An Analysis of the Impact of RMB Depreciation on Hong Kong
Hong Kong is one of the main economies operating a currency board system today. With its currency fixed to the U.S. dollar, the system has functioned successfully since it was restarted in 1983. The last time it faced severe challenges was during the East Asian financial crisis of 1997-98. However,...
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| Published in | Journal of Economics Bibliography Vol. 6; no. 4; p. 375 |
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| Main Author | |
| Format | Journal Article |
| Language | English |
| Published |
Istanbul
KSP Journals
01.12.2019
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| Subjects | |
| Online Access | Get full text |
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| Summary: | Hong Kong is one of the main economies operating a currency board system today. With its currency fixed to the U.S. dollar, the system has functioned successfully since it was restarted in 1983. The last time it faced severe challenges was during the East Asian financial crisis of 1997-98. However, with the comparatively large depreciation of renminbi (RMB, and sometimes referred to as Yuan) during the past two years, a rising question is how Hong Kong might be affected by a possible future crisis originating from China. In this paper, we examine the impact of RMB depreciation on Hong Kong, with a focus on three sectors of Hong Kong’s economy foreign direct investment, external trade, and tourism. |
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| ISSN: | 2149-2387 |
| DOI: | 10.1453/jeb.v6i4.1967 |