rba speech, 2005-12-14
Joseph Yam, Chief Executive of the Hong Kong Monetary Authority, laments the situation in the following terms: Whether we like it or not, we now find ourselves in the unenviable position of holding a substantial part of our savings in the financial liabilities of an economy that does not save, fearing that a diversification of a small part of such holdings might lead to a sharp fall in the value of the rest, thus shooting ourselves in the foot.
Sentiment: neutral
Topic: mp_economic_activity