Lu Zhengdong did not expect to enjoy such courtesy, which shows that what he said has aroused the great attention of the vice premier.

The meal came up quickly, thinking that the entourage of the vice premier had already prepared it with both hands, the meal was very simple, and the meal in front of the vice premier was no different from that of him and Director Lin, the only difference was that there was an extra plate of green vegetables that Lu Zhengdong couldn't name.

"You go on......"

Lu Zhengdong thought for a moment and said:

"Although Soros and others will take a two-pronged approach, and in their view, the fixed exchange rate of the Hong Kong dollar is basically a political exchange rate, and they judge that the Hong Kong government will defend it to the death, and the Hong Kong government is still one of the few regions in the world that has no foreign debt, which is different from other Southeast Asian countries. This is different from other Southeast Asian countries. In addition, the Hong Kong government's foreign exchange reserves, together with the foreign exchange reserves of the land fund managed by the Hong Kong Monetary Authority, have a total value of more than 80 billion yuan, ranking fifth in the world. What's more, the Hong Kong government has the central government behind it, and our foreign exchange reserves are as high as more than $120 billion, ranking second in the world. Soon ran out of ammunition and food, and was forced into a corner by Soros, and had to be forced to implement a floating exchange rate. Therefore, it is very difficult to attack the exchange rate of the Hong Kong dollar. Therefore, the main purpose of their attack on the exchange rate is to cause turmoil in the financial market, create chaos, and disturb people's minds, but according to the current operating price of Hong Kong's stock market, the focus should be on short-selling the stock market, hoping to make some gains in speculating in the futures index......"

Short selling is due to the amazing creativity of the Yankees, and the so-called short selling is selling what you don't have on hand. A can borrow 100,000 shares from B and sell them at today's market price of $10 per share, and then buy 100,000 shares from the market and return them to B after a certain period of time. If the Hong Kong stock market is depressed or crashes at that time, you can buy 100,000 shares from the market at a price of two yuan per share and return them to B, making a net profit of 800,000 Hong Kong dollars in the middle.

The development of financial derivatives makes them not need to bother to buy and sell stocks one by one, and directly buy and sell the entire market, which is the Hang Seng Index. The Hang Seng Index was sold at the current market price, and then bought back at the current market price and returned to the people.

"So what do you think should be done?"

"Heavy hand from where Soros and the speculators were unexpected and most feared. Their methods are not invulnerable, either. If they want to make money, they must ensure that the stock market leaks at the specified time and at the specified point! The key is to be able to find traces of the other party's short selling in the foreign exchange market and stock market, which must be concentrated in a number of short selling contracts that have expired in a concentrated manner, as long as they can be found, this can roughly determine the time of their attack and strictly guard against it. The suddenness of the event is greatly reduced. Second, Soros can sneak into the foreign exchange market, and the Hong Kong government can also use its own way to govern others and quietly enter the two cities. The financial elites of the Hong Kong government must be familiar with the specific operation of treating others in the same way, and as long as they do not go wild at the time and point specified in their design, they will lose a lot......"

"That's just one aspect. What Soros and international speculators are most afraid of is not this, but the power of the Hong Kong government, which can take a free hand and tighten the monetary policy to force the banks to hand over their excess positions to the HKMA, creating a situation where the walls are cleared, and in addition, the same day settlement and settlement system between banks in Hong Kong, so that the Hong Kong government can know which bank sells or lends a large amount of Hong Kong dollars on the same day. The Hong Kong Monetary Authority has issued a warning to banks that do not listen to their calls and still lend money to funds for foreign exchange speculation. and even punished him severely. We can raise interest rates very high for banks that have to lend Hong Kong dollars to Soros and international speculators, and make them taste the pain of cutting their flesh. Such an early warning system and punishment method are exactly what other central banks did not have before. This makes it difficult for Soros and international speculators to obtain large amounts of short-term loans in Hong Kong dollars. Even if it can be obtained, it can only be prohibitive under the extremely high cost of speculation. ”

This requires the Hong Kong government to obtain absolute authority from the legislature and the support of the general public, and if the legislature questions or demands transparency on the measures taken by the Hong Kong government, it will make the action ineffective. It's the same as fighting a war. Fighters are fleeting, procrastinating and transparent. It will cause the counterattack plan to leak and lose its surprise nature, and the operation will be in vain. On the contrary, it will open the door for the Hong Kong government to directly intervene in the market. The Hong Kong Government's actions were completely unconstrained, and naturally its measures were swift, resolute, and forceful.

