We do take note of Tom Holland, one of the very best commentators on Asian business.
He analyses Hong dollar peg and property both being sound.
…the Hong Kong dollar peg is in no danger. Nor is there much reason to worry about Hong Kong's banks. A debt to GDP ratio of 850 per cent is not unusual for a major financial centre. London's is similar. And the exposure is not as great as it looks. Much of the banking system's assets consist of foreign currency loans extended by Hong Kong branches to mainland borrowers, collateralised by yuan deposits held by the same banks' mainland branches. It's a profitable, low-risk business.
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