BE DISCUSSED. HONG KONG HAS PAID DEARLY, FOR KEEPING HER RESERVES
+
IN STERLING - FUNDS THAT COULD HAVE BENEFITTED OVER FAR FROM
AFFLUENT COMMUNITY - AND WE ARE GRAVELY CONCERNED AT THE PROSPECT
OF ABSORBING FURTHER LOSSES. BRITAIN'S ACTIONS AND ATTITUDES HAVE
FRANKLY BEEN DIFFICULT TO UNDERSTAND'.
COMMENTS BY SOME OTHER LEADING INDUSTRIALISTS AND BANKERS ARE
REPORTED IN THE S.C.M.P. BUT NOT IN ANY OTHER PRESS.
DR. S.Y. CHUNG CLEGCO) IS REPORTED AS ATTACKING THE BRITISH
GOVERNMENT FOR TAKING CARE OF ITSELF WITHOUT REGARD FOR HONG KONG.
HE IS SAID TO HAVE EXPRESSED DOUBTS ABOUT HONG KONG'S CONTINGENCY
PLANNING.
MR. T.K. ANN (LEGCO) IS QUOTED AS SAYING HE 'EARNESTLY HOPED THAT
A FAIR AND FIRM DEAL WILL BE FORTHCOMING ANYTHING FALLING SHORT
OF IT WILL PLAY HAVOC WITH OUR FUTURE ECONOMIC STABILITY.
MR. Q.V. LEE (LEGCO) PREFERRED TO WAIT AND SEE THE TERMS BEFORE
COMMENTING.
MR. C.L. HILTON CURBAN COUNCILLOR) DESCRIBED THE BRITISH ATTITUDE AS 'HIGH HANDED' AND IS QUOTED 'WE HAVE RENDERED HELP TO BRITAIN
WHEN IT WAS IN DIFFICULTIES WITH ITS CURRENCY AND WE EXPECT TO
BE GIVEN FAIR PROTECTION ON OUR RESERVES IN LONDON'.
ANOTHER URBAN COUNCILLOR (MR. CHOW) IS QUOTED AS FEARING THAT THE
DECISION MAY HAVE CHAIN REACTION LEADING TO POLITICAL AND
ECONOMIC INSTABILITY'.
GENERALLY HOWEVER BOTH VOLUME AND TONE OF COMMENT ON PRESS AND
RADION HAS SO FAR BEEN LESS THAN FOLLOWED THE PREVIOUS ANNOUNCEMENT
IN DECEMBER 1972. IMPRESSION IS THAT REACTIONS ARE BEING HELD IN
CHECK PENDING SEPTEMBER DECISION BUT GROUND IS BEING PREPARED FOR
No comments yet.
Private notes are available after approval.