The Future of the Monetary System of Hong Kong   
by 
Professor the Honourable Joseph Yam, 
GBM, GBS, CBE, JP
Working Paper No. 9 
June 2012 
"...More often than not, 
regrettably, without the pressures of a crisis
 that is either looming large or already ongoing, 
significant differences of opinion not resolved 
would result in the status quo 
being maintained. 
Reform of the monetary system in peaceful time takes leadership, 
foresight, courage and effective persuasion,..."
. 
 