Chapter 717: Currency Wars

In addition to launching a counterattack against the U.S. media's smear reports, SAL also hired a very experienced professional team to clarify the antitrust investigation and security investigation initiated by the U.S. side, and asked Zhao Jianwu, who was in charge of technology, to lead a team to clarify with the relevant U.S. investigative agencies, deny the relevant allegations, and insist that the built-in intelligent voice search service and instant messaging service are part of the product, and SAL has not prevented other similar product components from being installed and used on SAL products. Users have every right to choose to use their favorite products, and the SAL product platform is a very open platform that welcomes any competitive product.)

Although these two products of SAL actually occupy more than 95% of the market share in these two aspects on its own platform, this is also because the functions of these two products developed by SAL are indeed far beyond similar products, not only on the SAL platform, but also on other mobile phone platforms and PC platforms, SAL These two products also occupy most of the market space, and SAL's search service and instant messaging service are already the first in the world.

After all, in the era of intelligent voice, SAL's technology is unique in the world, and in the meantime, it has been tested by Kerry in terms of quality, which is completely incomparable to any other company, and it is beyond reproach to occupy the first place in the global market share with such an advantage. Because this itself is the competitive advantage created by SAL's innovation, it was not the same with competitors such as Google and Microsoft back then, but under the secret promotion of Snyder, now these companies are starting to jump out and talk about this, which is indeed a bit unacceptable.

Soon, the domestic media began to reveal that this was an abnormal measure taken by SAL's American competitors and the American organization, the purpose of which was to prevent the sale of SAL products in the United States through non-market means, which was a typical means of trade protection.

After comparing the differences in performance and quality between SAL products and competing products in detail, some media pointed out that SAL's products occupy an undoubted advantage in terms of standby time, screen display accuracy, response speed, cāo convenience and other key indicators, and it is precisely because of this that SAL has achieved an advantage in the market and gained a majority of the market share of high-end products, so the motive behind this anti-monopoly investigation initiated by competitors is really suspicious.

Immediately after these questioning voices began to spread from home to abroad, SAL now has a lot of resources in its hands, and at the same time, the old Li family also secretly helped in this alternative war, through the exposure of these media, so that these actions of the United States in the mouth of the domestic media, forming a one-sided support for public opinion, everyone began to criticize these actions of the United States, and radical young people have called on the authorities to take the same retaliation against American companies, after winning the Diaoyutai War, The national sentiment in the country has risen to an alarming level, and young people who are already a little arrogant and proud do not take the US military seriously anymore, and in their minds, the PLA is now an invincible existence in the world, so it is extremely difficult to tolerate this tendency to discriminate.

Under these circumstances, the Ministry of Commerce and Trade began to emerge to express serious concern about the US investigation of SAL, and urged the US side to ensure that there is no discrimination and create a fair and competitive market environment for Chinese enterprises, so as not to affect the normal economic and trade exchanges between the two countries.

Therefore, the US side did not pay attention to the official voice of the Chinese side, after all, they did not do such things less before, thinking that these were just a habitual talk of the Chinese government, and there was no need to take it seriously. Under Snyder's vigorous promotion, the antitrust investigation and security investigation in the United States began to escalate, and the investigation committee asked SAL executives to appear at the investigation hearing of the United States, and requested that the source code of the mobile phone cāo system be disclosed to the hearing, so as to show that its mobile phone products did not attempt to steal the communication information of mobile phone users.

SAL categorically refused this unreasonable request from the United States, saying that the source code of the mobile phone cāo system is the highest trade secret of SAL and the core component of SAL's competitive advantage, and SAL will not accept the unreasonable request of the United States.

The extremely tough decision made by the US side, which completely ignored the official statement of the Chinese side, forced SAL to temporarily suspend sales in the US market, and SAL began to suffer huge losses, and the situation is gradually escalating.

The Chinese side immediately issued a strong reaction from the commercial and diplomatic sides, and told the US side to immediately cancel such measures that discriminate against Chinese companies, otherwise the Chinese side will take effective measures to counteract and ensure the interests of Chinese companies.

The U.S. Department of Commerce and Trade, Chief Trade Representative, Secretary of State and other key figures in the economic and trade field expressed their dissatisfaction with China's lawsuit, saying that this is a legitimate action taken by the U.S. to ensure fair competition and national security for enterprises, and that China's accusations are unreasonable.

