CONFIDENTIAL
FM HONG KONG
TO DESKBY 271300Z FCO TELNO 611
OF 271015Z FEBRUARY 91
INFO DESKBY 28010OZ PEKING
CONFIDENTIAL
me Paul, 447
106261
MDHIAN 5621
I think it would be sensible to ark Hk to repeat telegrams reporting the balles to Canbera for
arrival. (He arrives the at 0608252 + deporti 1006152)
INFO IMMEDIATE UKREP JLG HONG KONG Loco
MY TELNO 598 : PADS : THEY WAY AHEAD
But in
1. MY TWO IFTS CONTAIN OUR PROPOSED AGENDA FOR MY DISCUSSION OF THE AIRPORT WITH LU PING ON 4 MARCH AND A DEFENSIVE BRIEF COVERING POINTS THAT THE CHINESE MAY RAISE ARISING FROM THE THIRD ROUND OF EXPERT TALKS. WE ARE STILL REFINING THESE PAPERS, BUT IT WOULD BE USEFUL TO HAVE ANY PRELIMINARY COMMENTS THAT YOU MAY HAVE ON THEM DESKBY 28003OZ (28050OZ FOR PEKING).
2. THE REASON BEHIND THE SELECTION OF THE FIGURE OF DOLLARS 75 BILLION (PARAGRAPH 4.1 OF MIFT) IS THAT, ACCORDING TO OUR FORECASTS, THE LOWEST POINT OF THE TOTAL FISCAL RESERVES (INCLUDING THE LAND FUND) BETWEEN NOW AND 1997 WILL BE DOLLARS 91 BILLION, UNDER OPTION 2 IN 1995/96. THE FIGURE OF DOLLARS 75 BILLION ALLOWS US A CONTINGENCY MARGIN. IT IS STILL 10 PER CENT MORE IN REAL TERMS THAN THE LEVEL OF RESERVES AT THE END OF 1984/85.
3. WE WILL TELEGRAPH TOMORROW (28 FEBRUARY) A DRAFT MESSAGE FROM MACLEOD TO LUO.
WILSON
YYYY
ΜΑΙΝ
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COMED
ECONOMIC ADVISERS
DISTRIBUTION
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CONFIDENTIAL
сре
Mrstme
Cpl draft a tel
W/27/2
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