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through failing to secure contracts that they might otherwise have won). Ambassador Ma was lobbying busily in the UK, expressing concern over the possible fall-out from the row. In private conversation it was clear that the business community was under intense pressure but did not want this surfaced.
4. Lord Young summarised the overt mood of the gathering when he concluded that "we are all fully behind (HMG) all the way.
until the next difficult decision". But they all hoped the disagreement with China would not go on for too long; for some, this timescale was longer than for others (about 3 years in Lord Young's case).
5. The businessmen all seemed pleased to have an opportunity to air their views. They did not press for details as to how HMG and Governor proposed to resolve the problem over Hong Kong but clearly assumed that secret channels were in play. Tactically, this occasion can have done no harm and probably helped to steady nerves. The businessmen are obviously deeply worried but do not want to appear so in public.
6.J. Davey'
G J Dorey
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