TNAG-1880-FCO40-2671-Student-demonstrations-and-internal-political-situation-in-C-1989 — Page 98

He who goes against this historical trend will face the opposition of the

1.1 billion people of China. From the mid-term and long-term points of view, the future of China is still bright and so is that of Hong Kong.

Hong Kong BLDC and BLCC members take part in the drafting of

the Basic Law to help implement the Joint Declaration and thus to..

serve the people of Hong Kong. Although Louis CHA and Rev. Peter KWONG

resigned from the BLDC under different circumstances, everybody hopes that they would take into consideration the well-being of the whole and make their judgement over long-term development. Taking part in the preparation of the Basic Law is by no means a gesture to bolster

communism, the least to bolster the blunderous administrative decisions

of the communist regime in the mainland. The objective of the 3asic Law is to put into practice the "one country two systems" principle,

thereby Hong Kong can have policies and a social system that are different

from the mainland. Therefore, the BLDC members should proceed with their

original plan, regardless of how the communist regime handles the student movement. Being a BLDC member does not imply support for 3eijing's wrong attitude towards the student movement. So, those BLDC members who have

resigned might as well withdraw their resignation while the others try

their best to ask them to stay.

The unity and cooperation of the people of Hong Kong is a major factor in the territory's stability. In face of the chaos in China, it is

even more important for Hong Kong people to stand as one to preserve the conditions and factors of stability.

Turnmoil Deals a Blow to the Economy of Hong Kong

The turmoil in Beijing will certainly affect the confidence of

Hong Kong and deal a blow to its economy.

undesirable

Nevertheless, there will be/consequences if the pessimistic

sentiment in the stock market and the financial sector intensifies.

Although the wish to exert pressure on Beijing in this way to ensure proper handling of the student movement is well-intentioned, Hong Kong

will be the first to be hurt. If foreign capital pulls out of the territory owing to the unduly pessimistic sentiment in the economy, Chinese investors, Hong Kong industrialists and workers will all suffer.

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