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ECONOMIC POLICY BACKGROUNDER
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EB-86-10
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American Consulate General 26 Garden Road, Hong Kong Telephone: 5-239011
THURSDAY MAY 15, 1986
HONG KONG AND CHINA: THE TIES THAT BIND
Burton Levin
Consul General of the United States of America
The following is the text of Consul General Levin's remarks, as prepared for delivery, to the American Chamber of Commerce in Hong Kong on May 14, 1986.
Today I'd like to share with you some of my thoughts on the evolving relationship between Hong Kong and the People's Republic of China, and what it will mean for Americans doing business here in the coming years. It won't come as a surprise to anyone here that I remain firmly among the bulls when it comes to forecasting Hong Kong's prospects. For more than four years I've been reassuring everyone within earshot that Hong Kong will make it, and I've seen nothing that would make me change my tune now, as I prepare to slip out of this town in a couple of months. Indeed, last month after travelling with Ira Kaye, Jeff Muir and some of you through the Pearl River Delta region of Guangdong Province, I came away more persuaded than ever that a transformation of historic proportions is underway in China most particularly in South China and that the Chinese increasingly appreciate that an open and prosperous Hong Kong can contribute importantly to China's ultimate modernization.
Let's look for a moment at what is happening in China. Since 1978 the People's Republic has been correcting the legacy of long years of inward-looking and often self-destructive policies. The leadership is fully preoccupied with achieving its vision of a modern nation that will restore China's greatness, enhance the material and cultural life of its people, and transform China into a force for global peace and prosperity. Having studied Chinese history for most of my adult life, I've gotten into the habit of looking at events in China in the context of the long flow of Chinese history. Some of these events the Opium War, for example have profoundly altered China's course. I venture to say that what China began doing in 1978 represents one of these watersheds in Chinese history. Future students of Chinese history will look back on the Third Plenum of the CCP in 1978 as marking the decisive end of 150 years of turmoil and tragedy brought about by
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