FAC (Cont'd) 8/12/93 SAC/L
a nominal gross domestic product of perhaps $800 billion and GDP in terms of purchasing power of perhaps £3000 million, putting her quite close to Japan, perhaps even slightly ahead of Japan, and ahead of any European country excluding Russia.
Secondly, politically coherent, by which I mean neither subject to political paralysis because of factionalism within the Party or government, or both, or involving the military.
Nor, even less fragmented back to as it existed in the 1920s.
Thirdly, internationally confident. I see that Mr Shambaugh talked about the confidence, rather more than confidence, almost arrogance of some of the officials he had spoken to during his recent visit to China. China is for the first time in 150 years now a confident nation, and that will colour behaviour a very great deal.
What will our interests be in relation to that sort of China? First to have a proportionate share of a very big Chinese market, perhaps 5 per cent of an import market of $150 billion, worth to us $7.5 billion; secondly that we should be dealing with China through the EU in the GATT as a country with which all sorts of problems of trade policy will have to be discussed; thirdly ensure that British views on global political issues and economic and cultural issues are heard and respected in Peking.
What will this require? First of all a resolute and sustained campaign of trade and promotion, not only by the Government agencies which act as catalysts, but also by British industry, commerce and the City.
Increased Ministerial visits in each direction, and
and I would say that visits by Chinese ministers to this country are even more rewarding in terms of British interests than the other way round. A great deal more education about China in this country on which I will enlarge later if you wish me to, Chairman, I again pick up a point made by Mr Shambaugh and by Sir Percy a few moments ago. And finally it will depend on our own degree of political and economic
success in the world.
If I may I will quote an anecdote; I went to Peking very shortly after the Falklands war, and shortly after I arrived I went to a dinner party given by the military I believe it was
-
29
No comments yet.
Private notes are available after approval.