Reborn Tycoon Rise

After two months of review and negotiation, Sumitomo Bank teamed up with seven local banks in Japan, including the most famous Mitsui Banking Corporation, Imperial Bank of Japan, etc., to jointly undertake the huge loan project applied for by Midea.

The main share of loans is Sumitomo Bank, which borrows US dollars to repay US dollars. Xu Zhi is aware of the exchange rate risks, and these banks are naturally the same. Not to mention that the top management of these banks have very close relationships with Japanese political circles. Even if they do not know about the Plaza Accord, They are also more or less aware of the pressure exerted by the US government and the response attitude of their own governments, etc. Those who are interested actually already know the final outcome of the situation, but they do not know the specific time and the magnitude of the exchange rate fluctuation.

For example, Soros, the most famous financial tycoon in the United States, made hundreds of millions of dollars in profits by paying attention to the whereabouts of the foreign ministers and commerce ministers of several major countries. Not something ordinary people can afford to play.

It is prudent to invest directly to make profits, rather than using extremely risky leverage financing.

In addition to Midea's upcoming participation in the Japanese real estate market, other companies under Xu Zhi have also joined in more or less. Hutchison Whampoa invested HK$5 billion, Land raised HK$3 billion, Evergrande invested HK$2 billion, Disney It also invested 300 million U.S. dollars. The largest investment was Blackstone Fund, which invested 1.5 billion U.S. dollars. These funds were not invested in the real estate market. Instead, they were converted into Japanese yen and directly purchased the Nikkei Index and Japan's top real estate companies. stock.

In the five years after the Plaza Accord, the growth rate of the Japanese stock market was no less than that of the housing market. By the beginning of 1990, the Nikkei Index rose 4.86 times compared with 1985. The market value of the entire Japanese stock market accounted for 45% of the global stock market value. In terms of bubbles, The Japanese stock market is no smaller than the housing market.

After the US$4 billion in loan funds arrived, Xu Zhi spent half of his time in Japan personally, directing the acquisition of various large-scale properties or office buildings. Among them, the Sumitomo Foundation played a very important role. After all, the subsequent loan projects were also huge. Profits, but also a lot of agency fees.

It took another three months for Xu Zhi to acquire a total of 13 office buildings, some large shops and some residences in Japan, with a total area of ​​800,000 square meters. The most expensive office building is located in Ginza.

Entry into the stock market is even simpler. It is not a secret acquisition. There are dozens of high-quality companies to choose from. Even though almost 3 billion US dollars entered the market, there was no wave. After the stock purchase was completed, Xu Zhi looked for it again. Sumitomo Bank used these stocks as collateral to lend another US$2 billion and entered the market again.

At this point, the preliminary preparations for the Plaza Accord have been completed, and the waiting east wind has appeared as scheduled.

On September 22, 1985, nothing changed from the historical period. The finance ministers of the United States, Japan, Britain, France, and Germany signed the world-famous Plaza Accord in Tokyo. The finance ministries of the five countries joined forces to control the foreign exchange market. Protect the dollar system.

After the meeting, Japan, Germany, Britain and France joined forces to sell US dollars in the international market, which then forced more investment institutions and ordinary people to form a selling frenzy to force the dollar to depreciate.

Xiangjiang:

"Chairman, you are really clever!" In the new headquarters located in Hung Hom, Wang Liming, Ma Shimin, Zhou Enmao, Yao Mingcheng and Xu Zhi were in the new chairman's office, happily watching the TV program in front of them. On the Japan International Channel, the host introduced the newly announced new content of the "Plaza Accord" in Japanese English.

"It's not a magical plan. In fact, many people can predict this. Those who have the courage have already entered the market. I am just one of them." Xu Zhi said with a smile.

Wang Liming then asked Wan: "Chairman, a rise in the yen exchange rate will generally cause economic difficulties, and the stock market and land prices will fall. We made the right investment by converting the yen, but with so many real estate and stocks, I am worried about the risks. Not small."

"Generally, it's what you said, but this theory is based on the experience of Western economic societies. It probably won't work in Asia, especially Japan." Xu Zhi shook his head and said: "Asians are good at face, and Japan is even more so. They We will not accept economic recession and will definitely find ways to stimulate the economy. When problems arise in overseas markets, the burden of economic growth can only be shouldered by the country.

