Chapter 640
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After noting the surprise of Arthur burns and others, Gao Xian explained: "since the decoupling of the Hong Kong dollar from the British pound, the Hong Kong dollar has first turned to the US dollar. However, under the great pressure of the depreciation of the US dollar and the appreciation of the Hong Kong dollar, the exchange rate will soon float freely. The initial effect is OK, but the depreciation of the Hong Kong dollar has become a very difficult problem in recent years."
"From this experience, a completely fixed exchange rate or a free floating exchange rate are not suitable for the Hong Kong dollar. I think we might as well find a way between the two."
"This is why I ask, on the premise that the free flow of capital cannot be changed, is it feasible to control half of the fixed exchange rate and independent monetary policy?"
Arthur burns nodded suddenly. "Sir Gao asked professionals in the economic field to demonstrate. I think there must be a preliminary plan. It's better to introduce it first."
High string clouds and flowing water generally states: "The existing rules, including the linkage between Hong Kong dollar issuance and foreign exchange reserves and the floating of Hong Kong dollar interest rates, remain unchanged, but an internal exchange rate parallel to the market exchange rate is established between the exchange fund and note issuing banks. Once the market exchange rate deviates too much from the internal exchange rate, the banking industry will have the power to make profit, and then establish an automatic two-way adjustment of currency contraction and expansion Mechanism. "
"As for the internal exchange rate, it is determined by a certain degree of independent monetary policy, such as considering the currency exchange rates of Xiangjiang's main trading partners."
"My idea is that, in addition to the US dollar, the Japanese yen in Asia, the British pound in Europe and the West German mark are introduced, and the internal exchange rate is obtained through comprehensive calculation."
"Of course, because international trade is the most important economic activity in Xiangjiang, the US dollar occupies the main weight."
Arthur burns thought and said, "it seems that Sir Gao has made great efforts. This should be an evolutionary version of the currency board system. I am very interested in studying it."
"That's settled." Sir Gao was very forthright. "If you want to set up a research group for Georgetown University students who are teaching around this argument, I also support it very much."
As the saying goes, it's easy to do things with money. Arthur burns still likes this set very much and immediately set a time to go to Xiangjiang.
……
Gao Xiang is not only an expert in network economics in the United States. After all, Xiangjiang is still a British colony. Even if Britain's national strength has declined so much that it can't cover it, he has to take care of his face.
So Gao Xian soon arrived in London, England, and first joined Patricia.
On February 24 this year, Buckingham Palace officially announced that Prince Charles was engaged to Diana Spencer, the daughter of the eighth Earl of Spencer, and solemnly married on July 29.
People with a clear vision understand that with the decline of British national strength, the influence of the British royal family is greatly reduced, and the grand marriage of the crown prince helps the British royal family enhance its sense of existence,
For Gao Xian, this is nothing more than another super social activity of networking, and miss Hurst is helping him deal with this trivial matter.
"The special gifts purchased from China have been delivered to Prince Charles. He is very satisfied and asked me the day before yesterday when you will come to London," Patricia said.
"I really don't have much time to chat with him." Gao Xian said with a smile: "after the economists are almost invited, they have to be well entertained. It also takes a process to demonstrate. In a word, it takes a lot of time."
Of course, it's already in London. Gao Xian still wants to see Prince Charles.
Prince Charles is more calm about the recent wedding. Gao Xian also understands his state. As a crown prince, he is not young, and the obligation to inherit his family must be completed anyway, and everything else is secondary.
It is estimated that he has been tossed about by various red tape before his wedding. Prince Charles asked Sir Gao what fun he had to do in London this time.
"It's just to visit some professionals in the economic field." Gao Xian thought, "I'm going to meet Roland Bahrain, the former governor of the Bank of England and the third generation count of Cromer. Your highness knows him."
"Of course, their family is also the Royal financial adviser." Prince Charles nodded. "I'm so bored these days. If you go to see him, I'll let it go."
Gao Xian certainly won't refuse. What he talks to Roland Bahrain can be put on the table and read by others.
In a word, Roland Bahrain has a prominent family. He was born in the Bahraini family across the banking and political circles. He is no worse than the Rothschild family, which is legendary in the "old script". Among the family members, there have been the governor of India and the governor of Egypt.
Evelyn Bahrain, the grandfather of Roland Bahrain and the first Earl of Cromer, is one of the Egyptian governors. As a representative of Britain, he ruled Egypt for 24 years and had a far-reaching impact on the development of Egypt.
