Cost of keeping the dollar peg goes beyond defence
Philip Bowring says giving control of Exchange Fund assets to their owners, the citizens of Hong Kong, would be better than leaving the money at the disposal of local bureaucrats
Philip Bowring has been based in Asia for 39 years writing on regional financial and political issues. He has been a columnist for the South China Morning Post since the mid-1990s and for the International Herald Tribune from 1992 to 2011. He also contributes regularly to the Wall Street Journal, www.asiasentinel.com, a website of which he is a founder, and elsewhere. Prior to 1992 he was with the weekly Far Eastern Economic Review, latterly as editor.