It's just that Japan has only 100 million people, and its consumption level is limited and cannot satisfy that much production capacity. In this case, real estate and the stock market will inevitably prosper, or at least the same. "

Many people in later generations attributed Japan's lost twenty years to the Plaza Accord. In fact, this is not correct. The Plaza Accord led to the devaluation of the U.S. dollar against the currencies of the four countries, because the U.S. dollar is a universal currency and the currencies of most countries are also pegged to the U.S. dollar. , directly speaking, the result of the Plaza Accord is that the yen, pound, franc and mark all appreciated significantly.

But among these countries, the only one with major economic problems is Japan.

In fact, in the years after the signing of the Plaza Agreement, the appreciation of the national currency caused the export industry to deteriorate and trade deficits began to form. Life was difficult for Germany, Britain, and France. Except for Germany, which relied on its strong industry, the other two countries Some European countries, including those whose exchange rates were not pegged to the U.S. dollar, waited until the mid-1990s to gradually return to normal. This was also one of the reasons for Europe's economic recession in the 1990s.

But Japan is different. After the Plaza Accord was signed, there were only trade difficulties in the first two quarters, but the economy quickly returned to strength after that. The reason is simple. A large amount of economic activities moved from abroad to the domestic market.

If economic development is compared to a long journey, the four countries that signed the Plaza Accord are equivalent to the travelers catching a cold. The other three countries have slowed down their progress and rested slowly in an attempt to regain their strength, while Japan Differently, in order to prevent the occurrence of "exchange rate appreciation recession", an economic stimulus policy with low interest rates was implemented, a large amount of excess currency was issued, and banks were asking for loans everywhere. This was equivalent to giving stimulants to people with colds to stimulate their potential.

But now the problem arises. A large number of industrial factory owners have obtained large amounts of loan funds, but have nowhere to spend it? What to do (⊙o⊙)?

The industrial operating model determines that the operation and expansion of the factory are not determined by whether it has money, but by whether there are orders.

The appreciation of the yen makes exports difficult. Even if factory owners have money, how can they expand production lines?

But even if the interest rate is low, the loan still has to be repaid, so you have to invest something, right?

As a result, real estate and the stock market have become the targets of capital.

The reason is simple: when all the capital is invested in industry, everyone will immediately fall into vicious competition, and everyone will lose money. But if all the capital is invested in real estate or the stock market, everyone will make a profit.

In practice, it is also a problem that many countries are prone to encounter in the development process. In order to prevent economic recession, they issue currency on a large scale. No matter what the currency is used for, whether it is infrastructure or charity, in the end the money will go into the stock market or real estate market. A huge bubble forms.

This is the characteristic of capital. Funds from excessive currency will inevitably flow into real estate and finance, and the development of these two industries that do not produce any social value.

Therefore, countries with ridiculously high housing prices are not just the evil intentions of internal capitalists, malicious real estate speculation makes ordinary people unable to live, but the printing of too much money. This money has no place to go and can only be gathered in the real estate market. Real estate raids are nothing more than It is just a superficial product of this economic phenomenon.

The phenomenon of high housing prices in Xiangjiang is not based on this principle, but on artificial control of land. The 85,000 policy in the early 20th century could actually solve this problem, but it was later forced to terminate due to various reasons.

After the Plaza Accord, Germany, Britain, and France all stabilized currency issuance, restricted the inflow of international hot money, and controlled basic prices. As a result, Japan became a paradise for international capital. A large amount of international hot money entered, which inflated housing prices and the stock market.

After the Japanese got rich, they began to commit suicide. A large number of them went to the United States for shopping. High-profile buildings such as the Rockefeller Building were taken down by the Japanese. Although they lost the face of Americans, these are just buildings. For the United States, Said there was no actual loss.

"But isn't this just drinking poison to quench thirst?" Zhounian Mao asked.

"Quiding thirst is the current job's credit. As for the poisoning, it's up to the next one." Xu Zhi laughed.

"..." Everyone also understood.

Xu Zhi continued: "We don't need to worry about the Japanese government's affairs. Everyone only needs to pay attention to this investment. According to my estimation, it will take at least a few years to recover it. We should deal with the affairs in Xiangjiang first." Bar."