TNAG-0170-FCO40-206-British-Trade-Commissioner-1969 — Page 49

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has brought its events, some pleasant, some contentious,

but all in turn bringing me new friends.

Looking back on it all now I realise that there are

many combined reasons why Hong Kong has enjoyed an

export-led boom for such a prolonged period. But high

among them all I place the compactness of the place, which

leads business people to get to know each other very quickly

indeed. In addition communications are good, both to

overseas and within the Colony. All this gives the

advantage to Hong Kong of being able to react quickly

and decisively to any given situation.

If one considers the postwar development of Hong Kong

in ten year periods, then we can now see that the decade

of the 50's laid the foundation for today's prosperity.

The 60's, in this context, have been a period of

consolidation when Hong Kong's advance has continued

in spite of its being tested by internal dissensions,

financial crises and increasingly restrictive trading

conditions overseas. What have the 1970's got in store

for Hong Kong, and what position is Britain going to play

in the commercial and economic development of the Colony

in the coming decade ?

the

My own view is that the next decade will see Hong Kong

economy drawing decisively away from its other Asian

rivals. The small size of the Colony and its lack of

raw materials will prevent it from ever rivalling a giant

like Japan, but one can foresee with confidence Hong Kong

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