DE
18-77
CONFIDENTIAL
Reference
Conclusion
12. While agreeing with the critique of the weak points of the link, the mechanism is not obviously malfunctioning. Indeed, it performs much as we have predicted. HKG have a lot to lose by a change, which must be balanced against the gains possible through some fine tuning of the arrangement. In such a calculation, the status quo probably comes out on top.
1 December 1988
نهه
M Wright
Economic Advisers WH426D
270 2728
MA 3AAA/3
CONFIDENTIAL