Chinese Leng Binghan knows that these are some of the problems that have gradually emerged in the chief's reflection on economic construction.

Since the chief executive proposed emancipating the mind and carrying out and opening up, a great tide of economic construction has been set off in various parts of the country, the national economy has developed rapidly, and the people's living standards have also improved day by day. Everyone wants to make persistent efforts and speed up, but it is not necessarily a good thing to step too fast.

Don't look at the chief is not an economist, but for many things, he has a keen and far-sighted vision that others cannot match, and he can quickly see the clues from some subtleties and associate them with the development and construction of the country. People have to be impressed that extraordinary people must have extraordinary features.

Soon, the chief looked at Leng Binghan with great interest and asked: "Xiaohan, some experts believe that the financial crisis in country T will affect Southeast Asia and even the whole of Asia, what do you think about this?" ”

At this time, the chief did not seem to be talking to Leng Bing, who was not yet 20 years old, but as if he was asking experts from the Economic Research Office of the State Council.

It is no wonder that, 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 in Western countries, especially because they have been closed to the country for many years and lack practical experience. This is difficult to make up for in the short term. And since Leng Binghan can create such a situation as Feiyuan with yellow hair and drooping hair, Feiyuan started with financial investment, and the achievements are remarkable and attract worldwide attention. Presumably, his extremely high talent and ability in this area are beyond the reach of others. For a long time, the chief did not treat Leng Binghan as an ordinary person, and it was natural to consult him about this matter.

"Currency wars have never been more merciful than sword wars. The difference is just that killing people without seeing blood and killing people without seeing blood, and the results are exactly the same. Leng Binghan smiled indifferently and said: "I think, don't look at the rapid economic development in Asia over the years, but Singapore, Malaysia, Thailand, Japan, South Korea and other countries are all export-oriented economic countries. They are very dependent on the world market, and it is inevitable that the Asian economy will be shaken and affected by the whole body. Therefore, under the influence of the fluctuation of the Thai baht, the crisis will soon spread to all countries and regions in Southeast Asia that have freely convertible currencies. ”

In the memory of his previous life, the tormented country T finally announced on July 2, 97 that it would abandon the fixed exchange rate system and implement a floating exchange rate system, triggering a financial turmoil throughout Southeast Asia. On the same day, the exchange rate of the Thai baht against the US dollar fell by 17%, and foreign exchange and other financial markets were in chaos. Under the influence of the fluctuation of the Thai baht, F Lubing Peso, Y Dunician Guilder, and M Lesia Ringgit have become the targets of international speculators. In August, M Lesiah abandoned his efforts to defend the ringgit. The ever-strong X-plus Po Yuan has also been hit. Although it was the last country to be "infected", it was the hardest hit.

In late October, international speculators moved to Hong Kong, an international financial center, and the Gulf authorities suddenly abandoned the exchange rate of the new Taiwan dollar, depreciating by 3.46% in one day, increasing the pressure on the Hong Kong dollar and the Hong Kong stock market. On October 23, Hong Kong's Hang Seng Index 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 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 broke out in South Korea, East Asia, and on the 17th, the exchange rate of the won against the US dollar fell to a record 1008:1. On the 21st, the government of country H had to ask the International Monetary Fund for help, and the crisis was temporarily controlled. 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 invested heavily in country H. In the second half of 1997, a series of banks and securities companies in R Ben went bankrupt.

As a result, the financial turmoil in Southeast Asia turned into the Asian financial crisis, the collapse of the monetary systems and stock markets of Southeast Asian countries, and the huge pressure of a large amount of foreign capital and domestic inflation, triggered a run on the country, squeezed 56 banks, depreciated the Thai baht by 60%, and the stock market plummeted by 70%. The financial turmoil caused by country T has spread to the north of Asia and even to Ross, and the countries of M, Y, T, B, Hong Kong, and H 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 people of Asia over the years has depreciated, and European and American countries have taken advantage of the depreciation of Asian currencies and the sharp collapse of the stock market to merge Asian enterprises one after another, buy real estate, and easily acquire several hundred percent of their property at a price of 1 percent.

