lion, seven hundred and twenty billion U.S. dollars, while
(3) that of North America, is estimated at seven trillion two hundred and ten billion U.S. dollars. These figures not only illustrate the great potential for development in the Asia-Pacif- ic Region, they also clearly show the Region's importance in global terms. I believe that Hong Kong constitutes a most active economic entity in this dynamic Asia-Pacific Region based on the following four points.
Firstly, the international climate has recently become far more favourable for the further development of Hong Kong. As I have already touched on, the economic developments in the Region have been relatively steady and stable. China is in the process of carrying out its reform and open-door policy, while trying to maintain stability. Furthermore, there are favourable indications for the maintenance of peace and prosperity in the Region, such as the growing momentum for an early settlement in the Cambodian peace process in the Indo-Chinese peninsula.
Such political stability helps to promote more active eco- nomic interaction in the region as a whole, whilst providing Hong Kong with a better environment in which to develop itself through competition and supplement with the countries in the Region under the free market economy.
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