TNAG-2468-FCO40-3592-Most-favoured-nation-status-for-China-Hong-Kong-interests-1992 — Page 173

BUREAU OF BEFORE THE

STATEMENT BY

RICHARD H. SOLOMON ASSISTANT SECRETARY

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EAST ASIAN AND PACIFIC AFFAIRS HOUSE FOREIGN AFFAIRS COMMITTEE

MAY 7, 1992

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CHAIRMAN SOLARZ, REPRESENTATIVE LEACH AND MEMBERS OF THE

SUBCOMMITTEE:

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Mayky (Ac(annel)

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and MFN file me.

THANK YOU FOR THE OPPORTUNITY TO APPEAR BEFORE YOU TODAY TO

DISCUSS U.S. POLICY TOWARDS HONG KONG. IN MARCH, DURING MY

VISIT TO HONG KONG, I HAD THE OPPORTUNITY TO MEET WITH GOVERNOR

WILSON, MEMBERS OF THE LEGISLATIVE COUNCIL AND KEY BUSINESS AND

COMMUNITY LEADERS. I CAN TELL YOU THAT CONFIDENCE IN THE

TERRITORY IS HIGH AND THAT PEOPLE THERE ARE KEENLY INTERESTED

IN OUR DELIBERATIONS HERE TODAY.

LET ME ADD THAT AS A FORMER RESIDENT OF THE TERRITORY AND

AS A CHINA HAND FOR MORE THAN THREE DECADES, THE FUTURE OF HONG

KONG IS A SUBJECT OF GREAT PERSONAL INTEREST. HONG KONG IS

PERHAPS THE WORLD'S MOST DRAMATIC EXAMPLE OF FREE ENTERPRISE;

ITS CONSIDERABLE SUCCESS TESTIFIES TO THE RESULTS THAT FREE

MARKETS, HUMAN ENERGY AND DISCIPLINE CAN PRODUCE. HONG KONG IS

NOW AN ENGINE OF THE REMARKABLE GROWTH TRANSFORMING THE ECONOMY

OF SOUTHERN CHINA. I WOULD ALSO NOTE THAT HONG KONG'S FATE

AFTER 1997 WILL BE A MEASURE OF CHINA'S OWN REFORM EFFORTS AND

OF ITS RELATIONSHIP TO THE INTERNATIONAL ECONOMIC AND POLITICAL

SYSTEM.