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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": "HK has implemented a series of unsuccessful “macro-prudential” reforms to deal with its inflation and wealth gap problems. These efforts do not address the underlying cause of the problems and in some cases are actually inflationary (e.g. cash handouts)",
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      "text": "Housing – Efforts have failed to reduce prices meaningfully\nLTV caps on new mortgages\nTransaction tax on homes sold soon after purchase\nHome Supply – Increased land sales\nIntroduction of a Minimum Wage\nRent Relief\nUtility Subsidy\nCash Handouts",
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      "text": "Fiscal and Regulatory Measures Have Been Inadequate",
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