Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) was established in April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. The HKMA is responsible for maintaining monetary and banking stability, including maintaining currency stability within the framework of the Linked Exchange Rate system under which the Hong Kong dollar is pegged to the US dollar.
Every generation faces problems
I totally agree with Professor Wong Kin-yuen's comments in Young Post ('The Frustrated Generation', January 19) in which he said the post-80s generation has good reason to be frustrated.
It's true because these Hongkongers have been pushed to the limit. Either they cannot find a job even if they have a degree, or the job they do have pays them less than they deserve. Married couples have to spend a fortune to buy even a small flat and give their children a good education.
Because of all this, they get very frustrated.
However, they are not the only generation that has suffered. My parents and grandparents also faced problems at work and found it hard to make ends meet. But they found peaceful ways to solve their problems, and, best of all, they had lovely children.
Now, we, those children, can also help them. We can stop asking for unnecessary electronic gadgets. We can answer their questions patiently, and constantly show them we are always on their side.
I strongly believe our post-90s generation can, one day, give constructive advice to the government.
Sheik Zarifa, HKMA David Li Kwok Po College
From the Editor
Thank you for your letter, Zarifa. The post-90s generation should be giving the government feedback right now. If you see what is going on in the world - and I know you do because you read it all in Young Post - you'll notice that many countries are in financial trouble.
They are getting themselves out of financial trouble by 'borrowing' money from their children. In other words they are hoping that future generations will be able to pay back the loans they take now - in the form of tax.
Some are spending the money to stop banks from going bankrupt, others might be spending a lot of money on unnecessary things like weapons and space projects. You, all of you, will inherit this problem. These people are making debts for you right now. You need to know, and you need to speak up.