Yam has secured his place in history


On 1 October, Joseph Yam will bow out after 28 years in charge of Hong Kong's monetary and banking affairs - first as director of the Office of the Exchange Fund and then, since its creation in 1993, as chief executive of Hong Kong's central bank - the Hong Kong Monetary Authority (HKMA).

He leaves an impressive legacy. Most prominently, his support, both practical and intellectual, for the peg of the HK dollar to the US dollar, has provided the monetary stability necessary for Hong Kong's

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