECHANISM MAKES SENSE NOT ONLY ENVIRONMENTALLY BUT ALSO AS GOOD ECONOMICS, THEY SHOULD, FOR EXAMPLE, JUST CONSIDER THE PRICE OF PETROL IN THE UNITED STATES.
MORE AND MORE, BUSINESS LEADERS LIKE YOU HAVE COME TO RECOGNISE THAT BEING ENVIRONMENTALLY FRIENDLY IS NOT ONLY GOOD IN ITSELF BUT ALSO THE BEST WAY OF DOING BUSINESS. IT'S NOW A TRUISM TO SAY THAT SINCE THE INDUSTRIAL REVOLUTION, AN AWFUL LOT OF PEOPLE HAVE MADE AN AWFUL LOT OF MONEY BY MAKING THE WORLD A MUCH DIRTIER PLACE. IT'S EQUALLY TRUE TODAY AN EXAMPLE THAT CLICHES ARE SOMETIMES WORTH HAVING - THAT A LOT OF PEOPLE WILL MAKE A LOT OF MONEY CLEANING UP OUR WORLD. I'M ESPECIALLY KEEN TO WORK WITH BUSINESS IN HONG KONG IN DEVELOPING ENVIRONMENTAL TECHNOLOGY TO DO PRECISELY THAT. IN THAT IN
WAY,
HONG KONG WILL BE ABLE TO EARN A PLACE IN THE FIRST-DIVISION THIS SECTOR AS IT HAS DONE IN SO MANY OTHER AREAS.
YOU ALL KNOW THAT HONG KONG IS AN ASTONISHING EXAMPLE OF A MARKET ECONOMY WORKING IN THE INTERESTS OF THE WHOLE COMMUNITY, A MARKET ECONOMY THAT HAS GENERATED THE WEALTH THAT WE NEED TO PAY FOR OUR IMPRESSIVE HEALTH, EDUCATION, AND WELFARE PROGRAMMES. IT'S BY HARNESSING THOSE SAME MARKET FORCES, NOT BY SNUFFING THEM OUT, THAT WE SHALL BE ABLE TO GENERATE THE WEALTH WE NEED TO PAY FOR THE BEST STANDARDS OF ENVIRONMENTAL PROTECTION. I LOOK FORWARD TO US DOING THAT IN THE NEXT FEW YEARS. I LOOK FORWARD TO US DOING THAT WITH OUR FRIENDS AND COLLEAGUES IN CHINA. I LOOK FORWARD TO US GIVING AN EXAMPLE, GIVING LESSONS IN THE ENVIRONMENTAL FIELD AS WE HAVE DONE IN SO MANY OTHERS, AND IN THAT WAY WE CAN CERTAINLY DISCHARGE OUR RESPONSIBILITIES TO THE FUTURE, AS WELL AS OUR RESPONSIBILITIES TO THE
FRESENT.
LONG AND
THANK YOU VERY MUCH INDEED. THE LAST TIME I CAME TO THIS GREAT HALL WAS FOR A SQUASH CHAMPIONSHIP. SQUASH WOULD BE SLIGHTLY BEYOND ME TODAY, AS YOU WILL SEE WHEN I BEGIN THE HAZARDOUS TRIP BACK TO MY SEAT, BUT I HOPE THAT AT HASN'T BEEN AFFECTED BY MY TENNIS.
LEAST
SPEAKING
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