TNAG-1252-FCO40-1585-Third-countries-and-the-future-of-Hong-Kong-1983 — Page 122

CONFIDENTIAL

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21 MAR 1933

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CONFIDENTIAL

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TELELETTER

FROM W MORRIS HONG KONG AND GENERAL DEPARTMENT

FILE REFERENCE HKK 040/5 DATED 16 MARCH 83

FOLLOWING FOR S J GOMERSALL ESQ, WASHINGTON

AND TO RJT MCLAREN ESQ CMG HONG KONG, AC GALSWORTHY ESQ, PEKING

CSIS SEMINAR ON HONG KONG

1.

2.

A.

B.

CLIFT'S TL OF 11 MARCH REFERS."

A COUPLE OF ADDITIONAL POINTS:

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CHINA'S FX EARNINGS FROM HONG KONG IN 1982 ARE ESTIMATED

TO BE APPROXIMATELY 30 PER CENT REPEAT 30 PER CENT OF

HER TOTAL FX EARNINGS.

(THERE ARE OF COURSE OTHER

SIGNIFICANT BUT LESS QUANTIFIABLE ECONOMIC BENEFITS TO

CHINA):

ASIA

THE ASIA WALL STREET JOURNAL OF 30 DECEMBER CONTAINED A

USEFUL ARTICLE BY WILLIAM SHARPE, A CHASE MANHATTAN BANK

ECONOMIST IN HONG KONG, ENTITLED 'TEN MAIN INGREDIENTS

OF HONG KONG'S SUCCESS'. YOU MAY FIND THESE A HELPFUL

QUARRY.

SIGNED W MORRIS

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