Hong Kong: What's Changed, What Hasn't

What Hasn't Changed

Hong Kong's Currency

Milton Friedman, the late Nobel Prize-winning economist, predicted that within two years of the handover China would introduce capital controls and replace the territory's currency. Wrong. The Hong Kong dollar remains pegged to the U.S. dollar, and Beijing has exerted little influence on the local monetary authority.

• Hong Kong, China
• Timeline: Hong Kong, 1997-2007