FCO 40/3225
DIEU-E
has been estimated that non-renewal of China's MFN could result in a loss of some 43,000 Hong Kong jobs, a drop of up to a half in Hong Kong's current GDP growth and a loss of USD9-12 billion in trade. American commercial interests and investment in Hong Kong would also be adversely affected.
There have been some calls for renewal to be made subject to conditions. But this too would be bad for Hong Kong. The resulting uncertainty would be a major disincentive to investment in Hong Kong."
Ows ever
Siben
ди
(S L Gass)
Private Secretary
J S Wall Esq
10 Downing Street
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