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Wen Wei Po, on the other hand, warned manufacturers not to pass their losses to workers by lowering their wages or reducing their allowances.
Kung Sheung Evening News was worried that all sectors in Hong Kong would be affected by the new agreement, saying that the crime situation would deteriorate if the unemployment situation became serious.
Speaking on the possibility that 10.000 workers might lose their jobs, Sing Tao Jih Pao called on the Government and the private sector to co-operate to offer relief to affected workers or to help them find new jobs at a time when the social welfare system had not attained its desired goal.
The Hong Kong Daily News was more optimistic on the employment issue, saying: "Hong Kong people have strong adaptability to changing circumstances and we need not be too worried about the employment situation."
Analysing e ill-effects of the new agreement, the Hong Kong Economic Journal believed that the local real estate industry would be the first to be hit by the cutbacks in quotas as the purchasing power of local consumers might be weakened in the present
economic crisis.
However, it hoped public expenditure would not be reduced in the face of economic recession.
Two other papers, Wah Kiu Yat Po and Tin Fung Yat Po, criticised the EEC for its protectionist attitude, with Wah Kiu calling on affected nations to join forces to fight against the unreasonable policy of those "selfish international syndicates."
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