Third, it is not a round that can solve the problem, it should be a back-and-forth battle that lasts for a period of time, this is not only a fierce contest of intelligence, but also a contest of will and spirit of the people, and it is also very important to convey positive energy and establish an undefeated message...... In this way, while blocking the stock market and foreign exchange market at multiple levels, while cutting off its back road, such a multi-pronged ......"

Lin Junsheng, who had been listening quietly on the side, also had to admit that Lu Zhengdong's ideas had quite unique views on dealing with the financial crisis, and if it really worked, it would be difficult for Soros and international speculators to get out of the way, no wonder the vice premier was so interested and used such an opportunity to let Lu Zhengdong report.

Lin Junsheng is very familiar with the mentality of the vice premier.

People call the vice premier the economic Caesar, he likes to work with an iron fist, and in his heart he must advocate a hard-line policy of market intervention, and Lu Zhengdong's views coincide with the facts.

However, the vice premier must also weigh the pros and cons, after all, one country, two systems, some things, the central government can not go beyond the cook, sure enough, the vice premier was silent for a while, and then said:

"So the capital invested is an astronomical amount, huh?"

"Yes, it is necessary to enter the market with huge amounts of money, and it is impossible to hold only one at all, because the Hong Kong government has always pursued a zero-intervention conservative economic policy, and this must be unexpected by Soros and others, and a sudden punch can achieve miraculous results......"

When Lu Zhengdong was talking, he felt Director Lin gently touch him with a push, and Lu Zhengdong understood that he was probably overtalking what he said.

I never thought that Director Lin's small action would be seen by the vice premier, and Director Lin saw that his small action was discovered, so he didn't think it was angry, and smiled and said

"Xiao Lu is young, I'm afraid that Xiao Lu will affect your judgment."

Lu Zhengdong also knew that his words were indeed a bit excessive.

Out of political considerations, the central government will certainly defend Hong Kong's prosperity and stability at any cost, and the central government will do so, and will give the Hong Kong government the greatest support in spirit and practical actions. There is no doubt about this, but the huge amount of money is not just a number, but the foreign exchange reserves accumulated by the Hong Kong government and the country over the years. The stock and currency markets are like a meat grinder that can swallow a qiē. These huge sums of money can only last two or three weeks in the market, and there is no need to talk about the severity of the consequences, although there is no objection from the top to the top on the point of defending Hong Kong's prosperity and stability. However, as a member of the Standing Committee in charge of the economy, the vice premier must be very cautious about how to defend and how to do it......

The deputy prime minister glanced at the two and said:

"You're a handsome student, I have my own opinions about some things. I don't know what's going on in your mind yet? You are just afraid that Xiao Lu will lose if you talk too much, you think too much, how to make up your mind, you have to consider it in many ways, and in the end, you have to go through the discussion of the political bureau...... Xiao Lu, you speak freely, today the speaker is not guilty, even if it is wrong, it doesn't matter, if you say it wrong, I will go in my left ear and out of my right ear......"

Lu Zhengdong thought for a moment. Again, according to the most secure aspect:

"Of course, no matter what method is taken, there will definitely be side effects, such as maintaining high interest rates for a long time and causing a sharp increase in corporate costs, which will lead to an economic depression. Another point is that the Hong Kong government's intervention in the market violates the Hong Kong government's policy of zero intervention. The negative effects of this have to be carefully considered......"

Lu Zhengdong knows that his ideas are only used as a reference, and he must clearly explain the pros and cons, so that it is more conducive for policymakers to make the most policy judgments.

