Editorial : Hong Kong must be prepared for dangers in times of peace

【明報專訊】ON September 15, 2008, the American investment bank Lehman Brothers went bankrupt, triggering a financial tsunami. The central banks of the United States and Europe stemmed the tide and saved the market by resorting to the unprecedented "quantitative easing policy" of money-printing. Ten years have passed and the "great recession" seems to have been a nightmare only. However, the root causes of the financial tsunami have never been tackled and the big banks have relapsed into the culture of greed. As the central banks are reducing their balance sheets and monetary policies are gradually normalising, the asset bubbles worldwide could burst. Hong Kong must be prepared for dangers in times of peace.

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