Resource Tycoon Reborn

~Date:~September 17~

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The sun is scorching hot in Hong Kong in June, and in more than ten days, it will be the day when Hong Kong returns to the motherland. The whole of Hong Kong has a joyful and festive atmosphere, but it is difficult to conceal the uneasiness in the hearts of everyone! But at this time, we are living in the old house of the Guo family.

Fang Mingyuan in the middle of the crisis has no energy to care about this! Because the vanguard of the Southeast Asian financial crisis has already revealed his talents at this time!

"Mingyuan, the exchange rate of Thai baht to U.S. dollars has increased again! Now it is 25.12 bahts for one U.S. dollar!" Lin Rong, who walked in from the door, couldn't hide the anxiety in her heart. Now the exchange rate of Thai baht has been compared with 25.12 bahts.

There is a huge difference in the exchange rate between months. If this continues, I am afraid that by then, the nearly 10 billion U.S. dollars that Fang Mingyuan entered into Thailand through multiple channels will be wasted!

On March 6, 1997, the Central Bank of Thailand announced that 11 financial companies and two housing loan companies in Thailand had problems of low asset quality and insufficient liquidity. These financial companies and housing loan companies were required to

This order increases capital by 8.5 billion baht, equivalent to approximately 330 million U.S. dollars. It also requires banks and other financial institutions in Thailand to increase the ratio of bad debt reserves from the original 100% to 120%.

This has increased Thailand's financial system reserves by nearly US$2 billion! This move by the Central Bank of Thailand was originally intended to strengthen the stability of the financial system and increase people's confidence in Thailand's financial industry!

But many times, good intentions do not always lead to good things! With this decision of the Central Bank of Thailand, investors withdrew nearly US$600 million in baht from these troubled companies in just two days! And with this

At the same time, investors sold a large number of stocks of banks and financial companies, resulting in a continuous decline in the Thai stock market and downward pressure on the foreign exchange market. It can be said that this move by the Central Bank of Thailand not only failed to have the expected stabilizing effect, but

On the contrary, the public's confidence in Thailand's financial institutions declined, resulting in a run! On March 10, international investment institutions in Thailand launched a wave of selling the Thai baht, causing large fluctuations in the Thai baht exchange rate. The Central Bank of Thailand had to use up to

US$3 billion in foreign exchange was purchased into Thai baht, thus stabilizing the market.

However, after mid-June, international investment institutions speculated on the Thai baht more intensely. By borrowing Thai baht from local banks in Thailand and selling a large amount of Thai baht in the spot and forward markets, they suddenly launched an attack on the market and short-sold the Thai baht, resulting in

The sharp decline in the spot exchange rate of the Thai baht caused panic in the market. Local banks and enterprises, as well as foreign banks, entered the market one after another, selling Thai baht on the spot to buy U.S. dollars or making forward hedging transactions of Thai baht against the U.S. dollar, leading to further deterioration in Thailand's financial market.

The Thai baht exchange rate against the U.S. dollar once fell to the level of 27 baht to one U.S. dollar. Faced with the impact of international financial speculators, the Central Bank of Thailand took many forms from the central banks of Japan, Hong Kong, the Philippines, Singapore, Indonesia, Malaysia and other countries and regions.

support. As a result, it increased its intervention in Thailand's financial market, using about 6 billion US dollars in foreign exchange to intervene. At the same time, the Central Bank of Thailand issued an order prohibiting the Bank of Thailand from lending Thai baht to foreign countries! It also raised the offshore lending rate to 100

One thousandth, thus causing the cost of speculating on the Thai baht to increase dramatically. Under this series of intervention measures, the Thai baht exchange rate began to stabilize, and the Central Bank of Thailand temporarily took control of the situation.

Lin Rong felt that these days, her heart was like riding a roller coaster, rising and falling, happy and sad!

Fang Mingyuan handed her a newspaper casually, pointed at a paragraph of text in it and said, "You will understand after you look at it. There is nothing to worry about!"

"Germany's Berlin Handelsblatt reported that 'Thailand now faces the same dangerous situation as the pound sniper war and the Mexican financial crisis... Big speculators like Soros do not rule out devaluing the Thai baht by 20 or more

% probability!'" Lin Rong read softly. Then she looked at Fang Mingyuan with some confusion.

