TNAG-0145-FCO40-181-Exports-of-textiles-to-United-States-of-America-1969 — Page 175

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MR STANS' VISIT

X

As an accomplished diplo- mean trouble for America's

mat, the U.S. Secretary recalcitrant. trading part- President of Commerce, Mr Maurice ners in Asia. H. Stans arrives in Houg- Nixon generally enjoys a kong not to make demands reputation favouring freer or present ultimatums but trade. Indeed this was "merely to present a state- reiterated by Mr Stans at ment of the situation in the Kai Tak yesterday, yet his United States relating to mission to, Japan does the textile industry.” Judge nothing to enhance this ing by his warm reception image. Let us hope he in Tokyo and Taipei and corrects this during his by the preliminary alarms current visit. Logically sounded by Hongkong's Mr Stans points to the own textile men Mr Stans' restrictive policies prac-.* statements pack a terrify- tised by Japan in the ing punch. It will be fields of trade and com- interesting to hear his pro-

merce particularly in posals and it must be hoped

And he will lend as sympathetic there is some justice in the

capital investment. an ear to Hongkong's prob- lems as we will be expected that Japan "has grown in increasing American belief

to lènd to America's.

to the point! Hongkong has not in the strength past allowed obduracy to where it no longer needs obscure the fact that the the protection and limita- United States is our main tions appropriate to market, that it accounts insecure nation." Mr Stans for 41 per cent of our will find Hongkong a dif- › domestic exports and that ferent kettle of fish. Re-. more than a third of these gardless of the imbalance consist of garments and in trade, the Hongkong textiles. Clearly this is market is an open door to not a market that can be the U.S. exporter, investor ¿ jeopardised either by ac- and businessmen. Indeed cepting stringent restric- we welcome them with tions or offering voluntary open armis and ask for quotas-to maintain the nothing more than that. fiction of current jargon- ever increasing trade be- which leave no room for

tween the two countries: fair expansion.

+

an

The warning voices in should continue to be the ongress may or may not basis of our relations.

VIVED IN

21 MAY 1969

1.

HKK6/004/1