"You don't go out to have a look, the competition in the telecommunications industry in Hong Kong is too fierce now, and there are seven or eight in Central alone." Lin Zeju stood in front of the floor-to-ceiling window, pointing outside and complaining.

"The fierce competition shows that the market has this demand, have you considered paying monthly?" Chen Weidong was amused by his appearance.

"This is not good, if you pay a month, it will not only affect profits, but also too many people surf the Internet, and I am afraid that the bandwidth during peak hours is not enough." Lin Zeju continued to explain.

He had worked as a manager in a telecommunications company under the group for two years, and he still had some understanding of this aspect.

It's not that they don't know the benefits of open monthly subscriptions, it's that the backbone infrastructure can't keep up.

"How big is the whole Xiangjiang, I personally contributed 1 billion to help Xiangjiang's network speed up!" Chen Weidong said conclusively.

"Then listen to you." After some consideration, Lin Zeju finally agreed to this plan.

In his opinion, if the network can be paid monthly, users will have more time to spend on the network, and then the infinity companies that have instant messaging software will benefit the most......

In the 90s, it was definitely a luxury to be able to surf the Internet without worrying about Internet fees.

Because of this, when the telecommunications company of the Yellow River Group launched the network monthly package, countless talents began to truly feel the charm of the Internet, and since then they have been deeply immersed in it and cannot extricate themselves.

And the appearance of Chen Weidong only advanced this process.

1997, early May.

The economic overheating brought about by the real estate boom has directly pushed up the soaring Hang Seng Index.

Soon it broke through the 15,000-point mark, so the stock market was extremely hot, and the buying and selling were crazy, and before you knew it, you had entered the era of the so-called "shark fin rice......

Antler Building, nine floors.

Infinity Private Equity Meeting Room.

"Mr. Chen, the market is enthusiastic, and many experts from the outside world say that there will be 20,000 points in this market." The manager of the personnel department said with some excitement.

Recently, the market has been very good, and he has bought some stocks himself, making a lot of profits.

"Hehe, Lao Zhang, the market is overheated, but I feel that there will be a pullback soon." Feng Yiwen was obviously not a half-person like Lao Zhang, and he quickly smelled the smell of danger.

"I also think that it should rise to at least 20,000 points and then pull back, the latest economic data shows that the economic growth of Xiangjiang this year is very rapid, or we can be optimistic." said one of the analysts.

"There is not much correlation between the real economy data and the stock market...... I think ....."

"No, it should be ....."

......

The conference room had its own opinions, everyone had different opinions, and it was noisy and noisy, like a vegetable market.

Chen Weidong sat in his position silent, not knowing what he was thinking.

Gradually, when everyone stopped talking and looked at the position together, Chen Weidong finally spoke: "Withdraw all the unnecessary funds, and don't buy Hong Kong stocks in the near future." ”

"It's... Mr. Chen, we have a few stocks, and we have just deployed the funds into it, and now we are withdrawing like this, wouldn't it be in vain? The head of the Fixed Income Department said cautiously.

Their department is mainly responsible for some less risky varieties, which are very dependent on the general trend of the market, and now that the stock market is climbing, it would be a pity to withdraw like this.

"The stock market is not far from a crash now, and it won't be more than two months at most."

"Never eat the last bite of your meal, or you'll be left to pay for it if you're not careful." Chen Weidong admonished with some seriousness.

Hearing these words, the hearts of everyone present sank.

No one dared to refute it, and no one dared to ask why it collapsed and on what basis.

Because since the beginning of this year, Chen Weidong's countless predictions have been successful, with an accuracy rate of up to 100%!

He said that if the stock market is going to crash, then something bad must happen.

Seeing that there was no objection from the crowd.

Chen Weidong said: "The next thing we have to do is to exchange all the money for baht.......

......

Meanwhile.

Wall Street, New York.

Inside Soros's office.

"George, can you do it now?" Rodri Jones, chief trader at Quantum Fund, asked.

"How much baht do we have on hand now?" Soros asked rhetorically as he lay back in his chair.

"It's about 140 billion, plus the Tiger Fund and other institutions, it should be close to 300 billion." Jones thought for a moment and replied.

"Very well, tell them to start squeezing the bubble for Thailand."

Soros called the shots, and the quantum fund, which had accumulated chips for months, finally launched a fatal attack on the Thai baht again.......

Mid-May, 1997.

Thailand.

A number of foreign financial institutions have released reports saying that Thailand's current asset price bubble has become very obvious.

Many real estate developers struggle to even pay interest, but banks are able to help developers find more dollars to borrow......

In 1993~1996, the price of real estate in Thailand rose by nearly 400%, and the SET index also peaked at 1410.33 in January 1996, reaching a record high......

According to statistics, in June 1996, the non-performing assets of Thai commercial banks reached 1.78 trillion baht, and the non-performing assets ratio was as high as 35.8 percent.......

Since the Thai baht was pegged to the US dollar, the appreciation of the US dollar caused the Thai baht exchange rate to continue to rise, resulting in a setback in Thai exports and a slowdown in economic growth, with Thailand's GDP growth rate of only 5.65% in 1996......

The Thai baht could depreciate by 40 per cent.......

The Thai baht may be decoupled from the US dollar.......

Countless news that is difficult to distinguish between true and false suddenly appeared in the market, catching the Thai people off guard.

Immediately afterwards, Thailand's stock market, property market, and foreign exchange market began to shake......

Meanwhile.

The Quantum Fund began to sell the Thai baht for the US dollar, and the spot exchange rate of the Thai baht repeatedly broke through the exchange rate floating limit set by the Bank of Thailand, causing strong panic in the market.

The Thai baht depreciated against the dollar from one point to 27:1.

In order to prevent international hot money from continuing to obtain Thai baht, and also in response to the civil run, Thailand ordered financial institutions to suspend business and rest.

But what they didn't expect was that this order unexpectedly deepened the people's distrust of the banking system, leading to the rapid spread of panic across the board!

Countless banks were crowded with people, all of whom felt that the Thai baht was about to collapse, and it was safer to exchange it for dollars.

An even more severe run occurred, which triggered a sharp plunge in the stock market.

In the face of menacing and prepared international speculators, Thailand finally couldn't sit still.

A three-pronged strategy was immediately adopted.

In order to maintain a fixed exchange rate of 25:1 between the Thai Baht and the US dollar, a large amount of foreign exchange reserves were spent to buy a large amount of Thai Baht sold in the foreign exchange market.

Member States through the "Meeting of Governors of the Central Bank of East Asia" jointly intervened in the foreign exchange market with Singapore, investing US$12 billion to maintain the exchange rate.

Ordered domestic financial institutions to prohibit the lending of Thai baht to Soros, and sharply increased the overnight lending rate, from 10% to 1,000-1,500%.

After a fierce battle.

Thailand finally maintained the baht at 25.2 baht per dollar on May 20.

However, it was also this attack that Soros, although he lost $300 million, has completely seen through Thailand's hole cards!