THURSDAY, DECEMBER 3, 1992
HK'S SUCCESS STORY TOLD
HONG KONG, AT THE HEART OF ASIA AND THE HUB OF THE ASIAN ECONOMY, IS HELPING TO DRIVE THE ECONOMIC GROWTH IN THE REGION AND TO SPREAD PROSPERITY EVER MORE WIDELY, THE GOVERNOR, THE RT HON CHRISTOPHER PATTEN, SAID TODAY (THURSDAY).
OF
ADDRESSING THE OPENING OF THE BUSINESS WEEK ASIA SYMPOSIUM CHIEF EXECUTIVES, MR PATTEN SAID HONG KONG TODAY WAS PLACED MUCH AS NEW YORK MUST HAVE BEEN AT THE TURN OF THE CENTURY.
"THE
SAME DRIVE, THE SAME CONFIDENCE, THE SAME ENERGY AND THE SAME GUT-FELT DETERMINATION TO SUCCEED."
ASIA.
HOWEVER, HE NOTED THAT THERE WERE CLOUDS ON THE HORIZON FOR
THE MOST DANGEROUS THREATS TO ASIA'S CONTINUED PROSPERITY WERK GLOBAL THREATS TO FREE TRADE, WHICH BOILED DOWN TO SEVEN LETTERS "MFN" (MOST FAVOURED NATION) AND "GATT“ HE SAID.
P
MR PATTEN WAS DELIGHTED THAT THE UNITED STATES AND THE EUROPEAN COMMUNITY APPEARED TO HAVE REACHED AGREEMENT ON THE MAJOR ELEMENTS BLOCKING THE URUGUAY ROUND.
"I VERY MUCH HOPE THAT NEGOTIATIONS IN GENEVA CAN BE CONCLUDED AS SWIFTLY AS POSSIBLE, AND I HOPE AS WELL THAT THOSE MEMBER STATES OF THE COMMUNITY WHO MAY BE HAVING SECOND THOUGHTS, WILL THINK OF THEIR OWN FUTURE AND ALL OUR LONG-TERM FUTURES.
"
NOTING THAT CHINA AND THE UNITED STATES WERE HONG KONG'S LARGEST PARTNERS IN COMMERCE, MR PATTEN POINTED OUT ALSO THAT IF CHINA LOST ITS MFN STATUS HONG KONG WOULD SUFFER.
"OUR GROWTH COULD BE CUT BY TWO-AND-A-HALF PER CENT, 60,000 JOBS COULD, ACCORDING TO THE ECONOMISTS, BE LOST,' HE ADDED.
"
MR PATTEN SAID HONG KONG WAS THE MOST BUSINESS-FRIENDLY COMMUNITY, IN WHICH EVERYONE SEEMED TO UNDERSTAND WHAT REALLY MADE THE ECONOMY TICK.
"WE'RE A VIBRANT, SOCIALLY RESPONSIBLE MARKET ECONOMY WHICH EMBRACES CHANGE IN EVERY SECTOR RATHER THAN REJECTS IT.
"I'M DETERMINED THAT WE SHOULD STAY THAT WAY, HE ADDED.
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