Hong Kongs Link to the US Dollar covers the origins of the citys currency crisis in 1983, the initial resolution of the crisis by creation of a traditional currency board, the subsequent problems leading to the Asian financial crisis of 199798, and the later reforms. A new final chapter traces monetary developments in Hong Kong between 2005 and 2020.This valuable compendium of articles, originally written in the bimonthly journal Asian Monetary Monitor between 1981 and 1989, includes the key article that formed the basis for the Hong Kong governments decision in 1983 to peg the currency to the US dollar, as well as other important documents of historical record.The main contribution of the book is its detailed monetary analysis of Hong Kongs unique financial system before and after the currency crisis of 1983. The book explains the collapse of the floating Hong Kong dollar under the pressure of capital outflows during the SinoBritish negotiations (198284) over the future of Hong Kong, the fascinating story of the introduction of the linked rate system pegging the Hong Kong dollar to the US dollar, and the subsequent gradual process of reform and refinement of the currency board mechanism (19882020). Hong Kongs Link to the US Dollar will enable readers to obtain a comprehensive picture of why the linked rate system was put in place, how it works, and how it has been strengthened over the years. The second edition extends the discussion to 2020.

Binding: Hardcover;362 pages; Publisher: Hong Kong University Press; Classification: N/A; Weight: 773.17 g; Dimensions: N/A

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