As for Roland Balin himself, he naturally belongs to the elite. He has been the president of the Bank of England since 1961, which is equivalent to the president of the British central bank. Later, because of a conflict with Harold Wilson, the then British Prime Minister, the leader of the British Labour Party, on controlling government expenditure, he gave up seeking a second term. A few years later, he went to Nigeria During the Matsushita period, the United States served as British ambassador to the United States for several years; now it is equivalent to withdrawing from British politics.
Roland Balin was not interested in Gao Xian inviting himself to Xiangjiang to demonstrate the improved currency board system, because he was not as obsessed with academic research as Arthur burns, and he lacked the motivation to earn extra money, so he didn't bother to go to Xiangjiang. You know, for many British people, the hot and humid climate in Xiangjiang is very unbearable.
Gao Xian doesn't care about this. Anyway, he invited more than Roland Bahrain in the UK. For example, Nicholas Kaldor, a famous British economist, a professor at Cambridge University, who was once in the UK and even invited to India to design the tax system, has the same weight and can hold the scene and deceive people.
Unexpectedly, Prince Charles suddenly interrupted lazily: "has your family never been to Asia since Lord Northbrook became governor of India? If I have freedom now, I will go to Xiangjiang, which has developed into an international metropolis."
Roland Balin was a little embarrassed by the run. "After listening to your Highness's introduction, I really became interested in Xiangjiang. Then Sir laurel arranged it."
Gao Xian glanced at Prince Charles and couldn't help muttering. Unexpectedly, this helper is really useful!.
……
PS: bow to thank the book friend: ambush and xielinsw's reward!!
Please report us if you find any errors so we can fix it asap!
After noting the surprise of Arthur burns and others, Gao Xian explained: "since the decoupling of the Hong Kong dollar from the British pound, the Hong Kong dollar has first turned to the US dollar. However, under the great pressure of the depreciation of the US dollar and the appreciation of the Hong Kong dollar, the exchange rate will soon float freely. The initial effect is OK, but the depreciation of the Hong Kong dollar has become a very difficult problem in recent years."
"From this experience, a completely fixed exchange rate or a free floating exchange rate are not suitable for the Hong Kong dollar. I think we might as well find a way between the two."
"This is why I ask, on the premise that the free flow of capital cannot be changed, is it feasible to control half of the fixed exchange rate and independent monetary policy?"
Arthur burns nodded suddenly. "Sir Gao asked professionals in the economic field to demonstrate. I think there must be a preliminary plan. It's better to introduce it first."
High string clouds and flowing water generally states: "The existing rules, including the linkage between Hong Kong dollar issuance and foreign exchange reserves and the floating of Hong Kong dollar interest rates, remain unchanged, but an internal exchange rate parallel to the market exchange rate is established between the exchange fund and note issuing banks. Once the market exchange rate deviates too much from the internal exchange rate, the banking industry will have the power to make profit, and then establish an automatic two-way adjustment of currency contraction and expansion Mechanism. "
"As for the internal exchange rate, it is determined by a certain degree of independent monetary policy, such as considering the currency exchange rates of Xiangjiang's main trading partners."
"My idea is that, in addition to the US dollar, the Japanese yen in Asia, the British pound in Europe and the West German mark are introduced, and the internal exchange rate is obtained through comprehensive calculation."
"Of course, because international trade is the most important economic activity in Xiangjiang, the US dollar occupies the main weight."
Arthur burns thought and said, "it seems that Sir Gao has made great efforts. This should be an evolutionary version of the currency board system. I am very interested in studying it."
"That's settled." Sir Gao was very forthright. "If you want to set up a research group for Georgetown University students who are teaching around this argument, I also support it very much."
As the saying goes, it's easy to do things with money. Arthur burns still likes this set very much and immediately set a time to go to Xiangjiang.
……
Gao Xiang is not only an expert in network economics in the United States. After all, Xiangjiang is still a British colony. Even if Britain's national strength has declined so much that it can't cover it, he has to take care of his face.
So Gao Xian soon arrived in London, England, and first joined Patricia.
On February 24 this year, Buckingham Palace officially announced that Prince Charles was engaged to Diana Spencer, the daughter of the eighth Earl of Spencer, and solemnly married on July 29.
People with a clear vision understand that with the decline of British national strength, the influence of the British royal family is greatly reduced, and the grand marriage of the crown prince helps the British royal family enhance its sense of existence,
For Gao Xian, this is nothing more than another super social activity of networking, and miss Hurst is helping him deal with this trivial matter.
"The special gifts purchased from China have been delivered to Prince Charles. He is very satisfied and asked me the day before yesterday when you will come to London," Patricia said.
