The Common Market Talk No. 2

15/06/1963
Record Date
16/06/1963
Broadcast/Release Date
00:23:51
Recorded Duration
Cantonese
Recording Language
1997019969
Accession No.
Sound
Type
7 inch Open Reel Audiotape
Format
Access permitted
Conditions Governing Access
Use and reproduction require written permission from depositing agency/donor. Processing of reproduction request may require 7 working days.
Conditions Governing Reproduction
Synopsis :

The talk discusses the reason behind the formation of a Common Market with Malaysia. Because of the lack of experience, high costs and low output, local goods are less competitive in prices compared to foreign goods. In order to protect the local industries, the government is to impose an import tax on foreign goods so consumers will have to pay a higher price for them. With the formation of the Common Market, the market for local products will also be enlarged and there will be more opportunities for development within the industries.