STATEMENT OF CHAIRMAN SAM GEJDENSON
SUBCOMMITTEE ON INTERNATIONAL ECONOMIC POLICY AND TRADE MARK-UP OF H.CON.RES. 227 FEBRUARY 5, 1990
THE SUBCOMMITTEE ON INTERNATIONAL ECONOMIC POLICY AND TRADE TODAY MEETS TO MARK-UP H.CON.RES. 227, CONCERNING THE ESTABLISHMENT OF A MULTILATERAL INITIATIVE TO PROMOTE CONFIDENCE AMONG THE PEOPLE of HONG KONG. THIS RESOLUTION WAS INTRODUCED BY MY FRIEND AND COLLEAGUE, AND THE CHAIRMAN OF THE SUBCOMMITTEE ON ASIAN AND PACIFIC AFFAIRS, REP. STEPHEN SOLARZ. IT WAS APPROVED BY THE SUBCOMMITTEE ON ASIAN AND PACIFIC AFFAIRS ON NOVEMBER 14, 1989.
THE VIOLENT SUPPRESSION OF THE PPO-DEMOCRACY MOVEMENT IN CHINA HAS EXACERBATED A CLIMATE OF INSTABILITY IN HONG KONG. THE CRACKDOWN HAS HEIGHTENED CONCERNS THAT HONG KONG'S POLITICAL, HUMAN RIGHTS AND ECONOMIC SITUATION COULD SERIOUSLY DETERIORATE AFTER ITS REVERSION TO CHINESE RULE IN 1997. HONG KONG RESIDENTS REMAIN UNCONVINCED THAT THE BRUTAL CHINESE LEADERSHIP WILL RESPECT THE RIGHTS WHICH ARE GUARANTEED TO HONG KONG RESIDENTS IN THE JOINT DECLARATION GOVERNING THE TRANSFER OF HONG KONG TO CHINESE RULE.
H.CON.RES. 227 IS AN ATTEMPT TO SHORE-UP CONFIDENCE IN HONG KONG'S FUTURE. THE RESOLUTION ENCOURAGES THE BRITISH GOVERNMENT TO LEAD A MULTILATERAL EFFORT TO PROVIDE HONG KONG RESIDENTS WITH THE RIGHT TO LIVE ELSEWHERE AFTER 1997 IF THE SITUATION IN HONG KONG DETERIORATES. HONG KONG RESIDENTS, ACCORDING TO THIS PLAN, COULD HOLD THIS RIGHT TO LIVE ABROAD IN RESERVE AND CONTINUE TO LIVE AND WORK IN HONG KONG.
THE RESOLUTION ALSO URGES PRESIDENT BUSH TO WORK CLOSELY WITH THE BRITISH GOVERNMENT TO FURTHER THIS MULTILATERAL INITIATIVE AND TO CALL A MULTILATERAL CONFERENCE TO PROMOTE INTERNATIONAL COOPERATION WITH THE HONG KONG STABILITY EFFORT.
FINALLY, THE RESOLUTION CALLS ON THE SECRETARY OF STATE TO SUPPORT EFFORTS TO ENHANCE HONG KONG'S STATUS AS AN INTERNATIONAL FINANCIAL CENTER. HONG KONG'S ÉCONOMY MUST BE STRONG AND PROSPEROUS WHEN IT IS TURNED OVER TO CHINESE CONTROL IN 1997. IF HONG KONG'S ECONOMY IS ON THE ROCKS BECAUSE THERE IS LITTLE CONFIDENCE IN HONG KONG'S FUTURE, THE CHINESE GOVERNMENT MIGHT USE HONG KONG'S ECONOMIC TROUBLES TO CHIP AWAY AT ITS ECONOMIC FREEDOMS. THE UNITED STATES MUST PLAY A LEADERSHIP ROLE IN PROMOTING A SOLID ECONOMIC FUTURE IN HONG KONG, GIVEN THAT U.S. TRADE WITH HONG KONG AMOUNTED TO OVER $16 BILLION LAST YEAR.
I WOULD LIKE TO COMMEND CHAIRMAN SOLARZ FOR INTRODUCING AND MARKING-UP SUCH AN IMPORTANT RESOLUTION. I HOPE THAT PASSAGE OF THIS RESOLUTION WILL SEND A STRONG SIGNAL THAT GREATER MULTILATERAL EFFORTS MUST BE MADE IMMEDIATELY TO BOLSTER CONFIDENCE IN THE FUTURE OF HONG KONG.
No comments yet.
Private notes are available after approval.