The Deputy Prime Minister paused and said:

"From '95 to this year, Hong Kong's real estate market has appreciated by more than 70 percent. The Hang Seng Index has more than doubled, and now it seems that there is quite a bit of a bubble in it. In such an environment, it is not surprising that the bubble is squeezed out and the economic downturn is in recession, as long as it does not collapse, it is the best outcome.

However, the last point, this is indeed a big problem, it is precisely because Hong Kong insists on pursuing a free economy that it has won the title of one of the world's freest economies, and has achieved remarkable results, and many economists, out of confidence in the logic of the market and Hong Kong's fundamentals, hope to handle this crisis with a prudent principle. There is a strong voice of opposition, fearing that this will destroy the foundation on which Hong Kong is based. ”

Lu Zhengdong nodded, Hong Kong has always pursued a liberal economic policy as the foundation of Hong Kong, and liberal economics has always believed that the government is the greatest threat to individual freedom in the knowable history of mankind. The basic proposition is deregulation; also freedom of the market; The lower the tax, the better, and the smaller the government, the better. In modern times, the spiritual leader is the Nobel laureate economist F.A. Hayek, and the political representatives are Margaret Thatcher of the United Kingdom and Ronald Reagan of the United States.

On the map of the world economy, Hong Kong in the fifties and sixties was still a little-known island, because of its economic policymakers' firm support for liberal economic policies and the concept of economic liberalism, Hong Kong became a guinea pig of liberal economy, a real field of free economy, and finally Hong Kong achieved unprecedented success. This former island has become the brightest pearl of Asia, a guinea pig has grown into a dragon, and a beacon of liberal economics has been built on a blank field. If this were a European or American city, it would have become a mecca for liberal economicism. If you intervene directly, which involves the principles of a free market economy, the side effects are worth considering, so even if you want to make up your mind to intervene, this has become the biggest problem in the heart of the Hong Kong government, and it is also a dilemma for the central government.

Lu Zhengdong thought for a while, and said tentatively:

"The key is to find traces of their short selling activities in the foreign exchange market and stock market, and finding this is equivalent to finding the cover door of Soros and others."

Lu Zhengdong can't remember the specific time when Soros attacked Hong Kong, but he remembers that it was late October, and now it is very close to this time, and Lu Zhengdong has reminded him at the last symposium, but he doesn't know how the Hong Kong government is progressing, so he asked.

The deputy prime minister shook his head slightly and said:

"The Hong Kong government also wants to find out about these, but the complex trading volume of financial derivatives is vast, and the other party must be careful to hide, and when the other party attacks, the initiative is in the hands of the other party, which makes it difficult to determine a specific time period, to find traces of their activities is tantamount to looking for a needle in a haystack, how easy it is to say. So far, there are no clues......""

The deputy prime minister bowed slightly, groaned for a while, and said:

"Well, well, that's all for now. The content of the conversation is to be kept strictly confidential. No one else can know about ......"

The vice premier turned his head and asked about the power reform, which was often very crucial, and Lu Zhengdong already knew that the vice premier should be very interested in his plan. This made Lu Zhengdong more pleased than the vice premier's question about the financial crisis, because this is his own job, and he has also done a lot of research on it, so he still maintains a high standard in this regard, and answers the vice premier's questions very well.

Rong Zhenghai nodded:

"Your System Reform Commission will follow this idea to make a detailed and rigorous plan......"

said to Lin Junsheng:

"Junsheng, you will arrange additional personnel to prepare for the preliminary work of this plan. Xiao Lu don't arrange work for the time being, I want Xiao Lu to go on a business trip recently......"

When Lin Junsheng heard this, he couldn't help but be secretly happy in his heart, which further confirmed that the vice premier was still inclined to the plan of the Commission for the Reform of the System, and said busily:

"Our System Reform Commission must prepare carefully according to the instructions, but Xiao Lu is the main designer of this plan, can you catch the strong man at this time......

Rong Zhenghai waved his hand:

"This plan was handed over to me by the Commission for the Reform of the System at the end of November, and there is still plenty of time, and the preliminary preparations are mainly for soliciting opinions and preparing materials. Xiao Lu's absence will not have a big impact, and besides, Xiao Lu's business trip will not be too long, it's completely in time, Xiao Lu, there's no problem, right? ……”

Lu Zhengdong groaned in his heart. It is estimated that the place where he traveled this time should be related to the financial crisis, and the destination is likely to be Hong Kong, he glanced at Director Lin and said:

"I obey the organization......"

