NOVEL WEB The youngest son of the chaebol family, Mo Hyun-min
Chapter 109
Affected by the collapse of the Thai baht, many Asian countries have fallen into panic, and they know very well that the group of international speculators who have now benefited will not let them go, these "survivors"! In particular, Indonesia and Feilubin, who are very close to Taiguo, are panicked.
Originally, their trade with Thailand was settled in their own currency. After the collapse of the Thai baht and the exchange rate reduction, even their domestic currencies were somewhat unstable, and the two countries with small foreign exchange reserves fell into an embarrassing situation. In order to save themselves, they tried to seek help from the surrounding "big dog households" Xinjiapo, as a "rich man" with foreign exchange reserves of more than 70 billion yuan, it will definitely help them get out of the predicament. However, their request was quickly rejected by the Xinjiapo official, and there was only one reason, that is, they were too busy to help.
Originally from independence, Xinjiapo has developed rapidly, and is known as the "Four Asian Tigers" together with the Xiangjiang and Baodao of the Country of Stick and Yanxia. In 1996, the Organization for Economic Cooperation and Development classified Xinjiapo as a "relatively developed developing country". In 1997, Xinjiapo's per capita GDP ranked eighth in the world, comparable to that of developed Western countries.
But behind Xinjiapo's prosperous economy, there are also many serious hidden dangers. Xinjiapo's economic policies have led to a more fragile domestic economic system and reduced resilience to risks, mainly in the real estate and financial sectors.
In the early eighties, after the extraordinary economic achievements of Xinjiapo, the people were too optimistic about the economy of Xinjiapo and wanted to change to new houses with bigger ones. Instead of taking measures to curb the development of the real estate market, Xinjiapo built a large number of new houses. By the nineties, the bubble in Singapore's property market was growing. Secondly, Xinjiapo implements an open financial policy in order to build an international financial center. By the 90s, Xinjiapo had become one of the largest financial centers in the world, and the foreign exchange market ranked fourth in the world, behind London and New York, and slightly behind Tokyo.
This time the Thai baht collapse directly affected the domestic stock market in Xinjiapo, and the stock market plummeted, and even the real estate industry also ushered in a sharp decline. The official of Xinjiapo is busy saving his own mess, how can he care about a few little brothers around? The catastrophe is coming, the dead Taoist friend is not dead and poor!
Indonesia and Feirubin officials, who had no avails for help, could only be incompetent and furious while silently praying, hoping that those international speculators would not look at their "poor haha". However, their prayers did not succeed, and after just a few days, they noticed that international speculators had set their sights on the Philippine Pipiso and Indonesian Rupiah, and began to sell in the market in large quantities, impacting currency exchange rates, and even in the foreign exchange market, large bearish futures contracts appeared.
......
Stick country domestic. The
official state of the stick country, which has finally stabilized the domestic situation, is also quite anxious at the moment. Yongsan, who was less than a year away from the end of his term, was extremely depressed in his heart. He still hasn't figured it out, obviously the Thai baht of the Taiguo was shorted by international speculators, how did it suddenly affect them here? The advisers to the Blue House were also confused, unable to speak in the face of Mr. President's inquiries. In the end, I
still invited bricks from the financial industry to help answer, and only then did I understand the situation. It turns out that the current situation in the country of Bangzi is not much better than that in the country of Taikokuo, the economic development is overheated, those large enterprises and chaebols are borrowing to expand production, Daying Group, Shunyang Group, Daewoo Group... It's all like this.
Moreover, the debt of the country is still relatively special, because since the era of the former N president, Park Chung-hee, the commercial bank has been received into the hands of the government, so the government is the guarantor of the debt. In order to develop the economy, Park Chung-hee asked the National Bank to give crazy loans to large enterprises to expand production, almost compulsory loans, and these enterprises have continued to expand and produce over the years, and have repaid very few loans. But the money in the banks of the
stick country is not blown by the wind, most of it is borrowed by the government from overseas banks, mainly the Sun Country, the Beautiful Country and some Western countries. "Chaebol-Bank of Korea-Korean government-Western bank", this is a chain of the economy of the stick country.
