The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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Elroy Jetson

pak73

To: Elroy Jetson who wrote (2585)	7/1/2019 12:46:27 PM
From: elmatador	2 Recommendations of 13798

The US government is required by law to monitor the governance of Hong Kong, pursuant to the US-Hong Kong Policy Act of 1992. The act stipulates that Hong Kong’s special, beneficial status can be revoked by the US administration should a review determine that it is not sufficiently autonomous to justify different treatment from mainland China. The European Union also has bilateral relations with Hong Kong and has conducted an annual reviewof the city since the 1997 handover. Imagine a frightening scenario where Hong Kong suffers from massive capital outflows. The stock market plummets, property prices tumble and confidence evaporates. To protect themselves, residents instinctively convert their Hong Kong dollar savings into safer currencies such as US dollars and euros. ... The unintended consequence of these countries’ fixed or semi-fixed exchange rate regimes was that their currencies were allowed to become severely overvalued, thereby diminishing the attractiveness of their economies and creating the perception of heightened investment risk among international capital providers scmp.com

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