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.
The need to schweeb
My friends and I are annoyed by traffic jams in Hong Kong, especially during festivals and rush hours.
To solve the problem, the government has been building flyovers and new roads like the one that connects the Central and Wan Chai. Sadly, the problem still exists. Is there any other solution?
A recent article in the Young Post (March 9) gave me hope. Geoffery Barnett of New Zealand has come up with a human-powered monorail - the 'schweeb'.
It's like riding a bicycle in mid-air. It is safe and environmentally friendly. The reclining seat is comfortable and there is a weather-proof capsule.
Imagine, if most commuters in Hong Kong were 'schweebing' during rush hours, traffic would be much smoother. The spectacular view from the Schweeb would also attract tourists to Hong Kong.
The government should give the 'schweeb' a thought.
Cecile Wong, HKMA David Li Kwok Po College
From the Editor
Thank you for your letter, Cecile. Hong Kong's traffic jams are a nightmare, although not as bad as places like Bangkok. At first glance, the schweeb looks like an ideal solution. Not only would they ease congestion but they are environmentally friendly and offer much needed exercise to Hongkongers.
But they are not a practical way to solve traffic congestion. They could really only be used by fit folk, and would require kilometres of rails, monitoring equipment and a lot of money.
Perhaps we need to come to some other arrangement regarding festivals. I wonder what innovative ideas Young Post readers can come up with.