JUNE 1996 and Most Favoured Nation (MFN) season has come and gone without a single mention in Hongkong. Because of her ongoing transformation into a ''socialist market economy'', the People's Republic of China has become increasingly integrated into the regional and world economies, taking her rightful place in the international community. Hongkong's proximity and trade expertise continue to be major factors in China's economic success.
In addition to the booming economy, China has improved her human rights record to the extent that several companies that had earlier pulled out of China, including Levi Strauss & Co., which left in early 1993 citing ''pervasive violation of human rights'', have returned to do business. When the Chinese premier held a press conference to announce China would accede to the International Covenants on Civil and Political Rights (ICCPR), he noted it would be good for business.
SUCH a scenario as the above is not impossible. But for the moment, as for every May and June since 1989, we must deal with MFN. Last month, a bill setting out human rights, trade, and other conditions for the renewal of China's MFN status was introducedin the United States Congress.
And, following a lobbying trip to the US by Governor Mr Chris Patten, US President Mr Bill Clinton is expected to make his recommendation to Congress on this matter before June 3.
One thing is clear: the credibility Mr Patten gained through his democratic reform initiative for Hongkong has made him a more effective lobbyist for MFN renewal. Indeed, Mr Clinton emphasised to Mr Patten that he was encouraged by China's steps toward economic reform, but they should be accompanied by ''responsible behaviour, respect for human rights and movement towards a more democratic society''.
While the various arms of the US Government spend several months deciding whether to extend MFN tariff treatment for imports of goods from China, Hongkong is inevitably drawn into the fray.