Word: foreign
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Dates: during 1960-1969
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...were the Viet Nam war and what is to follow when it ends. As they charted their continent's future course, Asia's leaders argued with out exception that the U.S. must continue to play a prominent role. Talking with tour members in Bangkok, Thailand's Foreign Minister Thanat Khoman urged the U.S. to abandon its tendency to talk about "so-called priorities" between trouble spots in Europe, Asia, the Middle East and elsewhere. Thanat's explanation was straightforward: "The people who live in lesser-priority areas will feel degraded...
...Singapore's famed Raffles Hotel, tour members lunched with Prime Minister Lee Kuan Yew, who warned against a precipitate withdrawal of U.S. troops from Viet Nam. At week's end the travelers jetted off to Indonesia for conferences with President Suharto and Foreign Minister Adam Malik. Visits to South Korea and Japan lay ahead before they crossed the international dateline on the trip home...
Land prices are nearing record levels, and choice industrial sites sell for $23 per square foot, more than ten times the price of comparable U.S. industrial sites. About 140 U.S. firms have moved their offices from Japan to Hong Kong, and foreign investors have been attracted by the fact that the colony has no capital gains tax and a maximum tax on gross income of only 15%. Wages remain low, averaging $13.50 for a 50-hour week, but per capita annual income has risen in three years from...
...tourism that were ceded to Britain in perpetuity by China's emperors. Legalities aside, Red China could overrun Hong Kong in 24 hours whenever it wished. What permits business optimism is the belief that Peking finds the status quo alluring. Red China earns nearly half of its foreign exchange-upwards of $500 million a year in hard currency-by trading with and through the crown colony. Some $100 million of that amount comes in remittances from overseas Chinese that flow through the colony's banks; Peking owns or controls ten banks and innumerable other businesses in Hong Kong...
...immediate economic peril comes from Hong Kong's main foreign friends. Fully 95% of the colony's manufactured items are exported, and half of them are in textiles. Threats of U.S. restrictions on imports have stimulated many manufacturers to diversify into plastics, toys and wigs. Says P. Y. Tang, a textile millionaire: "The disturbances of 1967 did not worry me at all. They didn't hurt us. But quotas on our goods abroad do worry...