Chapter 74 The Causes of the Financial Crisis

Lin Cheng wants this urban beauty to be his trader, naturally it can't be decided in a few words, Lin Cheng wants to inspect the other party, and the other party also has to check whether Lin Cheng has the economic strength, and can invite her to operate specifically for Lin Cheng.

The three of them came to a high-end western restaurant in Central, and the reason why they didn't go to the Chinese restaurant was not because they admired the foreigners, but because the Chinese restaurant was too lively and noisy to talk about work.

Speaking of now, Lin Cheng also knows the name of the other party, the other party's name is Chen Huiyi, a turtle who has just returned from studying at Lancaster Business School in the United Kingdom, serving as an intern manager of Jinquan Securities, because he has just been in office for less than a week, his current performance is zero, and Lin Cheng is the first customer she has pulled since she worked at Jinquan Securities.

Lin Cheng has no impression of Chen Huiyi in later generations, and there is no rebirth in the novel in which the protagonist casually meets a person who is the bloody bridge of the working emperor under Li Chaoren, Lin Cheng has a lot of complaints about this, and secretly complains in his heart that God is unfair, why can't he meet working emperors such as Huo Jianning and Gan Qinglin, they are loyal and can make money, and they will make a fortune by giving one of them!

Getting back to the point, after eating a few steaks, Lin Cheng said sincerely to Chen Huiyi: "The so-called good birds choose trees to perch, at this stage you and I don't know each other very well, we have to investigate to gain mutual trust, I think you are also a professional financial talent, you should have your own unique views on the current financial war in Thailand, I want to hear it." ”

The short selling of the Thai baht by the quantum fund led by Soros is currently the largest financial event in the world, and it is reported every day in the financial news, and it can be said that all kinds of statements have been repeated by experts, and it is not easy for Chen Huiyi to say new ideas.

In June 1984, Thailand began to implement the exchange rate system of pegging to a "basket of currencies", and the main currencies and weights in the basket were: 80%~82% of the US dollar, 11%~13% of the Japanese yen, and 6%~8% of the West German mark. The Bank of Thailand publishes the central exchange rate of the Thai baht against the US dollar on a daily basis, with a floating range of ±0.2% of the central exchange rate. Under this institutional arrangement, the exchange rate of the Thai baht against the US dollar has been maintained at about 25:1 for a long time, which has become the de facto pegged to the US dollar. ”

Hearing this, Lin Cheng showed a hint of approval, nodded and said, "Go on." ”

Chen Huiyi continued: "In the 90s of the 20th century, Thailand's international capital flows showed the following main characteristics: first, the scale of international capital flows expanded rapidly, second, securities investment increased significantly, third, a large inflow of short-term capital, and fourth, large-scale borrowing of foreign debt. As the Thai baht continues to follow the appreciation of the US dollar, Thailand's exports are sluggish, the profit margin of export-related industrial investment has declined, and a large amount of foreign capital has flowed into the real estate market and stock market, which has greatly pushed up real estate prices and stock prices, and finally formed an asset price bubble. ”

Chen Huiyi's mouth was a little dry after a long speech, she drank a cup of coffee and continued: "Thailand's pegging system has weakened the independence and effectiveness of monetary policy, when the dollar enters the appreciation channel, the Thai government will soon realize that the Thai baht continues to peg the U.S. dollar will undoubtedly put the "export-oriented" Thai economy to death, but once the pegging system is abandoned, it will definitely cause the depreciation of the Thai baht, increase the domestic debt burden, and cause corporate bankruptcy. Unemployment among workers and rising non-performing loans in financial institutions have made Thailand's economic development gains over the past decade completely reaped by Soros, who have made wedding clothes for others. ”

Lin Cheng listened to the continuous nod, although he has a certain understanding of the Asian financial crisis, but it is all hindsight, for Thailand financial crisis does not understand at all, why on July 2, the Thai government announced the implementation of a floating exchange rate system, giving up the 13-year-old Thai baht and the US dollar pegged exchange rate system, resulting in the depreciation of the Thai baht is not at all understood, but after listening to Chen Huiyi's introduction to the professional, he finally understood, it turned out that everything was the Thai government as a cocoon, from the first day he implemented the Thai baht and the US dollar, he was destined to be sheared by the American capitalists。

Before the outbreak of the Asian financial crisis, Thailand can be described as high-spirited, with the image of the head of the Asian Four Little Tigers is dazzling, a look to surpass the Asian Four Little Tigers, on the occasion of the return of 97 Xiangjiang to China, the Thai government even said that it wants to replace the status of the Asian financial center of Xiangjiang, and the whole country is in a glorious era of cooking oil.

However, when the American capitalists decided to shear their sheep, they soon discovered that everything in Thailand was just a false prosperity, and the Soros easily punctured the beautiful bubble they had created.

Lin Cheng took a sip of coffee, and then said solemnly: "Your analysis is very good! I have decided, and you will operate my investment account as a whole." ”

Chen Huiyi was overjoyed in her heart, but she tried her best to suppress her excitement, and asked eagerly: "I don't know how much money Mr. Lin invests, if it is too little, I may not personally help you operate, after all, my current position is an investment manager." ”

Lin Cheng smiled faintly and said, "Thirty million Hong Kong dollars, is this number qualified for you to operate it personally?"

"Enough! It's enough!" Chen Huiyi said in surprise: "I'm sorry Mr. Lin, I really didn't expect you to be a multimillionaire, this is really surprising!"

Lin Cheng waved his hand and said extremely forcefully: "This is nothing, I think you Xiangjiang people have too deep misunderstanding of the motherland, in fact, since the reform and opening up of the mainland, basically the annual economic GDP growth rate has risen at a rate of 10 percent, I think in 20 years, don't talk about the small Xiangjiang, even if it is the first in Asia, The world's second largest country will also be surpassed by China, and in the future you will find that there will be more and more rich people in Chinese mainland, and one day, they will even surpass your Li Chaoren in Xiangjiang and become the new richest man in Asia!"

"This is impossible!" Chen Huiyi said categorically: "Mr. Lin Cheng, although I admire your patriotism, but without 50 years of development, China will never surpass the Japanese state, which has been the second largest country in the world for decades, if it was not for the US imperialists who were forced to sign the 'Plaza Agreement' in the 80s, maybe they would have surpassed the US imperialism now!"

Lin Cheng did not argue with Chen Huiyi, he knew that if he was not a reborn, he would not have thought that one day China would surpass the Japanese to become the world's second largest economy.

In 2011, when he learned from the news that China surpassed the Japanese to become the world's second largest economy, Lin Cheng still had an unbelievable expression on his face!