The capital of Huaguo, the presidential palace.

The meeting of finance ministers of various countries has been held in Huashan for a month, and there is still no result, and the meeting is still going on, and China needs to discuss with other countries, exchange interests when necessary, threaten force when necessary, and impose economic sanctions on certain countries when necessary.

Xiao Zhenlei was walking by the lake behind the presidential palace, with several security guards following from a distance, and Chen Huizu, governor of the National Bank, and Gu Dawei, minister of finance, following on the left and right.

Xiao Zhenlei asked as he walked with his hands behind his back, "Where is the meeting?" ”

Gu Dawei introduced the progress of the meeting of finance ministers, "So far, the United States, Germany, France, Italy and most other countries have agreed that the Chinese army as an international currency to perform the settlement function and responsibility between international trade, only the United Kingdom and the Commonwealth member states do not agree that the Chinese dollar as the settlement currency of international trade, which is also the biggest obstacle to the current meeting!" ”

Xiao Zhenlei said: "You should have expected this situation a long time ago, have you thought of any way to solve this matter?" ”

Chen Huizu said: "President, I don't think we can compromise with the British now, we must force the British to compromise with us, the British still owe us a lot of money, I think we can make a fuss in this regard!" ”

Xiao Zhenlei listened to Chen Huizu's words and nodded: "This is a good way, is there any other way?" ”

"Yes, President, I think we can diplomatically isolate the UK. In terms of specific implementation, we can unite countries that have agreed that the Chinese dollar will become the currency for international trade settlements. Co-founded an International Monetary Fund at this meeting. We have also decided to establish the World Trade Organization, if the British do not agree to the Chinese dollar to become the currency of international trade settlement, we do not agree to the United Kingdom to become a member of the World Trade Organization, we must not only isolate Britain diplomatically, but also isolate Britain economically and tradely, and charge high tariffs on British goods entering the countries of world trade member countries, and set up relevant trade barriers in trade to impose sanctions on the British economy! ”

Xiao Zhenlei couldn't have imagined that Gu Dawei and others had already thought of establishing the International Monetary Fund and the World Trade Organization, which greatly surprised him. Who says foreigners are smarter than Chinese?

Gu Dawei and Chen Huizu and others all thought of and did what he did, which made Xiao Zhenlei very pleased, it seems that he doesn't have to worry too much about economic things in the future, with Gu Dawei and Chen Huizu in check, it is enough to deal with most of the situation.

He fully affirmed Gu Dawei's words, "That's good, you can come up with the establishment of the International Monetary Fund and the World Trade Organization, which can not only threaten the British." We can also use these two institutions to achieve what we want to achieve, and now they are only used to threaten the British authorities, but in the future, they will certainly play a huge role. As long as we have a firm grasp of these two organizations, we can solve a lot of things for us at any time. There could be no longer any delay in getting the British done, and the meeting was a little too long. Solve the British as soon as possible, first let Huayuan establish an international trade settlement currency. The rest can be done until we reach our primary purpose."

Chen Huizu and Gu Dawei hurriedly agreed: "We understand, President!" ”

Xiao Zhenlei asked again: "About the International Monetary Fund." What do you think, how is the organization organized, and what is its organizational structure? What does it do? ”

"President, we want to promote international monetary cooperation through a permanent institution and provide a method for consultation and collaboration on international monetary issues. Through the expansion and balanced development of international trade, the promotion and maintenance of employment, the development of productive resources and the high level of real income of the member countries are regarded as the primary objectives of economic policy; Stabilize international exchange rates, maintain orderly exchange arrangements among member countries, and avoid competitive exchange rate devaluations; Assist member countries in establishing multilateral payment systems for recurrent transactions and eliminate exchange controls that impede world trade; Under the conditions of appropriate assurances, the IMF provides member countries with general funds on an ad hoc basis to give them the confidence to use the opportunity to correct balance-of-payments imbalances without taking measures that jeopardize their national or international prosperity; In accordance with the above objectives, the duration of the imbalance in the balance of payments of member countries will be shortened, and the degree of imbalance will be reduced.

