Its economy and financial system is now reliant on the fickle and
potentially destabilizing short-term foreign capital its closed
financial system was designed to guard against. This is hard to quantify
but claims Hong Kong banks have on mainland counterparts give an
approximation of the size of these yield-seeking structured products. As
of October, those claims were a record HK$2.3 trillion ($295 billion),
up 53% since the end of 2012.
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