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Calls For Hong Kong Dollar to Switch from US pegging to Chinese Yuan. “Why Hong Kong must ditch the US dollar peg and switch to the yuan now” - Reported by Andy Xie Below excerpt reported by Xie. A. (2023, May 30). Why Hong Kong must ditch the US dollar peg and switch to the yuan now. South China Morning Post 'Hong Kong risks being increasingly led by US monetary policy, which could see property prices and the economy come crashing down' 'Switching to the yuan would mean stability and a unique chance to ride the currency’s rise before it becomes fully convertible' '“Hong Kong’s currency peg to the dollar is not sustainable. The city risks being increasingly led by US monetary policy as the utility of the fully convertible Hong Kong currency in meeting China’s demand for US dollars is fading. As global yuan demand grows, switching to that currency would boost Hong Kong’s financial fortunes.”' To read full article, click here Photo by Eric Prouzet on Unsplash Legal Disclaimer: … Read more
