TNAG-1462-FCO40-1988-Visits-by-Chinese-officials-to-the-UK--including-visit-by-Hu-1986 — Page 172

6. It may have been no coincidence that Lee Kuan Yew took the development of trade with China as one theme in his

speech at a Chinese New Year Reception on 22 February. He warned that it would take many years for China to become a major factor in Singapore's economy. "Patience, perseverance and ceaseless legwork" would be required to develop business with China. There would be no easy pickings or fast bucks. Singaporeans would have to find their way through a totally different administrative system. But despite the difficulties, Singaporeans should note that China had chosen to build a long-term economic relationship with them despite innumerable offers of economic cooperation from the US, Japan, Europe and Hong Kong.

This was because the Chinese placed considerable weight on the reliability and dependability of the people with whom they deal. A get rich quick attitude among Singaporean businessmen could ruin relations between the two countries and put an end to enormous long-term opportunities for Singapore.

Yours Ever, Reike

M C Clements

Head of Chancery

cc Political Adviser, Hong Kong; Chancery Peking; FED FCO; HKD, FCO; Research Dept, FCO; G R Robinshaw, OT2 DTI