After the collapse of the Thai baht this time, not only Asian countries panicked, but also Western countries panicked, and they could still eat interest safely before shelving it. But this time the international speculators are menacing, a little careless, the loan that was originally lent to the stick country will be lost! In particular, the Sun Country, as one of the economically developed countries in Asia and close to the beautiful countries, has foreseen that the scale and difficulty of this crisis are unprecedentedly great, and it will be difficult to overcome it if it is not careful. Returning funds to survive the next possible crisis has become one of its main measures.
......
"Asie, the mess left by Park Chung-hee's guy, why should I deal with it!" Jin Yongsan roared angrily, the Thai baht does not explode early, does not explode late, but something happened during his term, and the group of guys chose to withdraw investment at this time, it is simply intentional to engage him!
In the face of the furious Jin Yongsan, the officials did not dare to speak, for fear that they would say the wrong thing and be directly held accountable by Yongsan. It wasn't until a while that Yongsan calmed down, and now the problem is here, if there is no solution, I am afraid that the Sun Country, the Beautiful Country and the Western countries will not give up.
Confidant officials, you look at me, I look at you, hesitated for a long time and did not dare to step forward and speak. In the end, the Minister of Finance took the initiative to reply, "Mr. President, at present, we still have 3-40 billion yuan in foreign exchange reserves, which can only cover part of overseas loans. My advice is to negotiate with them first and try to get them not to divest, or to divest later. At the same time, gather those enterprises in the country and let them raise funds to repay the loan.
Several other officials could not offer a better opinion, but acquiesced to the current seemingly feasible approach. Seeing this, Jin Yongsan could only pinch his nose and admit it. If they are branded as "owing money and not paying back", then their life will be sad in the future!
"Minister Cui, let me go down and gather those chaebols and big enterprises. Make them ready to pay back. If you can't, figure it out yourself. Jin Yongsan said in a deep voice, now it is difficult to ride a tiger, if the bank cannot take the money to pay off the debt, they can only use foreign exchange reserves. But now at this stall, once the foreign exchange reserves are used, those international speculators who are eyeing the tiger will inevitably rush to short the stick country, and the consequences can be imagined. The miserable situation after the collapse of the Thai baht is still vividly remembered!
Originally, their trade with Thailand was settled in their own currency. After the collapse of the Thai baht and the exchange rate reduction, even their domestic currencies were somewhat unstable, and the two countries with small foreign exchange reserves fell into an embarrassing situation. In order to save themselves, they tried to seek help from the surrounding "big dog households" Xinjiapo, as a "rich man" with foreign exchange reserves of more than 70 billion yuan, it will definitely help them get out of the predicament. However, their request was quickly rejected by the Xinjiapo official, and there was only one reason, that is, they were too busy to help.
Originally from independence, Xinjiapo has developed rapidly, and is known as the "Four Asian Tigers" together with the Xiangjiang and Baodao of the Country of Stick and Yanxia. In 1996, the Organization for Economic Cooperation and Development classified Xinjiapo as a "relatively developed developing country". In 1997, Xinjiapo's per capita GDP ranked eighth in the world, comparable to that of developed Western countries.
But behind Xinjiapo's prosperous economy, there are also many serious hidden dangers. Xinjiapo's economic policies have led to a more fragile domestic economic system and reduced resilience to risks, mainly in the real estate and financial sectors.
In the early eighties, after the extraordinary economic achievements of Xinjiapo, the people were too optimistic about the economy of Xinjiapo and wanted to change to new houses with bigger ones. Instead of taking measures to curb the development of the real estate market, Xinjiapo built a large number of new houses. By the nineties, the bubble in Singapore's property market was growing. Secondly, Xinjiapo implements an open financial policy in order to build an international financial center. By the 90s, Xinjiapo had become one of the largest financial centers in the world, and the foreign exchange market ranked fourth in the world, behind London and New York, and slightly behind Tokyo.
This time the Thai baht collapse directly affected the domestic stock market in Xinjiapo, and the stock market plummeted, and even the real estate industry also ushered in a sharp decline. The official of Xinjiapo is busy saving his own mess, how can he care about a few little brothers around? The catastrophe is coming, the dead Taoist friend is not dead and poor!
