XN000022-1993-05-02 — Page 7

SUNDAY, MAY 2, 1993

SO WHEN THE ISSUE OF CHINA'S MOST-FAVOURED-NATION (MEN) STATUS FIRST AROSE FOR SERIOUS DEBATE IN 1990, HONG KONG FOUND ITSELF WITH MANY FRIENDS WHO UNDERSTOOD JUST HOW BADLY THE TERRITORY MIGHT SUFFER ECONOMICALLY IF THE STATUS WERE TO BE REVOKED.

THE FORM OF THAT DEBATE HAD GRADUALLY CHANGED OVER THE YEARS, MOST PARTICULARLY WITH THE START OF A NEW ADMINISTRATION THIS JANUARY.

BUT MR JACKSON SAID THE CENTRAL THEME OF HONG KONG'S HAS REMAINED CONSISTENT, SIMPLE AND TELLING.

MESSAGE

DEAL A TIME IN THIS U.S. RUSINESS

NAMELY THAT WITHDRAWAL OF CHINA'S MPN STATUS WOULD SEVERE BLOW TO HONG KONG'S ECONOMY AT A CRITICAL TERRITORY'S DEVELOPMENT; AND THAT CONSIDERABLE INTERESTS HERE WOULD BE DAMAGED.

GOVERNMENT WOULD ΤΟ THE AMERICAN IN THE PROCESS INTERESTS AT

HE REASSURED THE AUDIENCE THAT THE HONG KONG SPARE NO EFFORTS TO REPRESENT HONG KONG'S INTEREST PEOPLE AS CLEARLY AND CONVINCINGLY AS IT COULD; AND DRAW ATTENTION TO THE VERY CONSIDERABLE U.S. BUSINESS STAKE IN THIS GAME.

"IF THERE IS A BENEFIT TO BE OBTAINED FROM THIS PAINFUL ANNUAL EXERCISE OF REVIEWING CHINA'S MAN STATUS, IT IS THAT IT DOES ENCOURAGE THE PEOPLE OF HONG KONG AND THE UNITED STATES TO THINK MORE ABOUT ONE ANOTHER AND WHERE THEIR INTERESTS LIE," MR JACKSON SAID.

HE ALSO SAW THE NEED TO BROADEN THE UNDERSTANDING IN THE THAT HONG KONG HAD ITS SEPARATE STATUS AS A COMMERCIAL ENTITY.

U.S.

"WE ARE ALWAYS ON THE ALERT FOR THINGS WHICH MIGHT UNDERMINE PERCEPTIONS OF HONG KONG'S SEPARATENESS. EDITORS MAKING THE MISTAKE OF HEADING AN ARTICLE ABOUT ECONOMIC RELATIONS BETWEEN CHINA AND HONG KONG WITH THE TITLE "THE VANISHING BORDER" ARE LIKELY TO RECEIVE ANXIOUS NOTES FROM HONG KONG TRADE OFFICIAL EMPHASISING THAT THE BORDER IS NOT VANISHING, FAR FROM IT.

IS

EXTREMELY WILL BE EXAMPLE, EUROPEAN

"BETWEEN BUSINESSES, OF COURSE, THE RELATIONSHIP CLOSE. BUT AT THE FORMAL LEVEL HONG KONG NOW AND POST-1997 LESS ECONOMICALLY INTEGRATED WITH SHENZHEN THAN, FOR SCOTLAND IS WITH GREECE TO CHOOSE AN EXTREME EXAMPLE IN THE ECONOMIC COMMUNITY.

"HONG KONG'S VALUE TO CHINA AND THE INTERNATIONAL BUSINESS COMMUNITY RESTS ON THE ECONOMIC SEPARATENESS PROVIDED IN THE JOINT DECLARATION, INCLUDING A FREELY CONVERTIBLE CURRENCY, FREE PORT STATUS, THE WELL-ESTABLISHED RULE OF LAW, AND THE NETWORK OF INTERNATIONAL TRADE AGREEMENTS WHICH ARE ESSENTIAL TO HONG KONG'S CURRENT SYSTEM AND WHICH REQUIRE THE DELINEATION OF A WELL-CONTROLLED BORDER.

"SUCH A HORDER NEEDS NOT, NOR IN HONG KONG'S CASE DOES IMPEDE CLOSE ECONOMIC LINKS, MR JACKSON SAID.

17

IT,

LASTLY, MR JACKSON SAID WE MUST DO A GREAT DEAL OF WORK ΤΟ PROMOTE HONG KONG AS A U.S. BUSINESS CENTRE AND BRIDGE TO CHINA.

/"THERE IS