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Hong Kong and the UNCTAD Generalised Preferences Scheme
An aide-memoire on this subject was sent to the
State Department in May. The Embassy in Washington
reported in early September that two alternatives had
been submitted to the President either that
Hong Kong should be included subject to her inclusion
by the EFC and Japan or that she should be excluded
subject to revision if she is included by the EEC and
Japan.
2.
The Secretary of State might say that we attach
great importance to this matter, and very much hope
that Hong Kong will not be excluded from the U.S.
offer. We accept that Hong Kong is competitive in
some products but this problem can be overcome by the
use of safeguard arrangements. Other developing
countries, such as South Korea and Taiwan, are no
less competitive; Hong Kong merely seeks the
avoidance of discrimination.
A decision by the USA
to exclude Hong Kong would strongly encourage other
major donors to follow suit. This could have adverse
effects on Hong Kong's economy and consequently on
the future development and stability of the colony.
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