XN000022-1991-10-18 — Page 3

FRIDAY, OCTOBER 18, 1991

SAID THE WERE

TURNING ΤΟ THE TRENDS IN WORLD ECONOMY, MR MACLEOD GENERAL VIEWS EMERGING AT THE IMF/WORLD BANK 1991 ANNUAL MEETING THAT THE WORLD ECONOMY AND TRADE WOULD PICK UP IN 1992.

"THESE TRENDS ARE HELPFUL FOR HONG KONG," MR MACLEOD SAID.

L

FROM THE EMERGING "LATIN AMERICA

COMING BACK AND IT 15 IS

QUITE CREDIT CRISIS. PLACES LIKE MEXICO, CHILE AND VENEZUELA ARE NOW

DIRECTION AND ARE STRONG ECONOMIES.

ARE MOVING IN A LIBERAL THEY

SOME ATTENTION FROM US, OPENING UP THEIR MARKETS. THEY DESERVF MR MACLEOD SAID.

AS REGARDS THE SOVIET UNION, THE FINANCIAL SECRETARY WAS IN A VERY BAD STAGE ECONOMICALLY AND FINANCIALLY. "THERE TRADE OPPORTUNITIES THERE BUT INVESTMENT IS RATHER ADDED.

**

SAID IT MAY BR DIFFICULT, HE

COMMERCIAL

THE SHORTAGE OF MONEY FOR THE "CREDIT CRUNCH' ON BANKS TO LEND, MR MACLEOD SAID THE MESSAGE HE GOT WAS THAT AS LONG A BORROWER REMAINED COMPETENT AND CREDIT-WORTHY, EFFICIENT AND WITH GOOD PROJECT THERE WERE CERTAINLY FUNDS AVAILABLE.

TURNING TO INFLATION, MR MACLEOD SAID HIGH PROPERTY PRICE CLEARLY A KEY AREA OF CONCERN

HE POINTED OUT THAT THE GOVERNMENT WAS CONSIDERING IF FURTHER COULD BE DONE TO RELIEVE THE SITUATION,

AS A

WAS

ANYTHING

INFLATION 'OVERING THE SUBJECT OF MR MACLEOD SAL HE WOULD BE

OUNCIL ON NOVEMBER 6. IN SOME DEPTH AT THE MEETING OF THE LEGISLATIVE

1

HOWEVER, HE SAID ONË SHOULD NOT EXPECT THE GOVERNMENT TO UP WITH A WHOLE PACKAGE OF PROPOSALS AT THAT MEETING.

COME

HE POINTED OUT THAT SOME OF THE PRESSURES THAT LED TO INFLATION WERE BEYOND HUMAN INTERVENTION

"BUT I AM NOT SAYING THAT THERE IS NOTHING WE CAN DO. THERE ARE QUITE SEVERE LIMITATIONS ON HOW MUCH WE CAN BRING DOWN IN THE SHORT AND MEDIUM TERMS, MR MACLEOD SAID.

·

CLEARLY INFLATION

STATEMENT ON VM'S

THE FOLLOWING STATEMENT ON VIETNAMESE MIGRANTS WAS MADE BY SECRETARY FOR SECURITY, MR ALISTAIR ASPREY, TODAY (FRIDAY):

THE

"WHAT WE ARE SEEKING IS THE REINSTATEMENT OF NORMAL IMMIGRATION MEANS ARRANGEMENTS ARRANGEMENTS BETWEEN HONG KONG AND VIETNAM. THIS FOR THE RETURN OF ALL NON-REFUGEE ILLEGAL IMMIGRANTS FROM HONG KONG TO VIETNAM. PUT ANOTHER WAY, IT MEANS THE FULI. COMPREHENSIVE PLAN OF ACTION.

IMPLEMENTATION OF THE

"I WANT