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demonstration of the foresightedness of the Chinese Government,
and a success for British diplomacy. The joint declaration
remains, in our view, the only sound basis for Hong Kong's
future.
In the Government's view the Bill now before the House does not
contravene that agreement or detract from its importance in any
way.
On the contrary, its purpose is to meet the obligation laid
on Britain by the declaration to work to maintain Hong Kong's
prosperity and stability in the run-up to 1997.
Professional,
The Bill addresses a real and present threat to that objective.
Hong Kong faces rising emigration and falling morale. The
numbers leaving each year have doubled since 1986 from 20,000
to over 40,000 and are continuing to rise.
managerial and technical personnel represent a significant
proportion of this exodus, far in excess of their numbers in the
population.
economy and stability cannot
indefinitely survive such a haemorrhage of talent and enterprise.
Hong Kong's
Last summer my rt hon and learned Friend the Lord President
visited the territory and reported to the House on the traumatic
effect there of the events which had taken place in Tiamanmen
Square. A further account of the difficulties facing Hong Kong
was provided by the House Select Committee on Foreign Affairs in
its report of 28 June.
The rationale for the proposals now before the House remains as
set out by my rt hon
my rt hon Friend the Foreign Secretary in his
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