| Abstract | For Hong Kong, Brazil's safeguard measures led to an immediate slow-down in toy exports in 1996. On top of the initial loss due to the 1996 provisional safeguard measures, the new safeguard measures will seriously reduce Hong Kong's toy exports to Brazil, but have only a minimal effect on Hong Kong's total exports to Brazil. Provided that Brazil's inflation remains under control, the market's growing import demand should more than offset the negative impact of the safeguard measures on Hong Kong's total exports to Brazil. During the first quarter of 1997, Hong Kong exports to Brazil recorded an increase of 34%. |
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