From September 1993 to the end of 1994, almost half of the world was enveloped in an atmosphere of misery and grandeur.

The sterling crisis in 1992 and the Southeast Asian financial crisis in 1997 were detonated at the same time, and the tragic financial disasters spread throughout the entire financial circulation field, causing terrible and profound changes to the world economy.

The choice of the British to abandon the Hong Kong dollar did not allow them to succeed in saving the pound. In the face of the combined siege of the whole of Europe across the Channel, the British financial industry fought a fierce and continuous battle.

However, the fact that the British counterattack was so fierce did not mean that there would be any fluctuations in the war situation.

In fact, perhaps in the next few decades, when we look back at the global financial turmoil of 1993, we will discuss these key people, events, decisions, and other factors endlessly, and assume what different trends will be caused if various situations occur or do not occur, or reflect on what lessons are worth learning behind the financial turmoil.

People will write articles, publish books, make movies, make documentaries, curse, worship, hate or rejoice and reflect, will beautify or scandalize this stormy experience, and will fiercely defend or praise it......

In September 1993, the financial turmoil may have been so intense that the parties themselves could not realize what they had done and how they would be evaluated in history. However, on the other hand, all this was doomed long before it happened.

No matter how fiercely the British resisted and how miserable their hoarse cries were, they could not change the fate they would face.

Maybe it was just a small blow to Xiangjiang at first, and the purpose was just to make them recognize their position. However, when the pebbles are thrown into the lake, it is already unknown where the ripples will spread.

Especially for the Xiangjiang economy this time, Xinke is coordinating actions with the Power Semiconductor Alliance. It is true that there are many large European companies and large conglomerates in this alliance, but let's not forget that the most advanced and powerful country in the semiconductor industry has always been the United States.

If you want to promote the IGBT market, of course, you can't do without Philips, Siemens, STMic, these European giants, but can you do without Motorola, Texas Instruments, onsemi and Fairchild? amp; Don't look at ATamp; amp; T was later dismantled, but Qualcomm had to give it to ATamp; amp; Pay royalties!

Pulling the semiconductor industry to make trouble, you can't get around the United States.

So it goes without saying that things have changed. Greenspan, who is anxious in the Middle East, has the idea of harvesting the pound, and Germany, France and Italy naturally want to hitchhike and beat the water dogs, how can the British withstand such a lineup?

Of course, the British resistance was fierce.

After Germany, France and Italy jointly raised interest rates, the UK quickly followed suit, and even raised interest rates twice in a row in one day!

2% at a time, 3% at a time, and a 5% increase in interest rates twice in one day is a record move in the entire history of finance. But even so, even if the British raised tens of billions of dollars to buy the pound sterling and sold the mark, franc and lira as if they were not paying for it, it would be nothing more than a death throes.

To put it bluntly, how refreshing it has been for the British to eat the overvalued exchange rate in the past two years, and now they have to pay back several times the debt!

After the British adjusted the exchange rate by 1 percent for the third time as a last resort, they soon encountered the problem of insufficient liquidity! As soon as your interest rate is high, everyone will deposit their money in the bank to eat interest, and the decrease in currency in the market will cause insufficient liquidity!

And the British people are also facing the same problems as Xiangjiang, after the interest rate is raised, the entire stock market and even the real economy are disrupted - it is more difficult to borrow money from British banks, the interest needs to be paid is also higher, the cost of business operation has of course increased, in order to cover the cost, they have to lay off employees, cut expenses, and workers who lose their spending power after losing their jobs......

There is also a limit to raising interest rates.

Fortunately, the Hong Kong dollar will die faster than the pound, otherwise the British would probably have beaten the idea of the US dollar in the hands of the HKMA.

But when the Hong Kong dollar announced its decoupling from the US dollar, that is to say, we could not hold the previous linked exchange rate system, and now the Hong Kong dollar and the US dollar can only adopt the floating exchange rate system in the market.

With the release of this signal, the Hong Kong dollar in the entire market immediately plummeted. There was no pause at the 7 Hong Kong dollar mark, and then it fell all the way from 6 Hong Kong dollars and 5 Hong Kong dollars to about 4.3 Hong Kong dollars to 1 US dollar, and there was relatively strong support.

The value of the entire Hong Kong dollar has been evaporated by nearly half of its value in a short period of time. In the entire Xiangjiang River, whether it is Li Bancheng or the homeless man living in the cage house, there is no one who does not mourn all over the wilderness.

And where did all this begin? With the launch of the special news documentary produced by the Chinese channel of Satellite TV, the Hong Kong government, which wants to drive away the Xiangjiang wafer factory, is simply pointing out for a while.

Immediately afterwards, due to the breakthrough in the key technology of the lithography machine on the mainland, and the IGBT results began to surface, the historical mission of Xiangjiang Wafer Factory has obviously ended. As a result, Heung Kong Wafer Fab announced that it will gradually shut down the entire Heung Kong Wafer Fab in addition to maintaining a R&D and design center in Heung Kong.

