From: DIS (D.O.)
To
: Commissionar (Ire Li)
Nov. 25, 1987
·
10
1
OR
IT WAS. THE 11 SURE THAT IF THERE ARE AND SURELY THERE MUST BE WE IMPROVE OUR A HAVE APPOINTED I HOPE, ON WHAT MY OWN TRAVEL
H.E.: ON THE FIRST HART OF THAT QUESTION, I THINK THAT WE HAVE SUFFERED SOME DAMAGE BUT I DON'T THINK THAT DAMAGE NEED BB SERIOUS
STOCK MARKET CLOSING "DOWN LONG TERM NOBODY REALLY LIKES TO SEE A
EVEN THOUGH THEY DIDN'T CLOSE, MANY MARKETS THROUGHOUT THE WORLD,
THE EXPERTS TELL ME THAT, ON MANY WERE VERY CLOSE TO CLOSURE AND
INDEED ΤΟ MARKETS THROUGHOUT THE WORLD IT WAS IN FACT VERY DIFFICULT TRADE, PARTICULARLY IN CERTAIN STOCKS. SO THE SURPRISE AT THE TOTAL ROUND "CLOSURE OF OUR MARKET FOR FOUR DAYS WAS PERHAPS NOT AS GREAT
THE WORLD AS PEOPLE IN HONG KONG SOMETIMES THINK IMPORTANT THING NOW, I BELIEVE, IS TO MAKE LESSONS TO BE LEARNT FROM WHAT HAPPENED, LESSONS TO BE LEARNT, THAT WE DO LEARN THEM AND THAT
tructures. AND IT IS. FOR THAT REASON THAT 1 COMMITTEE IN ORDER TO ADVISE ME WITHIN SIX MONTHS, MEASURES NEED TO BE TAKEN. THE QUESTION OF
GANS, I AM BOUND TO SAY THAT IF I HAD KNOWN THAT ON THE 19TH OF OCTOBER, I THINK IT WAS, WALL STREET WAS GOING TO CRASH I WOULD NOT HAVE BEEN IN WASHINGTON, BUT I GUESS MANY PEOPLE ROUND THE WORLD HAD WOULD
WERE DOING IF THEY NOT HAVE BEEN DOING WHAT THEY ALSO
THE SAME
IT HAD HAPPENED I THEN HAD TO KNOWN
THING. ONCE
WAS CONSIDER WHETHER IT WAS RIGHT TO CONTINUE WITH MY PROGRAMME WHICH
INFLUENTIAL' PUTTING ACROSS HONG KONG'S CASE TO LARGE NUMBERS OF PEOPLE IN WASHINGTON OR NEW YORK - OR CUT THAT PROGRAMME AND RETURN.
TOUCH
HONG KONG
THE WITH IN
ON ALL WAS ABLE TO KEEP CONSTANTLY
IN THE PEOPLE HERE STRATEGIC DECISIONS.
ALSO HAD CONFIDENCE I
THEREFORE DECIDED CARRYING OUT THE DETAIL OF THOSE DECISIONS AND I
DISTANCE AND TO THAT IT WAS MUCH BETTER TO REMAIN IN CONTACT FROM A
PUTTING ACROSS CARRY OUT WHAT I SAW AS A VERY IMPORTANT PROGRAMME OF HONG KONGES CASE ON CAPITOL HILL, TO THE ADMINISTRATION, TO THE MEDIA, TO INFLUENTIAL PEOPLE IN WASHINGTON AND NEW YORK.
•
ALL EMBARRASSED THAT THE TELLING THEM WERE
MAGOTE NELSON: CAN ASK IF YOU WERE AT
WAS MARKET THE STOCK
WHILE YOU CLOSED OPEN-MARKET POLICY OF HONG KONG?
H
THE
BY
THAT IS HE
A LOT OF HE: I WASN'T PARTICULARLY EMBARRASSED. IT RAISED
UNITED STATES TO QUESTIONS AND 1 FOUND IT QUITE USEFUL TO BE IN THE
MARKET HAVE TRY TO ANSWER THOSE QUESTIONS, NOT JUST ON SHOULD THE CLOSED OR SHOULD IT NOT, BIT WHAT ARE THE UNDERLYING REALITIES OF HONG KONG ECONOMY. SO I DON'T THINK I WAS PARTICULARLY EMBARRASSED
THINK HERE IT. ON AN OPEN MARKET, THE 2E 19 A DISTINCTION I IMPORTANT. I WAS MAKING THE POINT AS STRONGLY AS
TARIFF BARRIERS KONG IS A MARKET WHICH
NO IMPORTANT POINT IN DEALING WITH THE TRADE BILL. MAKE A POINT ABOUT WHETHER WE OPENED FOR 24 HOURS A DAY OR TWO HOURS A DAY OR, INDEED, WHETHER THE STOCK MARKET CLOSED DOWN FOR FOUR DAYS.
HA
I COULD THAT HONG AND THAT WAS THE I WASN'T TRYING TO ·
JAMES TAM, OF SING PAO: SIR,
ACHIEVEMENT
GOVERNMENT HAS
MADE
IF YOU REALLY DIDN'T WANT то ASSESS YOUR PERFORMANCE IN THE PUBLIC, THEN MAY I ASK YOU IN THE
YOU HAVE MADE OR WHAT SEVEN MONTHS
UNDER YOUR LEADERSHIP
PAST
THE HONG IN BUILDING UP
KONO
THE
COMMUNITY?
/H.E.
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