Text: In modern times, of course, it would, on the contrary, seem irresponsible to advocate deflation in the name of a historical monetary benchmark (though Hong Kong is currently following a de facto policy of deflation in order to defend the fixed exchange rate between its currency and the U.S. dollar).
Entailment: In current times it would be counterproductive to make claims for deflation.
Contradiction: Deflation was not mentioned during the modern era.