be on-lent to the JVC. As such, they
regarded themselves as entirely distinct
from the JVC, and requiring their own
assurances and guarantees from the JVC. There was clear tension evident in early meetings, when BoC refused to attend any of the commercial negotiations, and were
unhappy at having JVC "observers" in the negotiations.
(b) The China Light and Power interests, which had previously been the UK's "ally" in setting up the project, were now clearly
on the other side of the table, aggressively pressing for concessions. Indeed, CLP provided considerable "commercial" and "operational" expertise, and individually provided undoubtedly the sharpest financial negotiator. It is interesting also how,
whilst the CLP presence and expertise
were strong in the early stages, as the decision-point approached, the Chinese component grew progressively more assertive and dominant. But masked contacts continued.
THE COINAGE
In the initial Memorandum signed by the Governments, it had been clear that the technical and commercial negotiations
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