While Switzerland this week in effect pegged the franc to the euro, a debate is intensifying in Hong Kong over whether to sever the city’s 27-year-old peg to the US dollar.
The mechanism that links the Hong Kong and US dollars at a rate of HK$7.80 to US$1 has served the city well since its introduction in 1983.
It has survived the hand-over of sovereignty from Britain to China, the Asian financial crisis and repeated attacks from speculators.
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