On The Dollar, BRICS & Hong Kong’s Currency

The BRICS has expanded well beyond the original four developing nations that the bloc was named for, but it hasn’t gained might in the process. On the contrary, says William, bulking up has backfired, putting the BRICS’ aspirations to rival the Group of Seven further from reach. … Also: The Hong Kong Monetary Authority has been struggling to keep the city’s currency pegged to the US dollar amid China’s deflation, Trump’s trade wars, and the Fed’s uncertain direction. Lately, it has been draining liquidity to shore up the currency—and hurting the local economy in the process. Are the peg’s days numbered?