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  1. Hong Kong SAR's Monetary and Exchange Rate Challenges

    Posted Mar 15th 2009, 12:00am by Sean Kennedy

    ... So far currency boards have not been in the spotlight- probably because the current crisis has yet to push Asian currencies to the brink of collapse. Hong Kong is weathering the storm better ... As Warren Buffett observed: 'It's only when the tide goes out that you realise who's been swimming naked.' It was only the onset of the Asian currency crisis that revealed Hong ...

  2. HKMA chief pledges to stick with dollar peg

    Posted Apr 04th 2008, 12:00am by Enoch Yiu

    ... against all currencies would cause Hong Kong domestic prices to increase by 0.82 per cent in the short run and 1.61 per cent in the medium run, he said in his column on the HKMA website. ... in the report. Since the Hong Kong dollar had fallen along with the US dollar against the yuan and other currencies such as the yen, euro and pound, import prices had risen, he said. To solve ...

  3. US economy's fate may rest with Asia

    Posted Jan 09th 2004, 12:00am by Peter Kammerer

    ... Peter Kammerer Foreign Editor A currency crisis could result if the region stops buying the dollar The fate of the US economy could rest in Asia's hands, regional economists suggested ... States, it could result in a downward spiral of the US dollar, which could prompt a currency crisis. Deutsche Bank's chief economist for Asia, Michael Spencer, agreed. A sharp rise in US ...

  4. Crisis memory fades as 1997 levels regained

    Posted Oct 17th 2007, 12:00am by Tom Holland

    ... of the regional crisis. It is likely the won would have appreciated even more against the US currency without central bank intervention to stop it rising too much relative to the Japanese yen. However, ... by the end of next year, surpassing its level at the start of the 1997 crisis. Other regional currencies are widely expected to climb, too, over the next 12 months, including the Malaysian ringgit ...

  5. Asia's cash hoarders show crisis mindset

    Posted Oct 29th 2003, 12:00am by Jake Van Der Kamp

    ... their currencies, which had generally been rigged at artificially strong levels. That attempt inevitably failed, of course, and the result was the Asian financial crisis of 1997-98. Now they are doing ... a doubling in five years. You could ordinarily expect this in the fallout of the 1997/98 crisis. In currency crises you tend to see domestic investment decline and the income from the current account ...

  6. Could the US dollar really collapse 33pc in a single day?

    Posted Nov 21st 2011, 12:00am

    ... investors stood by US dollar assets. During the month leading up to the potential debt crisis, the US currency was flat while the price of US Treasury notes actually rose. Second, the world's ... is ushered in by a new financial crisis in which the US dollar loses a third of its value in a single day. In Chan's book, the US dollar's collapse is a handy plot device. ...

  7. Staying the course

    Posted Oct 14th 2008, 12:00am by Tony Latter

    ... The current economic crisis presents no reason to drop Hong Kong's US-dollar peg, writes Tony Latter Members of the Executive Council looked bemused. The mechanics of a currency board ... discretionary monetary policy, in the sense, for example, of managing bank liquidity or interest rates. This inescapable truth, largely dormant since 1972, finally dawned as the 1983 currency crisis ...

  8. Attack on HK dollar unlikely, say experts

    Posted Oct 11th 2008, 12:00am by Dennis Eng, Paggie Leung

    ... Paggie Leung and Dennis Eng As the plunge of some Asian currencies stokes memories of the financial crisis a decade ago, economists say the Hong Kong dollar will probably not be attacked ... there may be less incentive for speculators this time compared with the Asian financial crisis, given the greater uncertainty about how the local currency would react. He said the government would ...

  9. Global reserve currency proves to be a curse for the issuing country

    Posted Oct 15th 2011, 12:00am

    ... is strong, but it will go into crisis when the reserve-currency country goes into crisis. This is the current state of affairs. The four reserve-currency economies (the US, the euro zone, Britain ... of a global-reserve-currency country and the needs of the world that uses that reserve currency. Triffin predicted that the reserve-currency country would run a current-account deficit to provide the world ...

  10. HK dollar being sold short, but don't panic

    Posted Apr 16th 2007, 12:00am by Tom Holland

    ... Tom Holland Don't panic, but international speculators are once again targeting the Hong Kong dollar. Just as in the bad old days of 1998 during the Asian currency crisis, investment banks are advising their hedge fund clients to sell the Hong Kong dollar short against the US currency. This time around, however, they are not expecting to make huge profits from breaking ...




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