XN000022-1994-03-09 — Page 6

WEDNESDAY, MARCH 9, 1994

IS

THE

HONG BY

AND

THE IMPORTANCE TO HONG KONG'S ECONOMY OF CHINA'S MEN STATUS INCREASING YEAR BY YEAR. AS HONG KONG BENEFITS INCREASINGLY FROM CONTINUING OPENING UP OF CHINA TO EXTERNAL TRADE, THE STAKES FOR KONG IN THE RENEWAL OF CHINA'S MFN STATUS ARE BECOMING HIGHER YEAR YEAR. SOME MEMBERS HAVE REFERRED TO OUR MOST RECENT ASSESSMENT OF THE DAMAGING IMPACT OF

THIS THE LOSS OF MFN ON HONG KONG'S ECONOMY. ASSESSMENT HAS NOT TAKEN INTO ACCOUNT THE FURTHER LOSS IN INCOME JOBS

RETALIATION IF CHINA WERE TO CUT BACK ON ITS IMPORTS, EITHER IN

PROGRAMME. AGAINST THE US OR AS A CONSEQUENTIAL ECONOMIC RETRENCHMENT NOR

TAKEN HAS IT

INTO ACCOUNT THE EXTREMELY DAMAGING BUSINESS CONFIDENCE CONFIDENCE IN RCONOMIC GROWTH. ENTERING SOVEREIGNTY,

EFFECT CHINA, OR LONG-TERM

ON

IS CHINESE MORE

IN HONG KONG AS THE GATEWAY TO

AND HONG KONG'S ABILITY TO MAINTAIN STEADY

KONG ALL THIS WOULD HAPPEN AT A TIME WHEN HONG

TO THE FINAL STAGES OF PREPARATIONS FOR OUR RETURN

WHEN THE ASPIRATIONS OF OUR PEOPLE FOR BETTER AND

SOCIAL COMPREHENSIVE

SERVICES, AS WELL AS ENVIRONMENTAL INFRASTRUCTURAL IMPROVEMENTS TO ENHANCE THEIR QUALITY OF LIFE, ARE GETTING EVER HIGHER.

PROFITS. PEOPLE THEIR

IS,

AND

BY

THE A

EQUALLY

MR PRESIDENT, THE HONG KONG STORY IS NOT JUST ABOUT MAKING

SIX THE HONG KONG STORY IS, ABOVE ALL, ABOUT HOW

MILLION

UP AND THEIR PREDECESSORS HAVE MANAGED TO PULL THEMSELVES

IN OWN BOOTSTRAPS AND TRANSFORMED THE BACKWATER MIRED

POVERTY AND INSTABILITY THAT WAS HONG KONG IN THE YEARS IMMEDIATELY AFTER SECOND WORLD WAR, INTO A COMMUNITY WHICH IS NOT ONLY PROSPEROUS AND PROMINENT ENTITY IN THE WORLD ECONOMIC ORDER BUT WHICH IMPORTANTLY, ALSO FREE AND FAIR AND CARING. A COMMUNITY WHICH CARES

OUR ABOUT

QUALITY OF LIFE, ABOUT SOCIAL JUSTICE AND ABOUT CIVIL RIGHTS. TAKE AWAY MFN, AND YOU CUT BACK OUR ECONOMIC GROWTH SHARPLY. WHICH WE TAKE AWAY GROWTH, AND YOU TAKE AWAY THE VERY FOUNDATION ON

TO BUILD A BETTER HONG KONG PLAN

A HONG KONG ABLE TO COPE WITH ASPIRATIONS OF ALL OF OUR PEOPLE AND THE CHALLENGES OF THE DOUBTLESS, WE WOULD OVERCOME THE PROBLEMS, IF MEN WAS REMOVED HAVE SURMOUNTED DIFFICULT PROBLEMS IN THE PAST. IT WOULD BE A TOUGH GREAT CHALLENGE, BUT RISING TO CHALLENGES HAS ALWAYS BEEN HONG KONG'S STRENGTH.

—

THE FUTURE.

AS WE

PAST

I

TO SUM UP, MR PRESIDENT, THE HONG KONG GOVERNMENT WILL CONTINUE ΤΟ

MFN ARGUE VIGOROUSLY FOR THE UNCONDITIONAL RENEWAL OF CHINA'S STATUS IN THE US. THE OPENING OF CHINA TO EXTERNAL TRADE IN THE FIFTEEN YEARS HAS WORKED WONDERS IN THE ECONOMIC ARENA, AND IS SETTING IN TRAIN A PROCESS OF GRADUAL BUT STEADY PROGRESS ACROSS THE BOARD. DO BELIEVE, MR PRESIDENT, THAT WITHDRAWAL OF MFN WOULD NOT ONLY DAMAGE HONG KONG'S ECONOMY, BUT ALSO BE UNPRODUCTIVE, OR EVEN COUNTER- PRODUCTIVE, IN TERMS OF THE OBJECTIVES WHICH THE US HAS SET ITSELF. THE OFFICIAL MEMBERS WILL VOTE FOR THE ORIGINAL MOTION.

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