1.   Because the Hong Kong dollar is pegged to the U.S. dollar, he said, price adjustment has been slower than in countries that have devalued currencies.

2.   After the Hong Kong dollar was pegged to the United States currency calm was restored and capital flight arrested.

3.   Hong Kong rates follow U.S. rates because the Hong Kong dollar is pegged to the U.S. dollar.

4.   Hong Kong rates generally move in tandem with U.S. rates, since the Hong Kong dollar is pegged to the U.S. currency.

5.   Hong Kong tends to mirror U.S. monetary policy because the Hong Kong dollar is pegged to its American counterpart.

6.   Right now, the Hong Kong dollar is pegged to the U.S. dollar.

7.   Since the Hong Kong dollar is officially pegged to the U.S. dollar, interest rates in the territory should follow their U.S. counterparts.

8.   The Hong Kong dollar is pegged to the U.S. dollar, making higher rates the best indication that the local currency has been targeted.

9.   The monetary authority tracks U.S. monetary policy to keep the Hong Kong dollar pegged to its American counterpart.

10.   Under that system, which is called a currency board, the Hong Kong dollar is pegged to the U.S. dollar at a fixed exchange rate.