TNAG-1821-FCO40-2584-Emigration-from-Hong-Kong-1988 — Page 199

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1990s or later.

Meanwhile, the demand among ordinary people to

There is no sign that Hong

buy houses and apartments is extremely strong, and new share

issues are heavily oversubscribed.

Kong people are afraid to invest their money in Hong Kong.

It is worth remembering that emigration has been a

fact of life in Hong Kong since the last century. Hence, in

large part, the large Chinese communities that now exist in the

United States, Canada, Australia and Britain. The level of

emigration has been much the same as it is now for more than

twenty years. Those leaving now include some who count 1997

among their reasons. But many others leave for traditional

reasons, principally to join family members already abroad. of

those leaving for "confidence" reasons, quite a few, having

obtained their "insurance policy" have already returned to Hong

Kong to live and work, because they prefer its life style and

the opportunities provided by its dynamic economy. If

confidence, both political and economic, is maintained more

will do so.

There are of course real worries about the future.

1997 will be a significant change, however much its impact can

be minimized by sensible policies and good co-operation amongst

all concerned. Currently it is the political rather than the

economic future that attracts the most attention. Hong Kong

people are watching closely as the Chinese draft the Basic Law,

which will give effect under the Chinese constitution to the

provisions of the Joint Declaration. A number of Hong Kong

people participate in the drafting committee.

There has been