13 January 1991
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MAB 09/
Peter Heap Esq CMG
Senior British Trade Commissioner
HONG KONG
Dear Peter.
THE HONG KONG ECONOMY: THE EXCHANGE RATE
Foreign & Commonwealth
Office
London SWIA 2AH
1. Many thanks for your letter of 17 December (which took a little time to reach me since it was addressed to the DTI!).
We both agree
2. I have had a word with Simon Broadbent. that it would be very helpful if you could continue to let us have your reflections from time to time, as a well placed commentator on the Hong Kong economic/commercial scene. As you say, the Economic Advisers do keep in close touch with the Hong Kong Government, and we would not expect you to duplicate the detailed economic assessments produced by HKG. But impressionistic comments of the kind in your letter will always be very welcome.
3. We were indeed interested that the current dollar link remains so popular in the business community. On the inflation front, you might be interested to see the enclosed notes produced recently by the Economic Advisers. Simon Broadbent asks that you treat these as strictly for your own information: and in particular that you do not reveal to the HKG that you have received them.
You ever,
Peter Ricketts
P Ricketts
Hong Kong Department
cc. Mr S Broadbent
Economic Advisers
WEDADL
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