XN000022-1992-03-04 — Page 7

WEDNESDAY, MARCH 4, 1992

- 5

"THERE ARE PROTECTIONIST CLOUDS ON THE HORIZON, ALTHOUGH PREPARING THE BUDGET FORECASTS I HAVE ASSUMED THAT WE WILL BE ABLE SUCCESSFULLY DEFEND OUR ACCESS TO EXPORT OUTLETS DURING 1992.

az

IN

ΤΟ

"WE ATTACH MUCH IMPORTANCE TO THE URUGUAY ROUND OF MULTILATERAL ΤΟ ACHIEVE THE NEGOTIATIONS AND VIGOROUSLY SUPPORT EFFORTS TRADE

** HE SAID. MAXIMUM LIBERALISATION POSSIBLE FOR WORLD TRADE,

A MORE IMMEDIATE ANXIETY, HOWEVER, WAS TRADE RELATIONS CHINA AND THE UNITED STATES.

BETWEEN

MR MACLEOD SAID HONG KONG WAS NOT DIRECTLY INVOLVED NEGOTIATIONS.

IN

THESE

ITS

"BUT

OF TERRITORY HAS A GREAT DEAL AT STAKE BECAUSE THE HEAVY INVESTMENTS IN CHINA, THE MANUFACTURING CAPACITY WE HAVE CREATED EACH OTHER'S IN GUANGDONG AND THE FACT THAT HONG KONG AND CHINA ARE LARGEST TRADING PARTNER.

SAID

11

HONG KONG

HE

WAS RELIEVED THAT INTELLECTUAL PROPERTY WAS SOLVED.

TRADE THE

ISSUR ON

ON STATUS

"WE HOPE THAT A SETTLEMENT WILL ALSO BE FOUND FOR THE ISSUE MARKET OPENING MEASURES, AND THAT CHINA'S MOST FAVOURED NATION IN THE UNITED STATES WILL BE RENEWED.

"WE SHALL PROCESS, HE SAID.

CONTRIBUTION CONTINUE TO MAKE A POSITIVE

TO THIS

INFLATION MUST BE REVIEWED REALISTICALLY: FS

THE

MACLEOD, TODAY CONFIDENT ABOUT

OF EXPANSION FURTHER

THE OPPORTUNITIES IN PROSPECTS FOR AN

THE

FINANCIAL SECRETARY,

HAMISH HON (WEDNESDAY) SAID THAT WHILE HE COULD BE REASONABLY ROBUST GROWTH IN GDP THIS YEAR, ABOUT INTERNATIONAL

AND ABOUT INCREASED BUSINESS TRADE SOUTHERN

HE WAS LESS OPTIMISTIC ABOUT THE CHINA, EARLY AND SIGNIFICANT FALL IN THE RATE OF INFLATION.

TREND," THE FINANCIAL "THIS IS DESPITE THE RECENT DOWNWARD

THE LEGISLATIVE SECRETARY SAID IN HIS BUDGET SPEECH FOR 1992-93 TO COUNCIL.

ABOUT

MR MACLEOD SAID THE COMMUNITY WAS UNDERSTANDABLY WORRIED RISING PRICES, AND IT WAS ONLY RIGHT THAT HE REVIEWED THE PROSPECTS ON THIS FRONT FRANKLY AND REALISTICALLY.

"THIS

OF

YEAR WILL SEE A FURTHER RISE IN THE REAL GROWTH RATE

THIS EXPANSION IN ECONOMIC TO 5%, AS I HAVE ALREADY EXPLAINED.

HE SAID. ACTIVITY WILL BRING HIGHER INCOMES,

GDP

BUT, AT

TH

THE SEVERE

THE SAME TIME, IT MUST INEVITABLY ADD TO PRESSURES ON EXISTING RESOURCES, PARTICULARLY OF LABOUR AND LAND.

/"AS A