XN000022-1980-07-16 — Page 19

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"Social Development in Times of Economic Uncertainty", the

theme of your conference, is clearly most apt. It is particularly so against the backdrop of Hong Kong where the economy is so largely

influenced by external forces quite beyond its control.

Of course,

we are all living in a period of great uncertainty, characterised by the spectre of escaleting oil prices, the threat of economic recession,

political unrest in many parts of the world and

words to the contrary.

in spite of fine

increasingly restrictive trade attitudes

and practices adopted by many major industrialised countries.

These uncertainties make forward-planning, whether economic

or social, a hazardous exercise at best, and more so in the case of territories like this one: for in Hong Kong we must rely on the export

of goods to earn our living.

Hong Kong has no "natural resources", apart from a well- situated harbour and, importantly, an industrious and versatile work- force. However, very good use has been made of these resources, and we have enjoyed rapid economic growth over the last few years. not always thus. We have had more than our fair share of pressures

It was

/and disasters

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