XN000022-1991-03-21 — Page 6

THURSDAY, MARCH 21, 1991

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HONG KONG HAS LEADING GLOBAL AND REGIONAL ROLE

*

GLOBAL MR

BOTH REGIONAL AND HONG KONG HAS AN IMPORTANT ROLE IN BUSINESS, THE DIRECTOR OF THE HONG KONG BCONOMIC AND TRADE OFFICE, PETER JOHNSON SAID IN HOUSTON, TEXAS, YESTERDAY (WEDNESDAY).

MR JOHNSON ADDRESSING A LUNCHEON MEETING OF THE ASIA SOCIETY,

BETWEEN ASIA AND THE U.8. SAID WHILE STRONG TIES AND DEPENDENCIES REMAIN, INTRA-ASIA COMMERCE IS INCREASING.

BETWEEN

30 AND 40

PER CENT OF

"

ASIAN HE TOLD

"AT THE LAST COUNT, EXPORTS WERE DESTINED FOR OTHER COUNTRIES WITHIN THE REGION, AN AUDIENCE OF BUSINESS EXECUTIVES.

KONG'S CASE

THE

PROPORTION

DUE

MUCH IS

HIGHER, "IN HONG

AND TO THE LARGELY TO SUBSTANTIAL INCREASES IN OUR TRADE WITH CHINA

TERRITORY'S BEHALF IN SOUTHERN GROWTH OF OUTWARD PROCESSING ON THE CHINA.

OF INVESTMENT

IN

IN TERMS A CONTINUING KONG'S POINT

ACKNOWLEDGING THAT JAPAN IS FAR OUTSPENDING THE U.S.

THAT JOHNSON EXPRESSED MR ASIA, INCREASING U.S. PRESENCE IN ASIA IS DESIRABLE FROM HONG OF VIEW.

OF

THAT THERE IS AN ENORMOUS RESERVOIR "I FIRMLY BELIEVE

AN INCREASING U.S. PRESENCE GOODWILL IN HONG KONG TOWARDS THE U.S.,

GLOBAL SERVES AS EVIDENCE THAT U.S. BUSINESS IS STILL COMMITTED ON A

THAT BASIS AND IS NOT WITHDRAWING TO A 'FORTRESS AMERICA': SOMETHING

THE OF EXPANSION

FTA TO GIVEN THE PROPOSED MAY BE A TEMPTATION

THE URUGUAY ROUND INCLUDE MEXICO, THE AS-YET UNRESOLVED PROBLEMS OF

THE SOVIET UNION AND EASTERN AND A LESSENING OF EUROPE," MR JOHNSON SAID.

IN

EXPECTATIONS

HE POINTED OUT THAT CURRENTLY THE U.S. IS THE LARGEST

INDUSTRY, MANUFACTURING INVESTOR IN HONG KONG'S * LARGEST INVESTOR OVERALL.

OVERSEAS

AND POSSIBLY THE

||

"U.S. FIRMS PROVIDE STRENGTH AND JOHNSON ADDED,

SUPPORT IN MANY

WAYS,

MR

TURNING TO THE ECONOMY, MR JOHNSON SAID CONTINUES TO PROSPER.

INTERNALLY HONG KONG

IN OTHER "IN 1990 REAL GDP GROWTH WAS 2.4 PER CENT, LESS THAN

MOST. THE FORECAST FOR RECENT YEARS, BUT A BETTER PERFORMANCE THAN

ΤΟ BE US$13,400 THIS YEAR IS 3.5 PER CENT. GDP PER HEAD IS FORECAST IN 1991.

OF

THIS THE EUROPEAN COMMUNITY "IF HONG KONG WERE A MEMBER

TO OVERTAKE THEM WOULD PUT US IMMEDIATELY BEHIND THE UK, AND POISED

MR JOHNSON CONCLUDED. WITHIN THE NOT-TOO-DISTANT FUTURE,

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