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The
non
-Chinese entrepét de would be
definitely hindered, although the damage might be
mitigated if a part of the harbour could be set aside as
a free port.
7.
The economic advantages to be gained from a
Customs union consist, therefore, in the benefits in
respect of the Chinese coastal trade and Hong Kong's dauert's
manufactures. The first could probably be secured
without find come union
almost as fully by an agreement with the Chinese
Government to allow Chinese goods to retain their national
status when shipped via Hong Kong. The other is
without cas Come unim unlikely to be obtained by any special agreement, because such an agreement
i
would arouse strong opposition by other foreign
countries, particularly the Japanese, who could probably
prevent it by the invocation of most-favoured-nation
rights, and probably equally firm opposition from
Bub Chinese manufacturers in Shanghai and South China. this a full Custome union would
vse oppraition opposition would, however, be aroused no less by a full from exactly the same quarters, sitio in fact Customs union and might well be politieally strong-
table that itwouth.
Can Cas coms union -enough to prevent it.-agreement could be conclud
infa
of such oppositio.
8.
On the other hand there are two important dis-
advantages in a Customs union: first, the loss of the
which might involve great
Free Port status, particularly the damage to the non-
Chinese entrepôt trade; and second, the inevitable increase
in the cost of imported goods which must result from the
application of the Chinese tariff to Hong Kong's own
imports. It must be remembered that three quarters of
these imports come from foreign countries and they consist
some of which can be produced in thing largely of foodstuffs and necessaries,
There must,
therefore, be some increase in the cost of living.
might have various repercussions.
That
It would do something
to
5-
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