"Yang, I came here this time, I want to borrow a loan from your Huaxing Technology Group Company to help our country tide over the current difficulties. ”

In the evening, when the prince of the caliph was talking to Yang Jie alone, the king of the caliph, who had become outside the Emirate of Baddi, spoke to Yang Jie.

Yang Jie was stunned, he didn't expect that His Majesty the King would come over this time and borrow money from his company.

When Huaxing Technology Group Company entered the Middle East market, he was not very optimistic about the model of Baidi that can obtain huge benefits from tourism, real estate and financial markets, and sure enough, after the outbreak of the subprime mortgage crisis, as he predicted, there is now a capital flight from Baidi, and a large amount of hot money flows out of China.

In recent years, Baidi has built a lot of projects, and most of the financing of construction projects has been through international syndicates, and the external debt is very serious, accounting for about 97% of GDP.

Most of the Baidi-related entities are owned by the government, and the total debt of these related entities is higher than that of the government itself, amounting to nearly $59 billion, including $23.9 billion in bonds and $35 billion in loans, as Yang Jie is aware.

The pressure of capital flight and currency depreciation has made Baidi's capital account quickly turn from a surplus to a deficit, real estate has shrunk, the real estate market has fallen into a depression, and a large number of real estate projects are facing the dilemma of suspension or cancellation, and now countries have tightened monetary policy, making Baidi's financing more and more difficult, the capital chain is broken, and the emirate is like a car driving on the highway suddenly bursting a tire, and a debt crisis has erupted, resulting in its assets now having to be forced to restructure.

In recent years, Biddy has invested heavily in the international financial industry, and under the continuous impact of the financial crisis, Biddy's investment has suffered serious losses, laying a hidden danger for the debt crisis.

This includes the $5.1 billion purchase of a nearly 10 percent stake in MGM, the entertainment giant in Eagle Sauce, which has now dropped from $84 to $16.8 now.

In addition, other investment firms of Baidi spent nearly $3 billion to buy shares in Deutsche Bank and Standard Chartered Bank, and now the shares of these two banks have also fallen sharply.

These investments also made Biddy lose money.

"Your Majesty, how much money do you need from us?"

Yang Jie asked.

"If you can give us $10 billion in aid, it will help us a lot!"

King Caliph said: "We are ready to allocate $4.1 billion to pay off the debts of the real estate companies of the Bydi World Group. For the remaining US$5.9 billion, we have decided to pay interest on Baidi World Group's debt due by April next year and the group's previous operating expenses. ”

He looked at Yang Jie and said, "Don't worry, we will give priority to repaying the money you lent us to your company." ”

Yang Jie smiled: "I believe that Baidi will be able to get out of the predicament soon, and our Huaxing Technology Group's business in Baidi and the emirate region will continue forever." ”

Although Baidi's sovereign debt is large, the pressure to repay the debt when it is due is also relatively high, and these debts will not be paid off in the next few years, but will be renewed or replaced by new debt instruments.

In this regard, Yang Jie is not very worried about Baidi's ability to repay his debts.

Borrowing to repay debts has always been a refinancing game, no one will expect them to actually repay debts, Yang Jie can also guess that Baidi will refinance debt at maturity, especially with the current interest rate so low, debt repayment is still under control.

Whitedy has long been a thriving commercial center in the region's trade geography, and Bydi Harbour plays a very important role in the city's economic development.

Baidi Harbour has always been a safe and important seaport for small and medium-sized vessels loaded with various cargoes for re-export to different regions such as the Gulf region, the Indian subcontinent and East Africa.

There are no foreign exchange controls on Baidi's market, which is very open and easy to access. The import tax here is generally 4%, and the telecommunications facilities are of the highest standard, serving the thriving financial and service industries. Energy is also abundant, and even tap water, a perennial problem that once plagued the Middle East, is now solved by desalination.

The transport infrastructure is comparable to any developed place in the world. As a hub for sea and air transfers, Baidi Airport operates nearly 300 daily flights to around 130 destinations.

In terms of maritime transport, more than 125 of the world's major shipping routes will be served by two ports in Baidi, which are surrounded by free zones where foreign companies can have 100% ownership and are exempt from corporate and personal taxes. In addition, there are no restrictions on the repatriation of profits. There is also the only Lloyd's certified cold storage in the Middle East.

It is home to many household names, and 70% of Baidi's imports pass through it and are re-exported to other countries, usually to neighbouring countries.

It is true that Biddy is in trouble now, but as long as he survives, the place can quickly return to its former prosperity.

Baidi is an entrepot trade center in the Middle East, relying on the establishment of free trade zones and duty-free tax to attract foreign business, and its tourism industry is booming, which in turn drives a lot of real estate investment.

This kind of trade, port economy, leisure and tourism and other non-oil economic growth is relatively stable, and the Baidi debt crisis can still be resolved in a few years.

Now Huaxing Technology Group is also saving a lot of cash in hand, although it also invests a lot of cash in research and development every year, but the company earns more money, and still has hundreds of billions of dollars in hand, which can be said to be a giant company with strong global capital, more than the sovereign funds in the hands of these big dogs in the Middle East.

Now it is not difficult for Yang Jie to come up with 10 billion US dollars to aid Bidi, the key is to help His Majesty the Caliph now, and in the future, this money can be earned back from Bidi and the emirate region several times and tenfold.

Compared with the replacement of these heads of government in Western countries, these kings and crown princes in the Middle East have been in power for a very long time, and it is a very stable investment to have a good relationship with these kings.

In recent years, Huaxing Technology Group Co., Ltd. has carried out many businesses in Baidi and the emirate region quite smoothly, obtained a lot of engineering orders, and made a lot of money.

Of course, this is also because Yang Jie promised the caliph what he promised before, and he also set up a photovoltaic company with the Baidi side to build a solar park, and also helped the Baidi side train a group of engineering and technical personnel, and the crown prince of the caliph is still very satisfied with this.