We have discussed and decided to designate the highest authority of this organization as a board of directors, which shall be composed of one president and one deputy member of each member state, and the finance minister or central bank governor of each country shall serve as the director. Each Council meets once a year in September, and each Council exercises its own voting rights (the size of each country's voting power is determined by the size of its share of the Fund); The Executive Board is responsible for the day-to-day work and exercises all the powers delegated by the Council, and consists of a number of executive directors, who are elected every two years; The Managing Director is elected by the Executive Board to be responsible for the operations of the IMF for a renewable five-year term. Its organizational structure consists of a Board of Directors, an Executive Board, a President, and permanent functions.

The main role of the organization is and can only be to establish and supervise the exchange rate policy among member States and the rules governing the payment of the current account and currency convertibility; Provide emergency financing facilities to member countries with balance of payments difficulties when necessary to prevent other countries from being affected by them; To provide a meeting place for member countries on international monetary cooperation and consultation; promoting international cooperation in the financial and monetary fields; promoting the pace of international economic integration; maintaining the international exchange rate order; assisting in the establishment of a regular multilateral payment system among member countries".

Xiao Zhenlei nodded in approval after listening to Gu Dawei's introduction: "Yes, there are still some details that need to be improved." And what about the World Trade Organization? What are you going to do? What is the organizational structure of this institution? What are its functions and roles? ”

"We have identified the WTO as the legal and organizational basis of the multilateral trading system, the administrator of many trade agreements, the supervisor of trade legislation of its members, and the venue for negotiations and dispute settlement on trade," Chen said. An international organization responsible for overseeing the implementation of trade agreements between member economies.

Its organizational structure is mainly composed of the Ministerial Conference, the General Council, the special committees, and the Council for Trade in Goods; Council for Trade in Services; The Intellectual Property Council, the Secretariat and the Director General.

The Ministerial Conference is the highest decision-making authority of the WTO, composed of ministers and vice-ministerial-level officials or their plenipotentiaries in charge of foreign trade and economic cooperation of all member countries, and generally meets once every two years to discuss and decide on all important issues related to the functions of the WTO and to take action. appointing the Director-General of the WTO and formulating the relevant rules; to determine the powers, duties, terms and term of office of the Director-General and the duties and conditions of the staff of the Secretariat; interpretation of WTO agreements and multilateral trade agreements; exempt a member from its obligations under WTO agreements and other multilateral trade agreements; Consideration of motions by its members to propose amendments to WTO agreements or multilateral trade agreements; decide whether to admit a country or region applying for WTO membership as a member of the WTO; Determine the date of entry into force of WTO agreements and multilateral trade agreements, etc.

It consists of the General Council and the Secretariat, which are responsible for the day-to-day meetings and work of the WTO. Membership of the WTO is divided into founding members and new members, and the founding members must be parties to the GATT, and new members must be approved by a two-thirds majority vote of the Council of Ministers, its policy-making body. When the Ministerial Meeting is not in session, its functions are exercised by the General Council, which is also composed of all its members. The General Council may meet at any time as the case may deem necessary and shall draw up its own rules of procedure and agenda. At the same time, the General Council must fulfil its responsibility to settle trade disputes and to review the trade policies of its members. Under the General Council, there is a Council for Trade in Goods; Council for Trade in Services; Intellectual Property Council. These councils may, as appropriate, draw up their own rules of procedure, which shall be implemented with the approval of the General Council. All members may participate in the Councils".

Xiao Zhenlei affirmed after listening to Chen Huizu's introduction: "Your ideas are very thoughtful, you can find me if you have any questions, I will support you!" ”

"Thank you, President!"

Fearing that it would be marginalized by the world, Britain had to reluctantly agree to recognize the Chinese dollar as the currency for international trade settlement and join the World Trade Organization and the International Monetary Fund.

In the last few days of the Huashan Conference, China proposed the establishment of a World Bank, stipulating that all countries participating in the World Bank must first be members of the International Monetary Fund.

The next step is to discuss the issue of loans to various countries, this time the loan is mainly in commodities as loan funds, at least more than 70% of the loan must be offset by Chinese goods, and the rest will be transferred by the Bank of China to the accounts of the Ministry of Finance of various countries.

At the meeting, Britain borrowed 500 million Chinese dollars, France 1.5 billion Chinese dollars, and Belgium, Hungary, Austria, Germany, and a number of other European countries each borrowed a considerable amount. Because countries are in a hurry to get the money, the loan cannot be made in the name of the World Bank, which has not yet been established and cannot carry out its functions.

After the meeting, various countries sent representatives to Shanghai, China, to set up the World Trade Organization, the World Bank, and the International Monetary Fund. (To be continued......)