Breaking out of the crisis in Hong Kong
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Two words being spoken right now in economic circles, especially in the midst of this crisis, are "exit strategy." Most specifically asked is when countries should start adopting exit strategy policies.
It's a tough question and one where Hong Kong's professor-turned-Secretary for Financial Services and the Treasury, Chan Ka-Keung echoes the popular conception.
"Countries should be careful because the downside risk is still there, mainly because of the slow consumption growth in the United States and it should be done in a coordinated manner," he told The Korea Herald.
He explained that the first stage of an exit strategy would be to find ways on how to get government out of the interbank market so that the banks can function without any financial assistance from the government.
"The exit strategy should be done in phases considering the necessities of the financial market," he said.
Chan explained that Hong Kong is in a different situation than many western countries because their banks did not need any financial help from the government.