Indonesia and Feirubin officials, who had no avails for help, could only be incompetent and furious while silently praying, hoping that those international speculators would not look at their "poor haha". However, their prayers did not succeed, and after just a few days, they noticed that international speculators had set their sights on the Philippine Pipiso and Indonesian Rupiah, and began to sell in the market in large quantities, impacting currency exchange rates, and even in the foreign exchange market, large bearish futures contracts appeared.
......
Stick country domestic. The
official state of the stick country, which has finally stabilized the domestic situation, is also quite anxious at the moment. Yongsan, who was less than a year away from the end of his term, was extremely depressed in his heart. He still hasn't figured it out, obviously the Thai baht of the Taiguo was shorted by international speculators, how did it suddenly affect them here? The advisers to the Blue House were also confused, unable to speak in the face of Mr. President's inquiries. In the end, I
still invited bricks from the financial industry to help answer, and only then did I understand the situation. It turns out that the current situation in the country of Bangzi is not much better than that in the country of Taikokuo, the economic development is overheated, those large enterprises and chaebols are borrowing to expand production, Daying Group, Shunyang Group, Daewoo Group... It's all like this.
Moreover, the debt of the country is still relatively special, because since the era of the former N president, Park Chung-hee, the commercial bank has been received into the hands of the government, so the government is the guarantor of the debt. In order to develop the economy, Park Chung-hee asked the National Bank to give crazy loans to large enterprises to expand production, almost compulsory loans, and these enterprises have continued to expand and produce over the years, and have repaid very few loans. But the money in the banks of the
stick country is not blown by the wind, most of it is borrowed by the government from overseas banks, mainly the Sun Country, the Beautiful Country and some Western countries. "Chaebol-Bank of Korea-Korean government-Western bank", this is a chain of the economy of the stick country.
After the collapse of the Thai baht this time, not only Asian countries panicked, but also Western countries panicked, and they could still eat interest safely before shelving it. But this time the international speculators are menacing, a little careless, the loan that was originally lent to the stick country will be lost! In particular, the Sun Country, as one of the economically developed countries in Asia and close to the beautiful countries, has foreseen that the scale and difficulty of this crisis are unprecedentedly great, and it will be difficult to overcome it if it is not careful. Returning funds to survive the next possible crisis has become one of its main measures.
......
"Asie, the mess left by Park Chung-hee's guy, why should I deal with it!" Jin Yongsan roared angrily, the Thai baht does not explode early, does not explode late, but something happened during his term, and the group of guys chose to withdraw investment at this time, it is simply intentional to engage him!
In the face of the furious Jin Yongsan, the officials did not dare to speak, for fear that they would say the wrong thing and be directly held accountable by Yongsan. It wasn't until a while that Yongsan calmed down, and now the problem is here, if there is no solution, I am afraid that the Sun Country, the Beautiful Country and the Western countries will not give up.
Confidant officials, you look at me, I look at you, hesitated for a long time and did not dare to step forward and speak. In the end, the Minister of Finance took the initiative to reply, "Mr. President, at present, we still have 3-40 billion yuan in foreign exchange reserves, which can only cover part of overseas loans. My advice is to negotiate with them first and try to get them not to divest, or to divest later. At the same time, gather those enterprises in the country and let them raise funds to repay the loan.
Several other officials could not offer a better opinion, but acquiesced to the current seemingly feasible approach. Seeing this, Jin Yongsan could only pinch his nose and admit it. If they are branded as "owing money and not paying back", then their life will be sad in the future!
"Minister Cui, let me go down and gather those chaebols and big enterprises. Make them ready to pay back. If you can't, figure it out yourself. Jin Yongsan said in a deep voice, now it is difficult to ride a tiger, if the bank cannot take the money to pay off the debt, they can only use foreign exchange reserves. But now at this stall, once the foreign exchange reserves are used, those international speculators who are eyeing the tiger will inevitably rush to short the stick country, and the consequences can be imagined. The miserable situation after the collapse of the Thai baht is still vividly remembered!
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