As for the current Xiangjiang wafer fab, where will it go?

The new factory site is not far away, near Nanhua Village on the bank of the river between the two ports of Luohu and Huanggang, close to Huaqiang North......

The new Shentuchuan fab will expand at least twice the capacity of the Heung Kong fab, and the new capacity will be dominated by 0.18 micron technology, which is more advanced than the process of the Heung Kong fab. The old equipment relocated from the Heung Kong wafer fab will continue to operate, and in principle, priority will be given to employing Heung Kong people in the original position.

It's just that there is one point, because this is a mainland enterprise, so the salary will be RMB-ㄟ (▔,▔)ㄏ.

Of course, Fukatogawa Wafer Fab is a privately owned company with commercial operations, so it strictly adheres to the rules of the market. Workers' wages are measured in terms of the value of production, and of course workers on the 0.18 micron production line earn more.

As for the announcement of the decoupling of the Hong Kong dollar, Bank of China Hong Kong announced the launch of RMB exchange, deposit, credit and other businesses, which is a normal market economic behavior.

Hong Kong, you say?

How can the Hong Kong government have the energy to care about such a thing, they are anxious to deal with the citizens of Xiangjiang who go out for a walk. The British government in Hong Kong has rich experience in this regard, and the word "royal" of the Royal Police was not obtained by suppressing riots in 67?

Of course, the worst is only half the city. Xiangjiang has long been no longer an economic problem, but a matter of standing in line. If you are on the wrong side, you will have to pay the price. At this time, don't say how much pressure the Hong Kong government has, it's your sin to not withstand the pressure.

What kind of king does not see the king's careful thoughts, and only at this time did he realize that everyone had never been on the same level at all.

Against the backdrop of the collapse of Heung Kong Real Estate, Bancheng Group had to sell a large number of its assets to repay the loans of various banks. As for where these properties ended up, of course, it is impossible to see from the outside. However, after that, a large amount of land that had not been developed before due to property rights was actually developed one after another.

Especially in the two districts of Yuen Long and Tai Po, because of the proximity to Sham Tu Chuan, housing prices can even rise slightly against the market. After the relocation of the Heung Kong Wafer Fab and its upstream and downstream affiliates, some of the land was actually built into low-rent housing in a manner similar to a staff dormitory.

The people of Xiangjiang may have lost a lot in this disaster, but at this time they do not know what they have gained.

After the decoupling of the Hong Kong dollar from the US dollar, the exchange rate continued to fluctuate, resulting in the de facto entry of the renminbi into Hong Kong. Although the Hong Kong government has organized several crackdowns, it has not been able to stop the spread of the renminbi at all – for the simple reason that in this global financial turmoil, the renminbi has stood still!

In September, the Hong Kong dollar announced its decoupling from the US dollar, and finally encountered a strong protective force at around 4 Hong Kong dollars. The international tour capital was unwilling to give up halfway, and fought with the disk protection funds for two days. Hu Wenhai, who lived in seclusion on the mainland, appeared in Shentuchuan two days later, shoveling the first shovel of soil for the foundation laying of the Shentuchuan wafer factory.

The next day, the exchange rate of the Hong Kong dollar rose to 4.5 Hong Kong dollars to 1 US dollar, and international travel funds began to leave Hong Kong like sardines that encountered great white sharks.

The international tourist capital that evacuated Hong Kong soon found new prey, and Soros casually dealt a heavy blow to the Thai economy in the interval between the battle with the pound. Thailand, which was still watching the drama on the sidelines, didn't know what was going on, and it had already collapsed under Soros's hedging operation.

Unlike the tough battle in Xiangjiang, Thailand is like a mango that has turned yellow, and after breaking the skin, it is a sweet and greasy flesh.

In 1993, Thailand's foreign exchange reserves were 24.4 billion US dollars, and the export volume of that year was only 3 billion US dollars, but the foreign debt was as high as more than 37 billion US dollars.

The Quantum Fund mobilized only $3 billion in funds to capture Thailand with the help of international funds. The tragic scene after the loss of the Thai baht exchange rate was completely presented in front of the citizens of Xiangjiang by the financial program of Satellite TV Chinese Channel, compared to which Xiangjiang can be said to be far from hell.

Is it because the capital predators are more warm? No, everyone in Xiangjiang knows that it is because someone shoveled a shovel of soil.

So, happiness is comparative. If you haven't been beaten, you don't know what it means to be in a blessing and not know how to be blessed.

After Thailand's vulnerability was exposed to the world, it was not long before three other tigers of the "Asian Tigers" were similarly noticed.

Malay, the Philippines and Indonesia were shocked.

Zhou Shuo said

That's right, my Xiao Ai shares are full!(??????)??