Hong Kong should end US dollar peg

Chief Executive Tung Chee-hwa should consider scrapping the US dollar peg if he serves another 5-year term, Liberal Party chairman and legislator James Tien Pei-chun said. Tien said that Hong Kong faces more problems in the next six months if the economy does not pick up while the US dollar peg presents a major obstacle to recovery. He said that the Hong Kong dollar would depreciate by not more than 20 pct if the US dollar peg is removed.

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