Because of Henry, the whole of Asia was even more miserable than in the previous life, and Henry borrowed heavily from every country, which led to the Asian financial crisis becoming even more serious. In Thailand alone, the Thai baht depreciated by more than 60 percent from January 1997 to December 1997, and Henry earned $100 billion or two! If the Thai baht depreciated by 100 percent, Henry would have earned half of the $75 billion Thai baht he had borrowed, or $37.5 billion.

Henry grabbed so much money at once, and the Thai people lived in even more misery from then on......

But worse is yet to come.

From 1996 to 1997, Henry borrowed nearly 100 billion US dollars from Indonesia. So far, the rupiah has depreciated by more than 65 percent. However, this is far from the limit. Indonesia was one of the most tragic in the Asian financial crisis. At present, although the International Monetary Fund IMF has lent Indonesia to survive the crisis, Henry knows that after the outbreak of the Korean financial crisis, Indonesia's financial turmoil will resume again, and Indonesia will face the worst economic recession in history!

During the current Asian financial crisis, there were many bankruptcies in other countries, but large companies were so powerful that they barely survived. South Korea alone has closed down many large companies, such as Kia Group (8th), Halla Group (13th), Hanbo Group (14th), Jinro Group (19th), Sammy Group (26th), Haitian Group and Korea Securities.

Why are so many large enterprises in South Korea going bankrupt one after another? As we all know, South Korea's development model is very unique, and the South Korean government has concentrated its superior resources to support some large companies to make them stronger and bigger. According to statistics, the top 30 conglomerates account for three-quarters of South Korea's total economy. Imagine a huge South Korea, with millions of companies, but just 30 conglomerates accounting for three-quarters of the country's economy. This shows how terrifying the big companies in South Korea are!

Some people describe the life of a Korean as: birth, taxes, three stars!

And this description is the most appropriate, such a large company like Samsung, the South Korean government will continue to lend to these companies, let them get involved in all industries, monopolize the entire Korean market, clothing, food, housing and transportation, everything. When the Asian financial crisis came, South Korea's foreign exchange reserves were exhausted, how could the South Korean government lend money to these companies? In the end, they could only go out of business!

The collapse of the Korean company naturally welcomed Henry. However, due to the conservative and xenophobic economic market in South Korea, the South Korean government does not allow foreign ownership of more than 25% of South Korean listed companies. Even though many Korean companies have gone bankrupt, Henry can only watch and eat. However, the United States and Europe have been coveting South Korean companies for a long time, and at this time South Korea is suffering from a financial crisis, will they not take advantage of the fire?

In December 1997, the International Monetary Fund (IMF) said it could bail out South Korea, but that it would have to sign some agreements, some that South Koreans saw as "humiliating and humiliating." There are many contents of the agreement, and there are two main points that make South Koreans feel very ashamed: one is to open up the capital market and allow foreigners to hold more than 50 percent of the shares, and the other is to remove restrictions on foreign mergers of domestic enterprises, such as telecommunications, banking and other monopoly industries, and to allow the United States to establish bank branches.

Here, why did the International Monetary Fund (IMF) help Europe and the United States to pry open up the Korean market?

The International Monetary Fund is actually a fund under the management of the United Nations, but more precisely, it is a relatively independent joint-stock fund. Each country that joins the IMF will initially have 250 voting rights. Then for every $100,000 donated, 1 additional share of voting power will be awarded. If you want to have a say in the IMF, you can only donate money to it. As of now, the IMF has more than $200 billion in funds.

Among them, Europe and the United States occupy the lion's share, and basically, the IMF is what they say.

When the Asian financial crisis broke out, the IMF was "fighting fires" everywhere, and did you really think it was that good? No, no, no, every country that was "bailed out" had to sign some agreements, and you don't have to think about it to know which countries these agreements are beneficial to!

The IMF's proposed agreements are about to cause an uproar in South Korea.

Many citizens put the word "IMF" on toilets, cars, elevators and other places, and then stepped on them with their feet to show their disgust with the IMF. At the same time, there were many demonstrations across the country against the IMF's virulent agreement.

Karina was also worried that if the South Korean government did not sign an agreement with the IMF, then South Korea would be a turtle shell, and even if it had money, it would not be able to crack its shell......

However, Henry smiled slightly, not worried at all, history proves that South Korea will definitely sign.

At this time, South Korea has been in a storm, and the government must get funds to stabilize the economy.

Soon, the top officials of the South Korean government gathered at the presidential palace, and after a day of deliberations, finally decided to sign an agreement with the IMF to accept a $57 billion loan aid.

On the day the IMF signed the agreement, a large group of companies from Europe and the United States arrived in South Korea and began to look for companies. For a time, there were many foreigners waving checks and shouting to buy this and that, and Koreans, who are extremely rich in national pride, set this day as "National Shame Day"!

At this time, to Henry's surprise, the Korean people actually spontaneously organized and launched the "Pooling of Foreign Exchange Copper Coins Activity". Citizens have raised the existing foreign exchange change in their hands to replenish the national treasury to withstand the impact of the financial crisis, and many people even donated gold and silver jewelry. You must know that South Korea has been affected by Asian finance, and prices have risen one after another, such as flour, sugar, edible oil and other daily necessities have risen by 50%.

Although the spirit of the Korean people coming together to get through the difficult times is touching, Henry will not give up on looting the wealth of South Korea.

1998 will be the worst time for South Korea's real estate, and it is the best time to buy the bottom at this moment. Global Land officially entered South Korea, purchasing land in Seoul, Jeju Island, Busan and other places. In fact, Global Land has also sent a large number of staff in Bangkok, Thailand, Singapore, Malaysia, Indonesia and other places, only waiting for the price to fall to the lowest, and immediately pocketing some good land. From now on, the name of Global Land will become more worthy of its name!

In South Korea, the company that Henry most wants to buy is, of course, Samsung. It's just that Samsung is a super group supported by the South Korean government, and Henry can't buy it at all. Since it can't be sold, it must be suppressed as much as possible. The South Korean government has given both funds and projects, almost helping Samsung to open up! Any company will be envious, jealous and hateful after seeing it.

But now, South Korea has no money, Samsung owes debt, and if it is not cut hard at this time, when?

(To be continued.) )