Hong Kong should review its US dollar peg and consider linking its currency to the renminbi, according to Joseph Yam, former head of the Hong Kong Monetary Authority.
Mr Yam, who ran Hong Kong’s de facto central bank for 16 years until 2009, is the most influential person to suggest such a move.
Ending the US dollar peg after nearly three decades would be hugely symbolic as a sign of China’s increasing economic dominance in Asia.
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