Investor's Edge • By Mark Tier • March 20, 2005 • Leave a comment
Hong Kong’s Money Panic Around midday on Friday September 23rd, 1983, the latest round of Sino-British talks in Peking on the subject of Hong Kong’s future concluded. Very quickly it became apparent in Hong Kong that no progress had been made. The announcements that were were no announcements sparked a run on the Hong Kong…
Investor's Edge • By Mark Tier • March 20, 2005
Float the Hong Kong Dollar? Wait a minute…I want to sell it short first! When the Thai baht collapsed in July 1997 other Asian currencies fell like dominoes. Only the Hong Kong dollar and the Chinese yuan remained standing. The voices calling for the Hong Kong dollar’s “peg” to the US dollar to be abandoned became…