HK central bank head discusses spotting risks
Joseph Yam, chief executive of the Hong Kong Monetary Authority, has said the market should give risk prevention more thought.
In the month that marks the 10th anniversary of the Asian financial crisis, Yam said: “Even though we all say that prevention is better than cure, we never seem to value preventive efforts, at least not as much as those spent in successfully managing a real financial crisis.”
Yam stressed that, despite Hong Kong’s relative economic health, it was important for financiers to look out for any possible shocks: “The Hong Kong economy seems to be doing well. If there are disruptions, I think it is
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