Joseph Yam Chi-kwong, former head of the HKMA, pictured in 2018. Photo: Edmond So
Currency peg vital for Hong Kong’s status as global finance centre even as US dollar declines, says former monetary authority chief Joseph Yam
- Yam, who helped set up the peg in 1983, still believes it is in the best interests of Hong Kong because it gives confidence to international investors
- US unlikely to ‘weaponise’ the peg or capital markets as it would hurt itself in the process, says Yam
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Hong Kong Monetary Authority (HKMA)
Joseph Yam Chi-kwong, former head of the HKMA, pictured in 2018. Photo: Edmond So