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Defending HKD

26 Jul 2022
It was almost 24 years ago, in the summer of 1998, when Hong Kong government won a hard-fought battle to defend the Hong Kong dollar against speculative attacks led by hedge fund legend George Soros. However, the distant memories of 1998 are engraved deeply in every single Hong Kong families where the anxiety of stream capital outflow always trigged the public panic and often questioning the legitimacy of the Hong Kong’s Linked Exchange Rate System.

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