Should Hong Kong SAR Modify Its Existing Currency Board Arrangement?

摘要

＜正＞ I.IntroductionOn July 1st 1997,Hong Kong returned to China and since then has been governed under the internationally well-known national policy of China: "One Country,Two Systems".Hong Kong has still maintained its monetary independence and its Currency Board Arrangement （CBA）.Following the financial crisis in 1997-1998,Hong Kong is now suffering its worst-ever economic pains,with an unemployment rate of over 7.7 percent,and no immediate signs of an economic turnaround.Economists have asked whether the exist-