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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: Ron Bower who wrote (2119)	8/17/1998 12:02:00 AM
From: Brad Bolen	Read Replies (1) \| Respond to of 2951

Ron, I agree with you 100%. RE:This may not be a battle only for their economy, it may be a battle for their autonomy.

To: Ron Bower who wrote (2119)	8/17/1998 10:57:00 AM
From: tom	Read Replies (2) \| Respond to of 2951

Hong Kong is not a free market... Why? because.... 1. No free market economy imposes a determined limit on its most scarce resource. The 50 hectare rule the the government has imposed on land sales is precisely that. The abandonment of land sales is a very crude attempt to subvert the market and ensure that ordinary people (not speculators) cannot afford to buy homes 2. No free market economy exists within the confines of a banking cartel. The HK banking association, not the market, sets interest rates. 3. No free market economy sets one of the most important prices (the exchange rate) arbitrarily to another country's monetary policy 4. No free market economy intervenes in the stock market to try and thwart "speculators" HK is NOT a free market. China is probably more of a free market than HK. The intervention by the HKMA is aimed to help the rich and powerful at the expense of the poor. What a great time to short Hong Kong.