XN000022-1978-03-29 — Page 13

WEDNESDAY, MARCH 29, 1978

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GOVERNMENT URGED TO STEP UP EFFORTS TO

HELP HONG KONG COMPETE WITH INDUSTRIAL COUNTRIES

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UNOFFICIAL LEGISLATIVE COUNCILLOR, THE HON. JAMES WU, TODAY CALLED ON THE GOVERNMENT TO STEP UP ITS EFFORTS TO HELP HONG KONG COMPETE WITH OTHER INDUSTRIAL COUNTRIES.

SPEAKING IN THE RESUMED BUDGET DEBATE, MR. WU SAID +A CORRECT ASSESSMENT OF THE SITUATION AVE THE WILL AND MEANS TO TACKLE IT+ WERE NECESSARY IF HONG KONG WAS TO MAINTAIN A. DESIRED GDP GROWTH RATE.

+A GREAT DEAL MORE INPUT, INCLUDING A CHANGING ATTITUDE, WOULD HAVE TO COME FROM GOVERNMENT,+ MR. WU STRESSED.

CITING JAPAN AS AN EXAMPLE, MR. U SAID JAPAN FOR SOME TIME FLOURISHED IN LIGHT INDUSTRIES FOR CONSUMER GOODS IN TEXTILES AND GARMENTS, TOYS AND METAL WARE, BUT WITH MASSIVE INVESTMENT FROM GIANT BANKS AND TRADING HOUSES AND GOVERNMENT ASSISTANCE, THEY BEGAN TO RE-DEVELOP NOT SO LONG AGO THEIR HEAVIER AND MORE SOPHISTICATED INDUSTRIES IN THE FIELD OF AUTOMOBILES, ELECTRICAL APPARATUS AND APPLIANCES, CHINERY, PETRO-CHEMICALS, STEEL AND SHIP-BUILDING.

MR. WU ADDED THIS ENAELED JAPAN TC TRADE-UP OR EXPAND INTO MORE SOPHISTICATED FIELDS EMPLOYING HIGHER TECHNOLOGY WHEN THE IR LABOUR INTENSIVE INDUSTRIES OR MARGINAL TECHNOLOGY WERE THREATENED BY COMPETITION FROM LOVER-COST REGIONS.

+THAT THEY HAVE BEEN ABLE IN A MATTER OF 20 TO 30 YEARS TO REBUILD FROM RUINS AND TO DEAT THE AUSPICANS AND EUROPEANS AT THEIR OWN GAME IN THE ELECTRONICS, IRON AND STEEL, AUTOMOBILES AND PETRO-CHEMICAL INDUSTRIES 13 A GREAT TRIBUTE TO THEIR POLICIES AND EFFORTS, WITH GOVERNMENT AND BUSINESS WORKING IN A CONCERTED MANNER AS ONE 'JAPAN INC.',+ MR. WU SAID.

REFERRING TO HONG KONG, MR. WU SAID IN THE LAST 20 TO 30 YEARS WE HAVE DEVELOPED OUR OWN LIGHT INDUSTRIES TO THE EXTENT THAT WE HAVE BEEN QUITE SUCCESSFUL IN COMPETING WITH JAPAN TAKING OVER THE LEADERSHIP IN GATIENTS, TOYS AND SIMPLER ELECTRONICS.

SOUTH KOREA AND TAIWAN BOTH CLOSELY FOLLOWING THE DEVELOPMENT PATTERNS AND METHODS OF JAPAN HAVE SCORED GREAT SUCCESSES IN A WIDE INDUSTRIAL SPECTRUM. P. WU NOTED. +OESERVERS ARE LIKENING IT TO THE STATE OF JAPANESE DEVELOPMENT SOME 15 TO 20 YEARS AGO,+ MF. „U SAID,

J

+AT OUR PRESENT STAGE OF DEVELOPME: T, AND WITH LITTLE NEW INDUSTRIES AND FOREIGN INVESTIE TS, THE GROWTH WILL BE FAR SHORT OF THE MAGKITUDE NE ARE USED TO KNO IF LEFT BY

ITSELF WITHOUT MASSIVE EFFORTS AND I PUT FROM BOTH THE PUBLIC AND PRIVATE SECTORS,+ HE HE..

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/R. YU ALSO