American interests stand to lose as much as $7 billion in investments. Recent events in the Persian Gulf have been a pointed reminder of our dependence on the stability of other countries for domestic economic stability. We have made a positive step toward ansuring stability for Hong Kong in the recent Immigration bill. This bill contained three provisions designed to give confidence and reassurance to the people of Hong Kong. First. it raises the visa quota from 5.000 to 10.000 per year. Second. it creates a special quota for Hong Kong employees of United States firms. Last. It stipulates that these visas are exercisable at the holders discretion any time until the year 2002. rather than the present 4 month deadline. Although these measures will help stabilize Hong Kong. they are not enough. I Included an amendment to H.R. 4939 which would provide that the President make granting of most favored nation status to China contingent on that government upholding the tenets of the SinoBritish Joint Declaration.
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Immigration visas visa