TNAG-0051-FCO40-87-Secretary-of-State-s-television-interview-about-Hong-Kong-1967 — Page 25

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and terrorism. Our expectation and hope is

that more reasonable and civilised canons of

behaviour will from now on prevail and that

people, in the words of the Foreign Secretary,

"may settle down again to their normal pursuits,

which is what the vast majority of them want".

V (4)

Does the Minister see any serious falling-off

of investment in Hong Kong due to riots and

civil disturbance?

Ска

Key Clearly, events of menu that have been

occurring in Hong Kong are bound to have some effect

on the economy. Initially there was, quite

naturally, some nervousness among businessmen,

tourists, those who had money in the banks. It

does not take much to make "hot" money move, as we

Withdrawal of deposits from the

banks was at a fairly high rate in May and June

but by August had almost ceased and since then

there have been clear indications that money is

flowing back into the banks.

know in London.

X

I think that if we turn to the trade figures

over these months we get a very fair reflection of

the state of economy. Exports have continued to

rise month after month by 16% - 17% over last year's

performance, The import figures have admittedly

dipped, but this has been very largely due to the

fall in deliveries from China, particularly of

foodstuffs. Trade with China has been affected by Fransport

anfounded internal difficulties in that country and by/claims of the local Exammast's that the port was deliberate, somewhat half-hearted and unsuccessful paralysed by strikes.

attempte to restrict Chinelo trade with Hong Kong as

part

campaign to represent it as a strike-bound

port paralysed by riots.

/All the