TNAG-1258-FCO40-1591-Third-countries-and-the-future-of-Hong-Kong-1984 — Page 63

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There has been an emergence of newly industrialized countries, or NICS,

and ASEAN, which experienced 7% annual economic growth throughout the

1970s, has emerged as a viable international grouping backed by what

has been referred to as the "collective self confidence" of the five

member countries. China's policy for modernization and open external

policy is now firmly established.

The Asian and Pacific region today forms one of the most dynamic

growth centres of the World. The dynamism of this area is also

characterized by the amalgam of traditional oriental culture and western

civilization. Today, the world faces a multitude of problems. Among

them there may be three major threats to mankind, short of the outbreak

of major military conflict. One is economic stagnation and the creeping

spectre of protectionism. Second, the widening gap between the indus-

trialized North and developing South. Third, political instability

due to intolerance of dissenting beliefs and ideologies. The most

positive aspect of what is happening in the Asian and Pacific region

today is precisely that the region warrants a long-term optimism on

all these major threats. Depending on how the nations concerned steer

the future, there may be a real possibility that all these problems

will be solved not through confrontation but through harmony and not

through shrinkage but through expansion in this part of the world.

That is That will be a great contribution to the rest of the world.

why the positive trend in the Asian and Pacific region is important

not only for the people in the region but also for the rest of the

world. I am happy to note that President Reagan during his visit to

Tokyo this week called this region the "New Frontiers of the World".

At this juncture, I would like to refer to a series of incidents

which occurred recently in Asia, namely the assassination of Mr. Aquino,

the shooting down of the Korean Airline jet plane and the North Korean

terrorism in Burma. Some observers are now depicting a rather gloomy

picture of Asia because of these incidents. These incidents may have

been a good reminder of the fact that peace and stability in Asia are

still lying on soft ground. They should not, however, be taken as

signs of internal weakness of the Asian nations. The economies of

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