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10
happening are obvious. As Hong
Hong Kong reaches out to the
rest of the world, it is natural, perhaps inevitable, that
the world will want to be part of Hong Kong's business
scene.
21.
Recently the stresses and strains on Our economy
have been formidable. We have
have always boasted Of our
adaptability, but over the last twelve months ot SO the
boast has been sorely tested.
Nevertheless, Hong
Hong Kong's
industry is still operating successfully despite fierce
competition all round the region. Meeting new demands has
pitted employer against employer in a battle for scarce
labour resources. Hence our extremely low unemployment
figures and, I am afraid to say,
to say, the wage-led inflation of
the last three years.
}
22.
Hence also our need to proceed urgently with the
construction of new sea and airport facilities, and all
the associated infrastructure. Our container port, already
the busiest and fastest in the world in throughput terms is
rapidly approaching capacity. So also is our airport. Its
computerised freight terminal is under pressure. And those
of you familiar with the swooping turn amongst the clothes
lines and down over chequer-board hill no doubt recognise
efficient, but perhaps lacking in passenger
Kai
Tak as
appeal.
/23.
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