For Deng, 'Iron Lady' had to yield on Hong Kong
Thatcher failed to talk paramount leader out of taking back Hong Kong
The lady was not for turning, but there were times when the Iron Lady had to bend.
During the historic talks with Deng Xiaoping in Beijing in September 1982, Margaret Thatcher told China's then paramount leader that Hong Kong could face disastrous consequences if Beijing insisted on resuming sovereignty over the city based on its policies.
"Those with money and skill would immediately begin to leave the territory and this would bring about an economic collapse, which could be irreversible," she said at the meeting.
Those with money and skill would immediately begin to leave the territory and this would bring about an economic collapse, which could be irreversible
Thatcher lobbied Deng to accept the formula of exchanging Hong Kong's sovereignty in return for continued British administration after the lease of the New Territories expired in 1997.
Deng, known as a leader with a strong will, responded that sovereignty was not a matter which could be discussed and Beijing would certainly regain sovereignty over the city in 1997.
Professor Zhang Tongxin, former director of Renmin University's Taiwan, Hong Kong and Macau Research Institute, said Thatcher went into the negotiations with a tough stance. "But she came to realise China's firmness on taking back Hong Kong. The negotiations were very difficult at the beginning, but Mrs Thatcher was able to adopt a pragmatic way of thinking, which led to a not-so-rough transfer of sovereignty," Zhang said.
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