TNAG-0380-FCO40-426-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 179

GRS 172

(AMENDED DISTRIBUTION 15 AUGUST 1973)

A CLAIR

FM HONGKONG 150800Z

UNCLASSIFIED

[ORWELL]

AUG INFO

TO ROUTINE ESD TEL ESBOT 327 OF 15 AUG/INFO FCO

FOR MISS LACKEY (CRE 2) FROM ASTON

REPEATED SEPARATELY TO FCO FOR STUART CHKIOD), FINLAYSON (EPO)

AND CAMBRIDGE (FPD)

(92)

R

IN

MY CREDA 76 AND 78

R-C

51

STERLING

1/ALUW73

WKK SLL

HONG KONG STANDARD IN DELAYED EDITORIAL COMMENT TODAY (15) SAYS

THAT LEADING.FINANCIAL AND POLITICAL LEADERS HAVE RIGHTY

CRITICISED LONDON'S HIGH-HANDED ATTITUDE...... WHAT HAS IRKED

LOCAL LEADERS IS THE DISINCLINATION OF BRITAIN EITHER TO NEGOTIATE

· MEANINGFULLY OR TO ASSURE THE COLONY WHOSE ECONOMIC WELL BEING IS

VITALLY LINKED WITH ITS EXTERNAL TRADE'' AFTER ACKNOWLEDG I NG

BRITAIN ''MONETARY PROBLEMS VISA-VIS THE STRONGER CURRENCIES OF

WESTERN EUROPE' AND THE ''DIFFICULT POSITION OF THE COLONIAL

CIVIL SERVANTS', IT WARNS THAT THE BRITISH GOVERNMENT CAN ''ILL

AFFORD TO FORGET THE FACT THAT HONG KONG HAS BUILT A STRONG ECONOMY

ON HER OWN EFFORTS WITHOUT EXTERNAL HELP AND THAT CONINUED WELL

/BEING

ве

96

PA

7/