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, countries such as Y and Lai West Asia were in social turmoil, and the people's morale was scattered and the order was chaotic. 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. The opposition parties and opposition parties blamed the ruling party one after another, and as a result, the government of country T was overthrown, the government of Suharto in Y Denicia was overthrown, Prime Minister Hashimoto stepped down, and Ross changed prime ministers 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 stable 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 sparseness and sparseness, triggering turmoil in the global capital market, which has shocked the world with its widespreadness, speed and depth of destruction.

"You're right, but ......" The chief's thick eyebrows furrowed slightly, and his face was a little solemn, "But if it is just the beginning as you said, the storm will become bigger and bigger, and the scope of the danger will become wider and wider, and sooner or later it will affect us." ”

Leng Binghan smiled and said: "At present, China has not yet joined the WTO, and the economy has not really been in line with the world economy. Therefore, this financial turmoil will not have a great impact on us. At most, the export industry will be affected somewhat, and the export volume will decrease. However, the good news is that Southeast Asian countries are not the main markets for us to earn foreign exchange through exports, so the impact is limited......"

"What about Hong Kong?" The chief asked with some concern.

Leng Binghan smiled, he knew that this was the point that the chief wanted to say to himself.

Presumably, what I just said has long been in the analysis of those financial experts. As Hong Kong's return to the motherland is imminent, if the country had just exercised its sovereignty and been hit by a financial turmoil, it would undoubtedly be a disaster for the already fragile people.

"Grandpa, please rest assured, no matter how big the scope of this storm is, no matter how strong it is, and how long it lasts, the impact on Hong Kong will not be too great."

"You mean that international funds and foreign funds will not make a move on Hong Kong?" The chief stared at Leng Binghan and asked, his words seeming to be a little incredulous. Since these funds dare to target country T and Southeast Asian countries, there is no reason to let Hong Kong alone, right? What's more, even if those international speculators do not move, it is absolutely difficult for the leaders to believe that Western countries will not take advantage of the fire to loot and promote behind the scenes, so as to damage China's image in the international community.

"Of course not." Leng Binghan replied: "These arbitrage funds are all mercenary, and Hong Kong is also a piece of fat in their eyes, of course they will not come and take a bite." ”

"The mainland of the motherland is the strong backing of Hong Kong, so aren't they afraid of the determination of our Chinese government to save the city?" There was a faint glint in the chief's eyes, and he said loudly: "The possibility of market trends, affected by technology, after all, is far less than being affected by basic strength. Hong Kong's own foreign exchange reserves are very large, and coupled with our country's foreign exchange reserves, international funds and floating funds, it may not be able to prevail. ”

Hong Kong has just returned to the motherland, and maintaining the stability of the financial market is not only an economic necessity, but also a political necessity. It is inevitable that international funds will take action against Hong Kong, and the central government will take a tough response.

However, the chief's demeanor was not relaxed.

Despite the strong cooperation between the central government and the Hong Kong SAR government, no one can make an accurate estimate of the extent of the huge international travel investment until the last step.

"How much is the country's foreign exchange reserves? At best, it's just over 100 billion dollars, right? Leng Binghan smiled and said, "Grandpa doesn't know how much international travel money there is, right?" ”

The chief raised his eyebrows, although he didn't speak, but he motioned for Leng Binghan to continue.

"7 trillion!" The cold voice suddenly became invigorated, and the tone was urgent, and he said: "There are currently about 7 trillion dollars of liquid international capital in the world. Once international speculators find out which country or region is profitable, they will immediately impact the currency of that country or region through speculation in order to make huge profits in the short term. These arbitrage funds have a very accurate grasp of the trend of the market, and together with the war, the funds that follow the trend will be like a tide, and if some countries with ill intentions take advantage of this to add fuel to the fire, no one can estimate the development of the situation...... "cat pounces Chinese