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means systematic and certainly have no policy implications. I may even say that we are we don't have enough knowledge of the possible effects
of such a trend. Perhaps, this is because published material on the different types of investment activities in the Pearl River Delta by Hong Kong in the four categories of investment are very fragmentary.
[Now I would like to talk about the social implications of such a
development trend. Since
Since most investment that has moved to China is
in the form of productive capital, this has an effect on the employment
opportunities in Hong Kong. I have pointed out before that many
industrialists who have moved whole production lines, even entire factory undertakings into China. Under such circumstances the hardest hit are workers in Hong Kong and in fact some labour disputes arise from this. Furthermore, according to some workers and labour unions,
there have been unpleasant situations arising in certain quarters. For instance, the wages of some workers have been pushed low and some workers have been forced to live on very meager nominal wages as a
result of underemployment. All in all, problems will arise.
employment opportunities and wage levels. The situation will not be serious when the overall economic performance of the ferritory is good 21 and when the overall supply of labour is tense, but when the economy
takes a turn for the worse, problems will surface. Problems will be made more serious if workers cannot change trades smoothly.
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Close economic ties between Hong Kong and China is a natural trend and that has had an effect on the overall economic development in both places. However, in summary I believe that an integrated economic and social analysis of the trend outlined above is necessary. On that
Firstly, basis I would like to make two suggestions. ene, în view of the fact that 30 the Hong Kong has the most readily available information I would like
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ruch to suggest that a branches and departments of Government as Economic Services Branch, Education Manpower Branch, Labour Department, Industry Department and Trade Department set up departmental and inter-depart- mental working groups to study the situation and Hong Kong's response to the trend towards close relationship between Hong Kong and China economically to Hong Kong's role in China's economy, especially in the
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