CONFIDENTIAL
OVER THE PAST COUPLE OF YEARS SOME SENIOR MONETARY OFFIC HALS TOYED WITH REINTRODUCING THE OLD REGIME. BUT THEY REJECTED T BECAUSE THEY THOUGHT IT WOULD BE TOO HARD TO MAINTAIN THE OFFICIAL EXCHANGE RATE IN A CHANGING ECONOMIC ENVIRONMENT. THAT MAY BE TRUE, BUT IF THE GOVERNMENT WANTS TO SAVE HTS CURRENCY, AND PERHAPS HTS ECONOMY AS WELL, IT SHOULD PUSH AHEAD WITH THE PLAN. A RIGID CURRENCY SYSTEM THED TO FOREIGN ASSETS MAY BE THE ONLY WAY THE HONG KONG DOLLAR CAN WITHSTAND POLITICAL PRESSURES.
ROBERT MAGNUSON AS THE ASHAN WALL STREET JOURNAL'S HONG KONG BUREAU CHIEF. JAMES LEUNG, FORMER HONG KONG BUREAU CHIEF, NOW HEADS THE JOURNAL'S SINGAPORE BUREAU.
UNQUOTE.
YOUDE
LIMITED HDD /HKD AR GIFFARD
-4-
CONFIDENTIAL
No comments yet.
Private notes are available after approval.