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Rethinking the Linked Exchange Rate System in Hong Kong

09 May 2023
On Thursday of last week, Eddie Yue, the Chief Executive of the Hong Kong Monetary Authority, reiterated his support for Hong Kong's Linked Exchange Rate System, in the wake of the news that the city's banking system had slipped below an aggregate balance of HKD 50 billion. Yue's statements can be distilled into two principal arguments:

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