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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (23955)	10/24/1997 12:05:00 PM
From: Sam Citron	Read Replies (1) \| Respond to of 132070

MB, Why do you assume that $HK would collapse w/o gov't. intervention? As you say, HK imports everything so prices would rise for imports if $HK drops. Meanwhile, HK exports become that much more competitive. Sure that could pressure Taiwan, to the extent it competes in these same markets, and Taiwan could also float. So what's wrong if everyone just floats? Don't rigid price controls always distort the economy? What is different for rigid controls on the price of the currency? SC