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Opinion

China's yuan policy has made Hong Kong redundant

Greater global acceptance of currency means mainland centers like Shanghai can step up

| Hong Kong
Hong Kong's intrinsic feature of bridging two systems served it well, but this is no longer the case.   © Reuters

Paola Subacchi is Professor of International Economics at the University of London's Queen Mary Global Policy Institute and the author, most recently, of "The Cost of Free Money."

Many have claimed that the national security law China has imposed on Hong Kong will be the death of the city, stifling free speech and driving away businesses. But 10 years ago, China made Hong Kong part of a plan which, even more certainly than the national security law, is rendering the city redundant.

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