Deng Xiaoping meets Margaret Thatcher in Beijing on September 24, 1982. Picture: AFP

How the Hong Kong dollar peg saved the day in 1983, when local currency was in ‘free-fall’

As Sino-British talks resumed in the 1980s to decide on the territory’s political future, tensions flared in Hong Kong, leading to an exchange rate that was described at one point as being at ‘banana republic levels’

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Deng Xiaoping meets Margaret Thatcher in Beijing on September 24, 1982. Picture: AFP
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