1. HK linked exchange rate
... of 5% from 83-92. The foreign currency assets of HK, including those held in the Land Fund, were US$ 98.1 billion at the end of January 1998. According to Professor Milton Friedman, "a small country is better off linking its own currency to that of a major country, particularly one with which it has close economic relationship, which is a major trading partner". The more ... ...
- Word Count: 1827
- Approx Pages: 7
- Has Bibliography
- Grade Level: High School