"I really don't have much time to chat with him." Gao Xian said with a smile: "after the economists are almost invited, they have to be well entertained. It also takes a process to demonstrate. In a word, it takes a lot of time."
Of course, it's already in London. Gao Xian still wants to see Prince Charles.
Prince Charles is more calm about the recent wedding. Gao Xian also understands his state. As a crown prince, he is not young, and the obligation to inherit his family must be completed anyway, and everything else is secondary.
It is estimated that he has been tossed about by various red tape before his wedding. Prince Charles asked Sir Gao what fun he had to do in London this time.
"It's just to visit some professionals in the economic field." Gao Xian thought, "I'm going to meet Roland Bahrain, the former governor of the Bank of England and the third generation count of Cromer. Your highness knows him."
"Of course, their family is also the Royal financial adviser." Prince Charles nodded. "I'm so bored these days. If you go to see him, I'll let it go."
Gao Xian certainly won't refuse. What he talks to Roland Bahrain can be put on the table and read by others.
In a word, Roland Bahrain has a prominent family. He was born in the Bahraini family across the banking and political circles. He is no worse than the Rothschild family, which is legendary in the "old script". Among the family members, there have been the governor of India and the governor of Egypt.
Evelyn Bahrain, the grandfather of Roland Bahrain and the first Earl of Cromer, is one of the Egyptian governors. As a representative of Britain, he ruled Egypt for 24 years and had a far-reaching impact on the development of Egypt.
As for Roland Balin himself, he naturally belongs to the elite. He has been the president of the Bank of England since 1961, which is equivalent to the president of the British central bank. Later, because of a conflict with Harold Wilson, the then British Prime Minister, the leader of the British Labour Party, on controlling government expenditure, he gave up seeking a second term. A few years later, he went to Nigeria During the Matsushita period, the United States served as British ambassador to the United States for several years; now it is equivalent to withdrawing from British politics.
Roland Balin was not interested in Gao Xian inviting himself to Xiangjiang to demonstrate the improved currency board system, because he was not as obsessed with academic research as Arthur burns, and he lacked the motivation to earn extra money, so he didn't bother to go to Xiangjiang. You know, for many British people, the hot and humid climate in Xiangjiang is very unbearable.
Gao Xian doesn't care about this. Anyway, he invited more than Roland Bahrain in the UK. For example, Nicholas Kaldor, a famous British economist, a professor at Cambridge University, who was once in the UK and even invited to India to design the tax system, has the same weight and can hold the scene and deceive people.
Unexpectedly, Prince Charles suddenly interrupted lazily: "has your family never been to Asia since Lord Northbrook became governor of India? If I have freedom now, I will go to Xiangjiang, which has developed into an international metropolis."
Roland Balin was a little embarrassed by the run. "After listening to your Highness's introduction, I really became interested in Xiangjiang. Then Sir laurel arranged it."
Gao Xian glanced at Prince Charles and couldn't help muttering. Unexpectedly, this helper is really useful!.
……
PS: bow to thank the book friend: ambush and xielinsw's reward!!
After noting the surprise of Arthur burns and others, Gao Xian explained: "since the decoupling of the Hong Kong dollar from the British pound, the Hong Kong dollar has first turned to the US dollar. However, under the great pressure of the depreciation of the US dollar and the appreciation of the Hong Kong dollar, the exchange rate will soon float freely. The initial effect is OK, but the depreciation of the Hong Kong dollar has become a very difficult problem in recent years.""From this experience, a completely fixed exchange rate or a free floating exchange rate are not suitable for the Hong Kong dollar. I think we might as well find a way between the two.""This is why I ask, on the premise that the free flow of capital cannot be changed, is it feasible to control half of the fixed exchange rate and independent monetary policy?"Arthur burns nodded suddenly. "Sir Gao asked professionals in the economic field to demonstrate. I think there must be a preliminary plan. It's better to introduce it first."High string clouds and flowing water generally states: "The existing rules, including the linkage between Hong Kong dollar issuance and foreign exchange reserves and the floating of Hong Kong dollar interest rates, remain unchanged, but an internal exchange rate parallel to the market exchange rate is established between the exchange fund and note issuing banks. Once the market exchange rate deviates too much from the internal exchange rate, the banking industry will have the power to make profit, and then establish an automatic two-way adjustment of currency contraction and expansion Mechanism. ""As for the internal exchange rate, it is determined by a certain degree of independent monetary policy, such as considering the currency exchange rates of Xiangjiang's main trading partners.""My idea is that, in addition to the US dollar, the Japanese yen