7.
Measured by exports, the Growth rate in
The
in recent
no nichications at present of a
economy
years.
decline
has been of the order There are
of 12-14%
von this rate
but it may prove difficult
to mantam. Apart from its unshandddqnto the
its
trade noted in
factors affecting the expansion of h
6 above, Hong Kong's competitive position
para 6 above
worsen
(particularly vis-a-vis
Can be expected to
low-cost Asian countries
Oher
Korea) with
such as
Taiwan
The progressive introduction of
Western concepts of
hours of work
It is reasonable
labour legislation e.q. shorter
and with steadily rising wage rates.
to assume
high
however
F
that
and the
substantial
not withstanding they natural rate of increase
need to provide employment for a
and rapid uricrease
ст
The size of the working
population, lwing standards
maintained and
improved
Growth in the economy.
could be
at a
lower rate of
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