United States Federal Reserve Chair Janet Yellen testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on the Semiannual Monetary Policy Report to the Congress on Capitol Hill in Washington DC on February 14, 2017. Photo: REUTERS
Jake Van Der Kamp
Opinion

Opinion

Jake's View by Jake Van Der Kamp

Need a scapegoat for Hong Kong’s property woes? Look west to US Fed policies, not China

Our housing woes are not due to a land shortage, slow building pace, developers’ greed, or to Chinese hot money. The root of the problem is that we are tied to US interest rates through our currency’s peg to the US dollar.

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United States Federal Reserve Chair Janet Yellen testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on the Semiannual Monetary Policy Report to the Congress on Capitol Hill in Washington DC on February 14, 2017. Photo: REUTERS
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