Chapter 798: The full-scale outbreak of the Southeast Asian economic crisis!
The visit of the old man has further boosted the national spirit of the overseas patriots who are eagerly looking forward to the return of Hong Kong Island and deepened their understanding of China's principle of "one country, two systems." They unanimously agreed that the significance of the return of Hong Kong Island has gone far beyond the return of the event itself. The prosperity and development of Hong Kong Island will not only benefit Hong Kong Island, but also benefit China, and will also have a positive impact on the world.
The people of Hong Kong Island also paid great attention to the old man's coming to Hong Kong, and even where the old man passed, thousands of Hong Kong Island citizens gathered there, and even sometimes the sky was not beautiful, and it rained heavily, but it did not stop them from coming, chanting the widely circulated slogan of "Hello old man" to express their respect and admiration for the old man, and they were reluctant to leave in the rain for a long time.
However, at that moment that will forever be recorded in history and make all the Chinese sons and daughters enthusiastic, the old man did not appear at the scene of the handover ceremony of power at the Hong Kong Island Convention and Exhibition Center, but only watched the Chinese People's Liberation Army Military Band play the majestic national anthem of the People's Republic of China through television broadcast at his accommodation, and the Chinese national flag and the regional flag of the Hong Kong Island Special Administrative Region were slowly raised together, and his eyes were full of tears of excitement.
Lin Yu silently accompanied the old man, looking at this gray-haired old man, his heart was full of emotion.
Lin Yu knew that it should have been the old man who was originally speaking in front of the podium inlaid with the national emblem of the People's Republic of China, and it was his old man who single-handedly created this historic moment that washed away the humiliation of China for a century. But he has taken a back seat, and this moment and glory still belong to the current general secretary.
After the handover ceremony was completed, the old man quickly returned to the capital. However, Lin Yu stayed alone, always paying attention to the changes in the turbulent Southeast Asian financial market.
Although Lin Yu is well aware of the various situations of the Asian financial turmoil in his previous life. But in this life, due to his birth, various circumstances have changed somewhat, the most important of which is the "Quantum Fund", the culprit that caused the Asian financial turmoil in his previous life, has now become a chess piece in his hands. Will everything go exactly the same way as in the previous life?
Since Hong Kong Island has just returned. Maintaining the stability of the financial market is not only an economic necessity, but also a political necessity. If international money is taken out of Hong Kong Island, the central government will react strongly. It's a necessity.
Due to historical and practical reasons, people in the domestic financial circles have a far less thorough understanding of the international financial situation than experts from Western countries. This is difficult to make up for in the short term. And since Lin Yu can hang down with yellow hair, he has created such a situation as the Lin consortium. The Lin consortium started with financial investment, and its achievements have attracted worldwide attention. Presumably, his extremely high talent and ability in this area are beyond the reach of others. For a long time, the old man did not treat Lin Yu as an ordinary person, and it was natural for him to consult him about this matter.
Currency wars have never been more merciful than sword wars. The difference. It's just that killing people without seeing blood and killing people without seeing blood, and the result is exactly the same.
In late October, international speculators moved to Hong Kong Island, an international financial center. The spearhead is directed at the Hong Kong Island Linked Exchange Rate System. The authorities on the island suddenly abandoned the exchange rate of the new Taiwan dollar, which depreciated by 3.46% in one day, increasing the pressure on the Hong Kong dollar and the Hong Kong island stock market. On October 23, the Hang Seng Index on Hong Kong Island fell by 1,211.47 points, and on the 28th, it fell by 1,621.80 points, falling below the 9,000-point mark. In the face of the fierce attack of international financial speculators, the Hong Kong Island SAR government reiterated that it would not change the current exchange rate system, and the Hang Seng Index rose to the 10,000-point mark. Then, in mid-November. A financial turmoil also broke out in South Korea in East Asia, and on the 17th, the exchange rate of the Korean won against the US dollar fell to a record 1008:1. On the 21st, the South Korean government had to ask the International Monetary Fund for help, temporarily controlling the crisis. But on December 13, the exchange rate of the won against the dollar fell to 1,737.60:1. The won crisis has also hit Japan's financial sector, which has a large amount of investment in South Korea. In the second half of 1997, a series of banks and securities companies in Japan went bankrupt. …,
Therefrom. The financial turmoil in Southeast Asia has turned into the Asian financial crisis, and the collapse of the monetary systems and stock markets of Southeast Asian countries, as well as the huge pressure of large amounts of foreign capital and domestic inflation, have cast a shadow on the economic development of the region. Thailand triggered a run on 56 banks, the baht depreciated by 60 percent, and the stock market plummeted by 70 percent. The financial turmoil caused by Thailand has spread to the northern part of Asia and even to Russia, Malaysia, Indonesia, Singapore, Japan, Hong Kong Island, and South Korea have all been hit hard, and the assets of the people of these countries and regions have shrunk greatly, and the wealth created by the Asian people over the years has depreciated one after another.
