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  "documentTitle": "Hong Kong Dollar / Hong Kong Monetary Authority (HKMA) (HKD)",
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  "authorName": "Pershing Square Capital Management",
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  "presentationDate": "2011-09-14 00:00:00",
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      "text": "Pros: Monetary policy would more closely match that of its trading partners; Reduces HK's real exchange rate volatility; Singapore has successfully used this approach",
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      "text": "Cons: A basket is less transparent and more complicated than the Peg; The average interest rates of HK's trade partners is low today, which would mean continued low HK rates; A basket introduces more discretion as trade weights can be adjusted and are subjective, increasing the risk of politicizing monetary policy",
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      "text": "Alternative Two - Peg to a Trade-Weighted Basket",
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