TNAG-0389-FCO40-435-Visit-of-trade-mission-of-the-London-Chamber-of-Commerce-and-1973 — Page 55

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Good news is no news.

Secondly, and please forgive me for

saying this, I believe too that many people who would claim

to be friends of Britain, get a special pleasure out of

having a pretext for criticising her : out of being able to

tweak the old lioness' tail.

Like many other countries we now have the special problems

of a boom. There are shortages of raw materials and waiting lists for key equipment. British companies are scouring the

world for components and are becoming in their turn extremely

critical of late and faulty deliveries by foreign suppliers.

At least no one can doubt British industry's interest in the

Hong Kong market. I understand that there will have been 18

missions like ours this year and that 10 more are planned for the early months of next year not to speak of the British Motor Show next February. The Government's prices

Buyers who abandon

policy gives a strong incentive to export and British

exporters are finding expanding markets in many countries

and of course especially in the EEC they are increasing their

capacity to supply those markets. Old friendships surely

still count for much in business.

traditional suppliers cannot expect to be able to return to

them whenever it suits them to do so. This, it seems to me,

is above all a time when it would be very unwise to turn away from Britain as a trading partner.

Of course Britain is at grips with very serious economic and

political problems : grave problems of inflation, the

balance of payments and the stability of the pound. To conclude

that Britain is in a state of chronic economic decline is a

very different matter -

and I honestly believe, a great mistake.

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