in Asia, the British pound in Europe and the West German mark are introduced, and the internal exchange rate is obtained through comprehensive calculation.""Of course, because international trade is the most important economic activity in Xiangjiang, the US dollar occupies the main weight."Arthur burns thought and said, "it seems that Sir Gao has made great efforts. This should be an evolutionary version of the currency board system. I am very interested in studying it.""That's settled." Sir Gao was very forthright. "If you want to set up a research group for Georgetown University students who are teaching around this argument, I also support it very much."As the saying goes, it's easy to do things with money. Arthur burns still likes this set very much and immediately set a time to go to Xiangjiang.Gao Xiang is not only an expert in network economics in the United States. After all, Xiangjiang is still a British colony. Even if Britain's national strength has declined so much that it can't cover it, he has to take care of his face.So Gao Xian soon arrived in London, England, and first joined Patricia.On February 24 this year, Buckingham Palace officially announced that Prince Charles was engaged to Diana Spencer, the daughter of the eighth Earl of Spencer, and solemnly married on July 29.People with a clear vision understand that with the decline of British national strength, the influence of the British royal family is greatly reduced, and the grand marriage of the crown prince helps the British royal family enhance its sense of existence,For Gao Xian, this is nothing more than another super social activity of networking, and miss Hurst is helping him deal with this trivial matter."The special gifts purchased from China have been delivered to Prince Charles. He is very satisfied and asked me the day before yesterday when you will come to London," Patricia said."I really don't have much time to chat with him." Gao Xian said with a smile: "after the economists are almost invited, they have to be well entertained. It also takes a process to demonstrate. In a word, it takes a lot of time."Of course, it's already in London. Gao Xian still wants to see Prince Charles.Prince Charles is more calm about the recent wedding. Gao Xian also understands his state. As a crown prince, he is not young, and the obligation to inherit his family must be completed anyway, and everything else is secondary.It is estimated that he has been tossed about by various red tape before his wedding. Prince Charles asked Sir Gao what fun he had to do in London this time."It's just to visit some professionals in the economic field." Gao Xian thought, "I'm going to meet Roland Bahrain, the former governor of the Bank of England and the third generation count of Cromer. Your highness knows him.""Of course, their family is also the Royal financial adviser." Prince Charles nodded. "I'm so bored these days. If you go to see him, I'll let it go."Gao Xian certainly won't refuse. What he talks to Roland Bahrain can be put on the table and read by others.In a word, Roland Bahrain has a prominent family. He was born in the Bahraini family across the banking and political circles. He is no worse than the Rothschild family, which is legendary in the "old script". Among the family members, there have been the governor of India and the governor of Egypt.Evelyn Bahrain, the grandfather of Roland Bahrain and the first Earl of Cromer, is one of the Egyptian governors. As a representative of Britain, he ruled Egypt for 24 years and had a far-reaching impact on the development of Egypt.As for Roland Balin himself, he naturally belongs to the elite. He has been the president of the Bank of England since 1961, which is equivalent to the president of the British central bank. Later, because of a conflict with Harold Wilson, the then British Prime Minister, the leader of the British Labour Party, on controlling government expenditure, he gave up seeking a second term. A few years later, he went to Nigeria During the Matsushita period, the United States served as British ambassador to the United States for several years; now it is equivalent to withdrawing from British politics.Roland Balin was not interested in Gao Xian inviting himself to Xiangjiang to demonstrate the improved currency board system, because he was not as obsessed with academic research as Arthur burns, and he lacked the motivation to earn extra money, so he didn't bother to go to Xiangjiang. You know, for many British people, the hot and humid climate in Xiangjiang is very unbearable.Gao Xian doesn't care about this. Anyway, he invited more than Roland Bahrain in the UK. For example, Nicholas Kaldor, a famous British economist, a professor at Cambridge University, who was once in the UK and even invited to India to design the tax system, has the same weight and can hold the scene and deceive people.Unexpectedly, Prince Charles suddenly interrupted lazily: "has your family never been to Asia since Lord Northbrook became governor of India? If I have freedom now, I will go to Xiangjiang, which has developed into an international metropolis."Roland Balin was a little embarrassed by the run. "After listening to your Highness's introduction, I really became interested in Xiangjiang. Then Sir laurel arranged it."Gao Xian glanced at Prince Charles and couldn't help muttering. Unexpectedly, this helper is really useful!.PS: bow to thank the book friend: ambush and xielinsw's reward!!
