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What are Red Chips, why might you want some? Why did Peregrine set up its shop in Hong Kong instead of Shanghai at the time

What are Red Chips, why might you want some? Why did Peregrine set up its shop in Hong Kong instead of Shanghai at the time of the case? Explain the connections between Hong Kong and Mainland China, and what has changed since the time of the case. Is Hong Kongs importance as a banking hub in jeopardy?

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