2.
sector, Britain's share is minimal (with the exception of certain products such as dyestuffs). Only if Britain takes a greater share of this sector of Hong Kong's imports, will there be any really significant and appreciable improvement in its share of total imports. Raw materials and semi-manufactures are high-volume, low profit items;
distance and freight rates are inhibiting factors; and the absence of any control against dumping deters firms such as ICI.
(iv) From the attached appendix it will be seen that British exports
enjoy a respectable and, in some cases, large share of a good
part of the capital goods sector. It is not easy to improve
performance from a high base. Moreover, as the British
performance is so narrowly concentrated, it is particularly
vunerable. Failure to obtain further orders from PEPCO for generating equipment, for example, would make a considerable
dent in our overall share of the market.
(v)
Investment brings trade with it.
Britain has fallen well
behind the United States and Japan as an investor in Hong Kong.
The Present Position
2.
Inadequate investment in British industry and the resultant lack of capacity has resulted in the past in long and delayed deliveries. This together with a poor back-up service lost us orders
and a market once lost is not easily regained. much improved, but difficulty in quoting firm prices in the past year or two because of inflation in Britain has inhibited growth.
Deliveries are now
/3. The....
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