In response to this insincere response of the US side, domestic public opinion completely tilted towards supporting SAL, and loudly called for zhèng fǔ to come forward to uphold justice for SAL, while the US media were very dissatisfied with the one-sided public opinion of the Chinese media, believing that the Chinese media had lost the principle of objectivity and fairness, and a war of words began to break out between the media of the two countries, which made the smell of gunpowder in public opinion even stronger.

If these are just a foreshadowing, when SAL sued Time Magazine, after SAL categorically refused to allow Duke to testify in court in person, the jurors found that the evidence provided by SAL was insufficient on the grounds that Dr. Duke failed to testify under oath that he had not done those things, and very unexpectedly ruled that SAL lost the first instance! This judgment, which even Alain's counsel was very surprised by, immediately worsened the already tense public opinion situation between China and the United States.

Under the strong impetus of domestic public opinion, Vice Premier Wu, who is ripe for the moment, solemnly stated on behalf of the Chinese side that in view of the serious discriminatory treatment that the United States has consistently adopted against Chinese companies, which fully demonstrates the economic hegemony of the United States and seriously undermines the environment of fair competition between Chinese and American enterprises, China will reconsider its own creditor's rights in the United States in promoting the construction of a reasonable international market environment and ensuring national interests.

As soon as this remark came out, it immediately provoked a huge shock in the US financial market, seriously shook the confidence of market participants in the status of the US dollar, and caught the relevant US economic, trade, and financial departments off guard.

While they were in a mess while discussing countermeasures at home and urgently coordinating with the Chinese side, the Chinese side then threw out a series of foreign economic and trade cooperation agreements:

China has signed agreements with 15 countries in Africa, including South Africa, Egypt, Ethiopia, Sudan and Nigeria, South Korea, Iran, Pakistan, Bangladesh, Myanmar and Central Asian countries in Asia, and Venezuela, Brazil, Argentina and Peru in South America.

In these new settlement trade agreements, the Chinese side agreed to use U.S. bonds as a guarantee, and if the above-mentioned countries need to convert their RMB surpluses into U.S. dollars during the first five years of the transition period for the implementation of RMB settlement, China will pay in equal amounts with U.S. bonds, so as to eliminate the worries of these countries. It adds new impetus to the economic development of both sides, so it is also very popular in these countries.

In particular, African countries are committed to investing heavily in helping them develop their domestic resources and purchase these resources at reasonable prices, so as to vigorously promote local economic development. Compared with European and American countries in Africa, which only seek plunder and are unwilling to pay for local development, China's credibility is obviously much better.

This series of economic and trade agreements has completely blinded the Americans, who have always been arrogant. They did not expect that China would take advantage of the SAL incident to suddenly accelerate the internationalization of the RMB, although China has made a lot of attempts before, for example, these countries that have officially signed RMB settlement have actually signed similar agreements before, but the actual amount implemented under the pressure of the US side is not too large, and it is far from a full RMB settlement.

However, this time, China has used US bonds to recover the renminbi as a guarantee, and after dispelling the concerns of these countries, a series of economic and trade exchanges with these countries will now be directly connected with each other's currencies using the renminbi, and the annual transaction volume will exceed 2 trillion US dollars, accounting for one-third of China's foreign trade.

At the same time, China has begun to negotiate with the European Union, Southeast Asia and the Commonwealth of Independent States (CIS) countries on the full use of RMB in bilateral trade.

If China is allowed to achieve this goal, there will only be a few of China's major economic and trade partners, such as South Korea, the United States, Mexico, and Canada. It means that most of China's foreign trade has been freed from the constraints of the US dollar.

On the one hand, they sent people to the EU to lobby them to refuse to use RMB for settlement and stop negotiations with China, and on the other hand, they used various means to coerce other countries that have signed agreements with China to demand that they stop implementation.

For the EU, which is still at the end of the debt crisis and maintains a fragile financial balance, China's commitment is naturally a relief in the snow, and will play a great role in stabilizing the EU's internal financial market.

Therefore, the EU side has not forgotten that the Americans have been standing idly by when the EU debt crisis was at its most dangerous. Although there is no ideological difference between Europe and the United States, the two sides have always been very competitive in terms of economic interests.

Therefore, on the basis of interests, although the progress of the Sino-EU negotiations has been interfered with by the United States, the impact is not too great, and a new draft agreement between China and the EU will soon be called, and as for Southeast Asia and the CIS countries due to their strong dependence on the Chinese market, the progress of the negotiations is faster, so the currency war led by Vice Premier Wu has been initially successful.