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51 N 1
SECRETARY OF STATE'S INTERVIEW WITH MR JOHN NEWHOUSE
(JOURNALIST NEW YORKER/WORLD MONITOR PROGRAMME): 2.30 PM,
31 MAY 1991
MFN STATUS FOR CHINA
Bull Points
Pleased that the President has decided to renew China's
MFN status. Hope that Capital Hill will also vote for
renewal.
Non-renewal of MFN would result in the loss of about 40,000 jobs in Hong Kong and a halving of their current GDP
growth.
Conditional renewal which created uncertainty would be as serious for Hong Kong as non-renewal: would lead to
reluctance to invest.
- US interests in Hong Kong in the form of American companies resident in Hong Kong and US investment in the territory will be safeguarded by renewal.
Appreciate that there are current concerns over China
its human rights record, prison labour exports, and arms proliferation. But the best way to promote change in China is not to isolate it, but to continue trade and contacts.
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