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Strategies & Market Trends : HONG KONG
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To: Tom who wrote (2183)8/27/1998 9:43:00 PM
From: Dayuhan  Read Replies (2) of 2951
 
Tom,

An odd train of thought is running around my head this morning, and I wonder if it rings any bells elsewhere.

A consensus seems to have emerged that the Chinese defense of their currencies is linked to the defense of the HK dollar.

All seem to agree that the breaking of this wall will have major ramifications, largely negative, for Asia and by extension the world.

Now we have a small group of fund managers who have for all intents and purposes announced publicly that they intend to break the peg, and make a lot of money in the process.

Not that the peg might not dissolve in any event, under natural market forces. But a deliberate attempt to destroy it seems perilously close to terrorism. At what point does it become legitimate to start putting cruise missiles in lower Manhattan?

I'm not sure I'd object.

Steve
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