i
(11)
(12).
-(13)
Was the case convincing that the US industry
was being disrupted by imports? There had.
been no decline in employment in the US
textiles industry;
and production had also
increased. The import figures showed a
big percentage rise but percentages did not
reveal how far if at all domestic production
was being ousted by imports. Nothing had been
said about the effect on the smaller producers
of domestic production rather than of imports.
It had not been demonstrated that the damage
was caused by imports.
Mr. Stans had spoken as if in m.m.f. Hong Kong
would be less affected than in wool..
It was difficult to foresee the future.
M.m.1.
presented greater growth prospects for Hong Kong
than wool in all countries.
The economic case did not seem to be one which
Hong Kong could accept across the board and they
would not wish to put their head in the lion's
jaw. This might not seem to be the reactions
of a good trading partner. But Hong Kong had
done something on a voluntary basis in some
countries. The philosophy was that they could
not accept "across the board" restrictions;
but they were always willing to hear a case
across narrow fields and to see if something
/ needed
7
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