XN000022-1978-03-29 — Page 15

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WEDNESDAY, MARCH 29, 1978

MR. WU ALSO NOTED THAT THE FINANCIAL SECRETARY HAD INDICATED THAT IN THE 1970'S OUR TERTIARY OR SERVICE INDUSTRIES HAD BEGUN TO GROW IN RELATIVE IMPORTANCE WHILE OUR MANUFACTURING INDUSTRIES HAD DECLINED IN IMPORTANCE.

BUT MR. WU SAID THAT CONSIDERING THE NATURE OF THESE SERVICE INDUSTRIES, IT IS DIFFICULT TO VISUALISE THAT THEY TOGETHER COULD BECOME NET CONTRIBUTORS TO OUR BALANCE OF PAYMENTS AND THEREFORE BE SELF-SUSTAINING.+

+OUR MIND WILL THEREFORE NOT BE AT EASE UNTIL IT HAS BEEN PROVEN CONCLUSIVELY THAT OUR TERTIARY OR SERVICE INDUSTRIES AS SUCH ARE NET CONTRIBUTORS TO OUR EALANCE OF PAYMENTS. HOWEVER DIFFICULT IT MIGHT BE FOR SUCH PROOF TO BE ESTABLISHED. +

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