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LINKED EXCHANGE RATE, WORKABLE BUT UNSUITABLE

出自香港新聞網 - 樹仁新傳系學生實習習作

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LINKED EXCHANGE RATE, WORKABLE BUT UNSUITABLE

Business critic discourages continuation of the existing currency policy.

HKSYU, FEB 6- With (article) extremely different structure of economy, Hong Kong should give up the linked exchange rate policy, argued Chiu Sin-chun, a business critic (of) NOW TV.

(article)Linked exchange rate policy has been imposed (by whom) to stabilize Hong Kong Dollar since 1983, before the signing of the Sino-British Joint Declaration. Before its implementation, the value of Hong Kong Dollar fluctuates from of $1 USD to $ 5 HKD and $ 1 USD to $ 9.6 HKD.

Nevertheless, Chiu argued if such practice suitable for current economic atmosphere of Hong Kong (incomplete sentence, if implies further elaboration).

‘The government claims such practice is (so-called+claim=redundant) workable. Feudalism was workable a decade ago. How come it was overthrown later on with such a great applause?’ said Chiu metaphorically.

‘(art.)Linked system was set up for a political reason instead of the local economic problem. Unlike 1980s, the greatest business partner of Hong Kong now is mainland China instead of the US. Rate policy from the US is not necessarily coherent to Hong Kong’s situation,’ explained Chiu.

Meanwhile, as most basic necessities are imported from mainland China, the uprising currency of RMB has been leading to (the-diff article) soaring inflation. On the other hand, the US is still under (art) influence of phases of Quantitative Easing due to their economic downturn (good, depends on audience, some might not be familiar with QE).

‘For the sake of Hongkongers, it’s time to reflect the current rate policy. Yet, Donald Tsang would “slap on faces” of whom begins discussion of ceasing such practice,’ said Chiu with humor. (unclear quote, awkward syntax)

‘But as for me, Beijing government would be the only party (benefitted-wrong use of verb) from such policy,’ added Chiu.


Good facts and figures, simply revise the lack of articles, and other issues with syntax.
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