Fang Chen's complexion, which was originally slightly meaningful, instantly turned into a bitter gourd face, and he looked at Dean Zhu with an unkind face.

Isn't it good to talk about sniping the pound, why did it go back to China.

"The domestic economic development is very good, I don't have any opinions, I resolutely support the economic policies formulated by you and Ge Yu, and contribute to the development of the country, the people and society under your leadership......" Fang Chen was satisfied with running the train, and said nonsense without boundaries.

"Okay, stop me, I've heard enough of these eight strands, you don't want to talk about your views on the political system, this is okay, but in terms of economic development, you have to tell me one, two, three!" Dean Zhu said categorically and undoubtedly.

Looking at Dean Zhu's firm gaze, Fang Chen instantly felt that his head was big, and said curtly: "I really don't have anything to talk about, I have more or less the ability to make money, economic development, this kind of thing, that's what I can interject." ”

Hearing this, Dean Zhu immediately smiled and said eloquently: "Economic development, to put it bluntly, is to make money, and to put it more broadly, it is to bring the people of the whole country to make money, you have no right to speak in this regard, who has the right to speak?"

Suddenly, a flash of inspiration flashed in his mind, and a meaningful smile hung on the corner of Dean Zhu's mouth, and said: "If you don't want to talk about it, it's okay, after the sniping of the pound is done, you exchange all your foreign exchange for Huaxia currency, then you can stop talking about it today." ”

If Fang Chen agreed to turn all the foreign exchange in his hands into Huaxia currency, then wouldn't he have to borrow money from foreign banks.

As for the Huaxia currency, the money printing machine is in his hand, and he can give Fang Chen as much as he wants, after all, this is anchored by foreign exchange, not inflation, it should be regarded as foreign investment.

He really didn't dare to think about bringing in two or three billion foreign investment at once.

Fang Chen was speechless for a moment, covering his head.

Yes, it's ruthless!

In these years, exchanging the dollars in his hand for Huaxia coins, he has a sick brain, no matter how patriotic he is, this is simply cutting his flesh.

The exchange rate between the Chinese dollar and the US dollar was at its peak in the first few years after the reform and opening up, reaching a staggering 1.5 Chinese dollars to 1 US dollar, and then fell rapidly, and by 1986 the exchange rate between the Chinese dollar and the US dollar had become 3.7:1.

In the early nineties, the exchange rate was relatively stable in recent years, and has remained in the range of more than 5 points to one, for example, it is now at 5.3:1.

On January 1, 1994, after the exchange rate was merged, the exchange rate between the Chinese dollar and the US dollar soon fell to 8.7 Chinese dollars to 1 US dollar, which can be said to have depreciated by more than 40 percent, much more ruthless than the 20 percent of the British pound.

There is no way, the inflated price is too serious, 8.7 should be the actual exchange rate of the Chinese currency and the US dollar, if the high exchange rate is forcibly maintained, it can only weaken the competitiveness of domestic enterprises, which is not conducive to exports.

In the next two or three decades, exports will be the first pillar of China's economic development, until the peak of 2008, when the contribution of exports to GDP reached 37%, while the real estate industry, known as the so-called economic pillar, has been within 10%, even if you count related industries, it is not more than 15%.

However, the depreciation of Huaxia currency is not good for people like him who exchange real money and silver from abroad for Huaxia currency.

It is an exaggeration to say that if he had converted one billion dollars into Huaxia coins on December 31, 1993, and the next day, if he wanted to convert these Huaxia coins into US dollars, he would probably only be able to convert them into 600 million US dollars, a loss of 400 million yuan in one night.

Therefore, in the past few years, especially before the exchange rate depreciated in 1994, it was impossible for him to exchange all the dollars in his hand for Huaxia currency, basically how much he used and how much he exchanged.

Moreover, as a big oligarch who relies on manipulating the exchange rate and making money by depreciating the ruble, if he is mixed up on the Huaxia currency, not to mention how much he loses, he really can't afford to lose that person.

Or is his heart not black enough, he has not become a standard transnational big bourgeoisie like Soros, and completely realize the so-called capital without borders, otherwise, before 1994, all the money earned in the country will be converted into dollars, and the wool in the country is what a qualified capitalist should do.

"Okay?" said Dean Zhu with a smile.

"No!

Fang Chen's head shook into a rattle.

Seeing that he really couldn't hide this time, Fang Chen gritted his teeth and said fiercely: "This is what you want me to say, if there is anything wrong, don't blame me, and when you go out of this door, I won't admit that I said these words." ”

Hearing this, Xu Jianshu looked at the pen and paper in his hand, and suddenly fell into self-doubt, is this big guy going to play the trick of covering his ears and stealing the bell and deceiving himself?

He was still scribbling on his side, carefully recording it in black and white, how could Fang Chen say that he could not admit it if he didn't admit it?

But who knows, Dean Zhu actually nodded with a smile.

