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  1. Comment - Letters

    Hong Kong not gaining from peg

    Posted May 06th 2013, 12:00am by LETTERS

    ... Peg is wiping out productivity gains of diligent middle class The Hong Kong dollar is pegged to the US dollar by a currency board. This obsolete arrangement is also used by other economies such as Bermuda, Antigua and Barbuda, and the Cayman Islands. The peg increases inflation, due to our inability to adjust the upward strength of the Hong Kong dollar. Whatever labour productivity gains ...

  2. In politics, a sweet salary and insults come with the job

    Posted May 18th 2012, 12:00am

    ... Bernard Chan The lead story in many Hong Kong newspapers on Tuesday was bound to arouse readers' interest: government ministers' pay will go up by 8.1per cent. Who can resist ... far fewer responsibilities for the running of Hong Kong and can say anything they please. We have even seen ministers' families being put under the spotlight. Obviously, in our system, we ...

  3. It can pay to be in politics

    Posted May 21st 2010, 12:00am by Baat Gwaa

    ... Baat Gwaa Baat Gwaa had an interesting brainstorming session recently with a good friend, Alice, for some ideas on how and where to find high-paying jobs in Hong Kong. As a political ... of hard work and toil before you can earn a decent salary,' Alice says. 'But if you are a young aspiring politician, all you need is a good cause and the support of a political party. ...

  4. Hong Kong's current attraction to the yuan may only be fleeting

    Posted Apr 21st 2011, 12:00am

    ... it is also an experiment... If it is successful, it will cement Hong Kong's role as a yuan trading centre. SCMP, April 20 Let's go straight to the pictures, always the best way of painting the background to a financial story. The first chart is the simple one. The latest figures show that there is now more than 400 billion yuan (HK$475.67 billion) on deposit in Hong Kong ...

  5. Political groups demand increase in 'fruit money'

    Posted Feb 10th 2008, 12:00am by Staff Reporter

    ... this year. All Hong Kong residents aged 70 or above are eligible for a standard allowance of HK$705 a month, regardless of their wealth, while those aged 65 to 69 can receive HK$625 a month ... Albert Wong Four political groups marched on Government House yesterday, urging the government to increase spending on the elderly and grass-roots issues for the coming year. ...

  6. The case for keeping Hong Kong's peg

    Posted Dec 11th 2007, 12:00am by Tom Holland

    ... of gravity sitting under an apple tree. And monetary economist John Greenwood devised Hong Kong's exchange rate link to the US dollar while lying under a coconut palm on the Micronesian island of Palau. When it was introduced, the link succeeded in halting a slide in the Hong Kong dollar and restored faith in the currency (see chart). But in the 24 years since the Hong Kong government put ...

  7. Business - Comment - MONITOR

    'Made in America' means added pain for Hong Kong

    Posted May 02nd 2013, 12:00am by Tom Holland

    ... added pain for Hong Kong For the past 10 years, Hong Kong's economy has been boosted by twin external superchargers. Now, both are in danger of breaking down. Part of the performance boost over recent years was provided by the rapid growth of China, which yielded a bonanza for the city's financial, trade services and retail sectors. But Hong Kong also got a propellant charge ...

  8. Business - Economy - CURRENCIES

    Pegging Hong Kong dollar against yuan 'could take years'

    Posted Apr 30th 2013, 12:00am by KANIS LI

    ... not come for years' The yuan will eventually be a feasible currency for Hong Kong to peg its dollar against, in place of the US dollar, said John Greenwood, known as the "father of the Hong Kong-dollar peg". However, Greenwood said, the yuan must be fully convertible and widely used before that day comes, which could take "many years". The chief economist ...

  9. Business - Comment - MONITOR TOM HOLLAND

    Blame greed, not the yuan, for Hong Kong's food price rises

    Posted Nov 07th 2012, 12:00am by Tom Holland

    ... for Hong Kong's food price rises "Stronger yuan to bring Hong Kong higher food prices", warned a headline in last Saturday's South China Morning Post. The article that followed quoted a clutch of importers and retailers, all saying much the same thing. With the Chinese currency testing its strongest levels against the Hong Kong dollar since 1993, they all warned ...

  10. Business - Money - TALKING POINTS

    Hong Kong takes dollar down a peg

    Posted Nov 05th 2012, 12:00am by Carl Berrisford

    ... in September, and then the Hong Kong dollar did exactly what it has done the two previous rounds of QE: trade at the bottom of its band against the US dollar at HK$7.75. So far it's unclear whether this is due to money coming from offshore, or because funds holding foreign currency in Hong Kong have decided to buy investments such as stocks and property. In any case, lots of people are buying ...




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