Chapter 326 Black Monday (Wed)
CCP (Communist Party of China)19 was held in Beijing from October 18 to October 24, 2017.
On November 3, IphoneX was listed, shipments were scarce, Apple's stock price fell, U.S. President Trump will visit China from November 8 to 10, and on November 11, e-commerce Double 11 Day, a new high.
We at the Warclub think tank predict that the collapse of the US stock market in November 2017 will trigger a round of economic crisis. This is the first chapter, summarizing the coincidences of history. Stay tuned for the next chapters. This chapter is purely a coincidence of historical summaries.
18 was held in Beijing from November 8 to 14, 2012.
Japanese Prime Minister Yoshihiko Noda said in an interview with U.S. media on September 7, 2012 that the Japanese government's "nationalization" of the Diaoyu Islands was "for the purpose of continuing to maintain management in a stable and stable manner," and that anti-Japanese demonstrations against the Japanese government's nationalization of the Diaoyu Islands took place again in various parts of China on September 16. Protests were held in 85 cities, including Beijing, Shanghai, Guangzhou, and Shenzhen, and on September 19, Vice President Xi met with U.S. Secretary of Defense Leon Panetta and spoke for the first time about the Diaoyu Islands: "Japan should pull back from the precipice and stop all erroneous words and deeds that undermine China's sovereignty and territorial integrity." It is hoped that the US side will proceed from the overall interests of regional peace and stability, be cautious in its words and deeds, refrain from intervening in the sovereignty dispute over the Diaoyu Islands, and refrain from doing anything that may aggravate the contradictions and further complicate the situation. ”
17 was held in Beijing from October 15 to 21, 2007.
On October 16, 2007, the Shanghai Composite Index reached a high of 6,124.04 points, and on October 28, 2008, the Shanghai Composite Index reached a low of 1,664.93 points.
At 20 o'clock on August 8, 2008, the Beijing Olympic Games opened, and on August 24, 2008, the Beijing Olympic Games closed.
According to the financial report released on September 10, 2008, "Lehman Brothers" lost $3.9 billion in the second quarter, and the stock price has fallen by 95% from the peak price at the beginning of 2007, and on September 14, 2008, the Federal Reserve and 10 major financial institutions established a $70 billion equalization fund. At 10:00 a.m. on September 15, 2008, Lehman Brothers filed for bankruptcy protection with the court, and on the same day, Bank of America issued a statement announcing the acquisition of Merrill Lynch, the third largest investment bank in the United States, for a total price of nearly $50 billion. On September 15, Wall Street ushered in a veritable "Black Monday", U.S. stocks plummeted, and the Dow Jones index recorded the largest single-day drop since the "9/11" incident, and the global stock market also plummeted.
16 Held in Beijing from 8 to 14 November 2002.
It first broke out in Shunde, Guangdong Province on 16 November 2002, and when the outbreak first broke out in December, the Guangzhou Municipal Government and the Guangdong Provincial Government did not release relevant information or inform Hong Kong of the situation. At that time, the government banned media coverage of the illness and cut off news footage on Hong Kong television. The local government has also asked the media not to exaggerate the epidemic in the area, so as not to cause panic among the people.
4. From September 12 to 18, 1997, CCP15 was held in Beijing.
On July 1, 1997, Hong Kong returned to China.
On July 2, 1997, Thailand announced that it would abandon the fixed exchange rate system and implement a floating exchange rate system, triggering a financial turmoil throughout Southeast Asia. On the same day, the exchange rate of the Thai baht against the US dollar fell by 17%, and foreign exchange and other financial markets were in chaos. Under the influence of the fluctuation of the Thai baht, the Philippine peso, the Indonesian rupiah, and the Malaysian ringgit have become the targets of international speculators.
14 was held in Beijing on October 12~18, 1992.
On the evening of December 25, 1991, the Soviet flag in the Kremlin was lowered, marking the official dissolution of the Soviet Union
In mid-September 1992, the crisis finally erupted. Rumours of an imminent depreciation of the Italian lira are circulating in the market, and there is a huge pouring of lira selling. On 13 September, the Italian lira depreciated by 7%, and while it is still within the limits of the European exchange rate system, the picture looks pessimistic. This gives Soros ample reason to believe that some members of the European exchange rate system will not eventually allow the European exchange rate system to determine the value of their own currencies, and these countries will withdraw from the European exchange rate system.
On September 15, 1992, Soros decided to short the pound in large quantities. The pound fell all the way to 2.80 against the mark, and although there was news that the Bank of England bought 3 billion pounds, it still failed to stop the pound from falling. By the end of the evening, the pound had fallen almost to the lower limit of the European exchange rate system against the mark. The pound is on the verge of leaving the European exchange rate system. The Chancellor of the Exchequer has taken various measures to deal with the crisis. First, he once again asked Germany to lower interest rates, but Germany once again refused, and in desperation, he asked the prime minister to raise the country's interest rates by 2%-12%, hoping to attract money back through high interest rates. During the day, the Bank of England raised the interest rate twice, which reached 15%, but with little effect, and the pound did not stand above the minimum of 2.778. In this campaign to defend the pound, the British ZF used $26.9 billion worth of foreign exchange reserves, but ultimately suffered a crushing defeat and was forced to withdraw from the European exchange rate system. The British called September 15, 1992, the day of their exit from the European exchange rate system, Black Wednesday.
13 was held in Beijing from October 25 to November 1, 1987.
The crash began on October 19, 1987. At 9:30 a.m., as soon as the New York stock market opened, the Dow Jones index suddenly fell after a period of trembling, and panic enveloped the entire New York stock market. By the time the market closed, the Dow Jones index had plummeted by 508.32 points, or 22.62%, surpassing the record for the collapse of the New York stock market on October 29, 1929. If the abstract index is converted into currency, the decline in the big New York stock market has cost the market $500 billion in market capitalization. This amount was equivalent to almost one-eighth of the gross domestic product of the United States that year. On October 19, the Financial Times index in London fell 183.70 points, or 10.8%, the largest daily decline in the British stock market, and the Nikkei index in Tokyo fell 620 points on October 19, and the 20FL fell another 3,800 points. The cumulative decline was 16.90%, Hong Kong's Hang Seng Index fell 420.81 points, down 11.2% on October 19, and on October 19 or 20, the French stock market fell by 11.8%, 10.5% and 12.5% respectively, and the Brazilian and Mexican stock markets plummeted by more than 20%. After the collapse on October 19 and 20, the crisis in global stocks is not over. On October 23, panicked investors began to sell dollars in the foreign exchange market again, snapping up hard currency, causing the dollar to depreciate sharply, and on October 26, affected by the depreciation of the dollar and the collapse of stocks in the surrounding markets, the Dow Jones index plummeted again by 156.63 points, or 8.03%, Japan's Nikkei index fell 4.75%, and the stock markets of France, Switzerland, and the Federal Republic of Germany fell by 7.0%, 10.0%, and 10.1% respectively. After being forced to suspend trading for 4 days, the Hong Kong stock market resumed at 11 a.m. on the 26th. At the end of the day, Hong Kong's Hang Seng Index plummeted by 1,120.7 points, a daily decline of 33.33%, the highest decline in the history of the world stock market. Throughout October 1987, the stock market crash caused huge losses in the world's major stock markets. U.S. stocks lost $800 billion in market value, Japan lost $600 billion, Britain lost $140 billion, Taiwan lost $32 billion, and Hong Kong lost $30 billion. The crash caused a total of $1,792 billion in losses to the world's major stock markets, 5.3 times the direct and indirect economic losses of $338 billion in the First World War.