Rong Zhenghai nodded:

"Well, you can also explain the work at hand in the next few days. Always ready to travel......"

Rong Zhenghai stood up and shook hands with Lin Junsheng and Lu Zhengdong. An eviction order was issued.

Rong Zhenghai is very satisfied with the appearance of the young man in front of him, this young man has even far exceeded his expectations, not only in terms of talent, but also in terms of humility and calm attitude, and more pragmatic style of doing things.

He has always been a strict and rigorous person in his work, and he is clear about economic matters, and few people can fool around in this regard, Lu Zhengdong's numbers and opinions are quite accurate, this is not something that can be done casually, but after a lot of long-term investigation and research, and thinking, it can be done.

This especially makes him appreciate, pragmatic work, easy to say, but it is really difficult to do, impetuous mentality is full of leaders including many levels, especially young people, who are more likely to get involved in such problems......

――――――――――――――

Lu Zhengdong came out of the meeting hall for the first time, looked at the time, it was already more than seven o'clock, habitually took out the mobile phone that was set to silent, and saw that there were many calls from Xue Yu, and hurriedly went back.

"Zhengdong, is the matter over? Come here, we'll be waiting for you in Huaxi. ”

"Who else are you?"

"You'll find out when you come here......"

Lu Zhengdong hung up the phone and shook his head, it must have been Zhao Yimang's guy who sued Xue Yu, Zhao Yimang worked in the Economic Research Society and also participated in the seminar.

Lu Zhengdong then drove there, and when he went to the place, Zhao Yimang was really here, in addition to Zeng Xuanlin, Hu Changlin, and Pu Zhongqin, all of whom were familiar and close to each other, it should be Zhao Yimang shouting to celebrate, and Xue Yu also wanted him to further deepen his relationship with these people.

Today should be worth celebrating, but it is not only the table at the meeting that should be celebrated, but also the table at the vice premier, but this cannot be said......

Xue Yu is not very familiar with the people here, she is seven or eight to ten years younger than the general people here, but when Lu Zhengdong was not in the capital, under the arrangement of Lu Zhengdong's aunt, she and these people have begun to come into contact, and she also knows the intention of the aunt, that is, to maintain the relationship between these friends in the capital for Lu Zhengdong, although when she first came into contact, she felt a little estranged, but now it is very natural.

Zhao Yimang and the others are very friendly to Xue Yu, they know that Xue Yu's identity has been officially confirmed, although there is a gap in age, but they are all Jing characters, and their backgrounds are similar, but they don't let Xue Yu be restrained.

Lu Zhengdong smiled at Xue Yu before sitting down, and as soon as he sat down, Zhao Yimang said with a smile.

"Zhengdong, I was just talking about your peerless demeanor at today's seminar, and Comrade Huaide was a big suffocation today."

Lu Zhengdong also wanted to know more about Zeng Huaide's situation in the capital, so he shook his head while taking the wine cup and said:

"Hehe, where is this, academic exchanges, just discussions, what is deflated or not. Besides, people should soon reach a higher level, and the table is obvious to all......"

"Come on, Zhengdong, I just don't like him, don't you know, that guy has been in the capital for the past two years, oops, how to say it, that one is high-spirited, all some meetings related to the economy, there are very few meetings related to the economy, she is rarely absent, so that we who are simply engaged in economic research can't live......"

Lu Zhengdong knew that Zhao Yimang was not clear about the grievances and grievances between him and Zeng Huaide, but the Zeng family and the Yun family had never dealt with each other very much, and the people at the table were all inextricably linked to the Yun family.

It seems that Zeng Huaide is also in the limelight in the capital, and some people have long wanted to see him deflated, and Mu Xiu will be destroyed by the forest wind, which also reminds himself that the low-key place should be low-key, and the so-called edge shines at the important point......

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