The Southeast Asian financial crisis has plunged the social order of Asian countries into chaos. As a result of bank failures, the financial sector collapsed, paralyzing the economy. The economic recession has intensified the contradictions in the country. During the financial crisis in Southeast Asia, Indonesia, Malaysia and other countries were in turmoil, and people were distracted and disordered. The financial crisis in Southeast Asia has destabilized state power. After the outbreak of the Asian financial crisis, due to social unrest, economic depression led to a decline in people's trust in the government. As a result, the government in Thailand was overthrown, the Suharto government in Indonesia was overthrown, Ryutaro Hashimoto in Japan stepped down, and Russia changed its prime minister six times in one year. Political instability has undermined the favorable environment for economic growth in Asia. Previously, the reason for the rapid economic growth of Asian countries was the stability of the political and economic environment, but later the financial crisis undermined this stability, causing social fluctuations and almost endangering the national security of various countries.
The current Asian financial crisis is another major event that has a far-reaching impact on the world economy after the great crisis of the thirties. The current financial crisis reflects the existence of serious defects in the financial systems of the world and various countries, including many relatively mature financial systems and economic operation modes that people believe to have been selected through historical development, and many problems have been exposed in this financial crisis, bringing Southeast Asia to an era of depression and sparseness, triggering turmoil in the global capital market, which has shocked the world with its widespread, fast, and deep destruction.
During the boom of the 90s of the 20th century, Asia was recognized by the world as a huge emerging market for the new millennium. These countries or regions grew rapidly in the 1960s and 1980s of the 20th century, but before that, they were only developing with agriculture and light industry as the main development of Huaxia countries or regions. They have taken advantage of the opportunity of the western developed countries to transfer labor-intensive industries to the developing Chinese countries, attracted foreign capital and technology, made use of the advantages of local labor force to adjust their economic development strategies in a timely manner, and quickly embarked on the road of developed countries or regions, thus becoming one of the economic locomotives in Northeast Asia and Southeast Asia.
However, this development model has left many drawbacks, and relying too much on international capital has become a hidden concern for the economy. At that time, Thailand, like many Asian countries, began to borrow a large number of short- and medium-term foreign loans from overseas banks and financial institutions, and its external debt was as high as US$79 billion. Beneath the surface of prosperity, Thailand has built many empty, shiny office buildings. South Korea, one of the four Asian tigers, has established an annual production capacity of 5 million cars, which is 10 times the capacity of the domestic automobile market at that time.
This hidden danger has been pointed out by people of insight a few years ago, but the vast majority of people have been intoxicated by this superficial prosperity, believing that it is nothing more than unfounded fears. The rapid development of more than ten years has also made more people forgetful. In this context, Lin Yu was able to scoop up such a bold plan with a sharp shot, which made Jason have to be impressed. …,
If the scenario predicted in the scenario turns out to be true, it is not a complete count that the profit from this investment will be much greater than the previous two sniping pounds and Mexico combined. Of course, the damage caused to the whole of Southeast Asia and even the whole of Asia is unprecedented. Just looking at this plan, Jason could even imagine the miserable scene after the storm.
The losses suffered by countries, including Thailand, are far from tens of billions of dollars, but also almost the collapse of the entire financial market and order. More than ten years of development and struggle have been in vain overnight, and all of them have been married to others.
However, Lin Yu did not feel uncomfortable and guilty at all, because he really did not have a good impression of several Southeast Asian governments such as Malaysia and Singapore. On weekdays, relying on the rapid economic development and the affluent life of the people, they are dizzy and arrogant, and they look very remarkable, and when the critical time comes, they jump out and shout at the Chinese government to add to the obstruction at the behest of the United States. At this time, it is very necessary to take the opportunity to teach them a lesson, so that the wealth they have accumulated for more than ten years will be wasted overnight.
However, for Thailand and Indonesia, according to Lin Yu's plan, it is enough to ensure that Indonesia's economy will not cause national turmoil, and Southeast Asia is more correctly just a layout of Lin Yu, and Lin Yu will rely on this Southeast Asian economic crisis to completely incorporate Southeast Asia into his sphere of influence. If Southeast Asia is scooped down, then Lin Yu's sphere of influence will include Europe, Russia and Southeast Asia, plus the influence of the Lin family in China on China, then Lin Yu will be able to influence three-fifths of the world, and Southeast Asia and China and Russia will form an encirclement of the rest of Asia, so it is only a matter of time before these places are included in Lin Yu's sphere of influence. (To be continued.) If you like this work, you are welcome to (.) to vote for recommendation, monthly pass, your support is my biggest motivation. )