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on the Government's freedom to terminate, it appears to be less secure than a lease for a specified period of time. From the point of view of confidence it is therefore much less desirable than a straight lease of 20-25 years.
It also risks being misinterpreted as
an indication that the status of Hong Kong might be changed prior to 1997. But if a straight lease stretching beyond 1997 proves to be unacceptable to the Chinese, as might well be the case, it is an alternative worth considering.
(D C Wilson)
cc RJT McLaren Esq, FED
TJ B George Esq, Peking
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