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The Doubtful Ways To Combat Inflation

出自香港新聞網 - 樹仁新傳系學生實習習作

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A financial commentator of now TV, Chun Sin-chun, criticized the linking system, which was defended by Chief Executive earlier before, during his speech at Hong Kong Shue Yan University today.

Joe Ng

Hong Kong dollar depreciated along with US dollar. Meanwhile, Renminbi (RMB) is gradually appreciating, resulting in a sharp decrease, 20%, in local purchasing power. [Why is this happening?]

Chun agreed to launch the linking system in 1983, due to historical reasons [What is the linking system?]. US dollar was creditable and international at that time.

However, time has changed. China is Hong Kong’s greatest trading partner today. Hong Kong has to pay an increased price for daily articles from China. The cost thus transfers to local consumers, causing inflation.

Chun suggested that Hong Kong could refer the experience of Singapore, which links Singapore Dollar with a range of currencies instead of just one.

Who can benefit from the iBond is unknown

Chun criticized the inflation-Bond (iBond), which was launched in “The 2011-12 Budget” to help the residents against inflation and is kept this year. [What criticisms did he raise?]

The funds gathered remain unused instead of using for investment. The government has to draw from taxes for releasing interests to the holders. [So what are the bonds actually used for?]

Grass-roots hardly purchase the iBond, since one lot values 10 thousands dollars. In this case, whether the middle class who pay taxes can benefit from the iBond, it is tricky. [How is the iBod system supposed to work?]

For the middle class who pay taxes without purchasing the iBond, it may not a desirable policy. [Why not?]

“Who can benefit from that eventually?” Chun questioned.

[An article should be concise, and cover one or two major points in detail. What you have here is a series of statements, that may or may no be linked. There is little organization, nothing is expanded on, ther eis no clear point being made, and it feels like a series of random quotes, not an actual editorial piece.]

[Grade: C-]

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