When Hong Kong tied its currency to the US dollar 30 years ago this week, watchers wondered whether an economic remedy could cure a political disease. Posturing by Beijing and London over the territory’s future had plunged the currency into crisis. There is an irony, then, that the peg reaches its birthday just as posturing in Washington risks undermining the very credibility that Hong Kong clung to in 1983. Debate over the peg’s suitability has been perennial since it was introduced. But even with the staggering irresponsibility being shown by the US, the fact remains that Hong Kong and China do not yet have a choice.
30年前的這一周，當香港將港元與美元掛鉤時，觀察家們想知道的是，經濟藥方能否治愈政治疾病。當時，北京方面和倫敦方面圍繞香港未來上演的角力，讓港元陷入了危機。具有諷刺意味的是，在這一掛鉤的30周年紀念日到來之際，華盛頓方面卻有可能毀掉香港在1983年選擇依靠的美元信譽。自香港盯住美元匯率以來，人們對這一制度是否適宜的爭論就一直沒有停過。然而，盡管美國方面表現出令人震驚的不負責任，但有一個事實依然沒有改變，那就是香港和中國現在尚無其它選擇。