Kong and Shanghai Bank, unemployment, at 3%, is now less than half the rate of registered vacancies (7.6%). Over the next four to five years the numbers of working age persons entering the labour force is expected to drop. On the face of it, this situation is likely to give rise to serious problems; you may care to ask Mr Henderson for his ideas on how these will be tackled.
d.
Mr Cryer
Last July, during a Commons debate, Mr Bob Cryer (Junior Minister in the DOI) claimed that Hong Kong workers were "grossly exploited". This remark was taken up by the Hong Kong press and, not surprisingly, caused anger in the Colony. Lord Goronwy-Roberts wrote to Mr Cryer outlining recent social progress which has been made in Hong Kong and asking him to issue a statement to the effect that his previous remarks had been an over- simplification. fr Cryer has not yet replied but we understand from his Frviate office that he still believes his comment was justified. The letter from the Chinese Manufacturers Association which appeared in The Times on 25 September has apparently done nothing to alter this opinion.
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