Time of Trial for Hong Kong’s US Dollar Peg

The time is coming before too long when the world’s highest paid central banker, Hong Kong’s Joseph Yam, may have to do rather more to justify his salary.

Being the head of the HK Monetary Authority, or de facto central bank, has been relatively cushy position for most of the 15 years that Yam has held the job – heading the Exchange Fund from 1991 and th…