Fang Chen's words would only be circulated and discussed at the highest level of them, even if any decision was made because of Fang Chen's words, it was impossible to announce to the outside world that it was because of Fang Chen that he did so.

After barely covering himself with the last layer, a fig leaf as thin as a cicada's wings, Fang Chen coughed and said: "The first thing to talk about is the exchange rate problem, now the Huaxia exchange rate is too high, much more serious than the pound, and the excessively high exchange rate will not only cause our enterprises to export difficulties, but more importantly, it will be possible to fall into the strange situation of Russia, who can exchange dollars, who can make a lot of money." ”

"In fact, this is to put the little money that the people and enterprises have worked hard to earn into their own pockets, and to put it mildly, this is to enrich their own pockets, damage the public and private interests, and to put it badly, that is, to dig the corner of socialism. ”

Fang Chen earned it by inverting the exchange rate, and the second pot of gold in Russia naturally knew the serious problems that would arise from the inflated exchange rate.

After all, except for the United States, it is impossible for any country to increase its domestic wealth by turning on the money printing press, and all the extra printed paper money will eventually turn into inflation and be borne by its own people.

If you want to increase wealth, you must make the things you produce produce real value, which is called circulation and exchange.

"What do you think of adopting a floating exchange rate system?" asked Dean Zhu after a while.

"I don't think it's appropriate at this stage, our finances are just too fragile. Fang Chen smiled bitterly.

Dean Zhu nodded silently.

A country's exchange rate is divided into two systems: floating exchange rate and fixed exchange rate.

The fixed exchange rate is an exchange rate system in which the exchange rate is basically fixed between the currencies of various countries and the fluctuations are limited to a certain range, that is, the exchange rate is endorsed by the credit and foreign exchange reserves of the country.

The floating exchange rate is the foreign currency value of a country's currency, which is allowed to rise and fall freely according to the supply and demand situation in the foreign exchange market, and the fluctuation range of the exchange rate is not fixed, and most of the current international exchange rate system is a floating exchange rate system.

Since March 1973, the global financial system has ceased to exist with a fixed exchange rate system centered on the United States dollar and has been replaced by a floating exchange rate system. Most of the countries that implement the floating exchange rate system are the world's major industrial countries, such as the United States, the United Kingdom, Germany, and the East and the United States.

Under the floating exchange rate system, countries no longer stipulate the range of fluctuations in the exchange rate, and the central bank no longer bears the obligation to maintain the upper and lower limits of fluctuations.

To put it simply, the floating exchange rate is the market exchange rate, and the changes in foreign exchange supply and demand caused by a country's balance of payments will be the main factor affecting the change of the exchange rate, which can better reflect the actual exchange rate of a country.

In countries with a surplus in the balance of payments, the supply of foreign exchange increases, the price of foreign currencies falls, and the exchange rate falls.

In countries with a deficit in the balance of payments, the demand for foreign exchange increases, and the price of foreign currencies rises and the exchange rate rises.

With a fixed exchange rate, once it is targeted by financial predators like Soros, if the country's central bank cannot resist the attack of these financial predators, it can only be converted to a floating exchange rate, which is like opening its soft belly and letting these financial predators slaughter.

There is such a big risk in fixed exchange rates, but why are most developing countries still willing to adopt fixed exchange rates, and even countries such as Thailand and Indonesia were forced to change their exchange rate regimes to floating exchange rate regimes during the 1997 financial crisis.

It was only in 2005 that China announced the implementation of a managed floating exchange rate system based on market supply and demand, adjusted with reference to a basket of currencies.

The reason for this is that, compared with the floating exchange rate, the fixed exchange rate reduces the uncertainty of economic activities, is conducive to the accounting of costs and profits of economic agents of international trade, international credit and international investment, and avoids the risk of exchange rate fluctuations, which is beneficial to developing countries.

Moreover, countries with fixed exchange rates tend to overvalue their currencies, after all, everyone wants to make their money worthwhile.

As for why Huaxia was not targeted by Soros in 1992, the first is because Huaxia's size is too small for Soros to look down on, and the second is to thank Huaxia for the construction of its backward financial system, which has no tools for Soros and other financial giants to short the foreign exchange market.

However, this does not mean that the exchange rate is not important to China, and the exchange rate will always be an important link that cannot be bypassed in an outward developing country, and it is related to the important development of the entire national economy.

Especially for China, which is extremely thirsty for foreign exchange at this stage.

This can be seen from the fact that domestic enterprises have always been heroes on whether they can export to earn foreign exchange.

At this time in China, as long as the products produced by an enterprise can be exported to earn foreign exchange, it does not matter if it loses money, the state will not only have corresponding subsidies for it, but the relevant local departments will also regard it as a sweet and sweet spot, a treasure in the palm of the hand, which can be said to be money and money, honor and honor.

In the eighties and nineties, when foreign capital came to invest, when China gave preferential treatment, most of them required that a considerable proportion of their products should be exported, or all products must be exported, and they must not flow into China.