China Mail
COMMENT
THE suddenness of the recent move by Britain on textiles was more surprising than the announcement itself.
Now Hongkong's major industry -textiles -finds itself once again with its back to the wall
Those who are expert at reading the trading trends must have realised that the unemployment problem in Britain was going to have effects.
When that problem included Britain's own textile industries even Crown Colonies could expect to be upset in the backwash.
The position for our textile men however is made no better as it comes hard on the heels of similar tough measures in the United States.
All - Tong Chong Sin
- 18/12/71
Tels Head Offer 62016) Cair Dire
Starting at home...
Many are now making noises of despair. On the other hand a lot of false hopes are being raised by those who took the action.
There is no use wailing or wishing for there is little chance that any changes will be made.
So Hongkong must constantly look for new markets to offset its loss of the old
ones.
One such market is right here on its own doorstep.
At the moment hundreds of Hongkong- made products are not available in Hongkong itself.
Factory outlets are few and far between. Many products appear to be made here.
sent abroad for an overseas label and then re- sold here at double the initial price. Obviously this can be amended.
At the same time efforts must be made to offset the dependence on the textile industry by encouraging other light industries.
can
Perhaps here we
expect to hear something from the Trade Development Council.
As the name implies that should be its
job.
At a time like this we are looking for some return from the money which is injected into it.
This is its chance.
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