"The economies of these countries in Southeast Asia have been experiencing rapid growth for ten consecutive years. And along with the rapid growth of the national economy, the amount of bank credit in these countries has increased faster than the economy, and the amount of short-term foreign debt has also reached unprecedented levels. More

The important thing is that a considerable part of it is invested in the real estate industry. The increase in investment will inevitably lead to asset price inflation. And because the exchange rate systems of these countries are inflexible, these countries do not consider exchange rate risks when borrowing large amounts of foreign debt.

This undoubtedly gives big speculators like Soros a rare opportunity!" Fang Mingyuan read the newspaper in his hand softly.

"Everyone is just an afterthought. Why didn't anyone remind me at the beginning!" Fang Mingyuan threw the newspaper aside and sneered, "Soros is now in the international financial world because of his victory in the pound sniper war and the Mexican financial crisis. He has gained high status.

His words are like the golden rule in the mouth of our leaders to speculators all over the world. Just wait and see. News of the devaluation of the Thai baht will soon be spread again in the international financial market, and by that time, I am afraid that everyone will

All the world's speculative funds will be mobilized by him! Thailand's foreign exchange reserves are only a mere thirty to forty billion U.S. dollars, and after these two waves of offensives, although Soros's attacks have been blocked, by now, Thailand's foreign exchange reserves are probably no more.

There are only more than 20 billion US dollars left, and do you know how much the international speculative funds that are pouring in will be? Hundreds of billions to trillions of dollars!"

Lin Rong couldn't help but take a breath, this is really a rich country! Even if Thailand has three heads and six arms, it is impossible to resist it!

"So, we don't need to do anything, we just need to wait quietly!" Fang Mingyuan cast his eyes in the direction of Thailand. Thinking about it, in the next few days, Thailand's Finance Minister should resign.

!

On June 23, Thailand's Finance Minister suddenly resigned publicly. This unexpected incident triggered strong speculation in the international financial community that the Thai baht may depreciate again, causing the Thai baht exchange rate to plummet to 20 per US dollar.

Around 8.7 baht. At this time, the Thai stock market also fell from 1,384 points at the beginning of the year to 413 points, which was the lowest point since 1990. It fell by 3

Divide into two!

On June 29, the Thai baht plummeted again to 29.94 baht per US dollar!

But at this time, Fang Mingyuan no longer had the intention to pay attention to the situation in Thailand, because that great man had already arrived in Pengcheng Special Economic Zone, which is only across the water from Hong Kong!

Fang Mingyuan got the news from Su Huandong that the old man's condition has stabilized since mid-February this year. Although everyone from the central government to the local government hopes that the old man can recuperate in the capital to enjoy his life, they don't want to

He came to Hong Kong all the way, but the old man's attitude was extremely determined! He must personally set foot on the land of Hong Kong after returning to the motherland!

In the end, no one could disobey the old man's will. Fortunately, the Beijing-Hong Kong Railway was opened to traffic, so a special train was used to carefully transport the old man to Pengcheng!

Both Mr. Guo and Zheng Yutong were invited by the old man, and Fang Mingyuan was honored to go with Mr. Guo.

In the small living room, although the old man was sitting there, his body still upright, it could be seen that the old man had lost a lot of weight, and the age spots on his face were more obvious! Fang Mingyuan's eyes were a little sore, and the old man's merits and demerits were right and wrong.

, it is not something he can criticize, but in the hands of the old man, he ended the Cultural Revolution, started reform and opening up, took back Hong Kong and Macau, taught a lesson to the Vietnamese little devils, and terminated the lifelong tenure of central leadership. These are all unquestionable

Achievements!

The old man in his previous life passed away five months before the return of Hong Kong, leaving deep regrets for both the world and himself. In this life, the old man was finally able to fulfill his long-cherished wish! Seeing with his own eyes the national flag of the Republic of China.

Flying high on the land of Hong Kong!

"Mr. Guo, sit down! My legs and feet are not very sharp, so I won't stand up!" The old man's voice was loud and full of energy.

"Don't stand up! I can't bear it!" Mr. Guo waved his hands repeatedly.

"Ha, you're here too, the little genius of the Fang family!" The old man turned his eyes to Fang Mingyuan and said with a bright smile.

"Hello, Grandpa!" Fang Mingyuan bowed respectfully.

"Sit down! Sit here!" The old man patted his side and said. Fang Mingyuan looked around, and all the people accompanying him showed expressions of surprise. It was obvious that this was an honor! Fang Mingyuan was hard.

I sat down with my scalp on my head.

"I have to come to Hong Kong this time. One is to see with my own eyes the moment of Hong Kong's handover, which will fulfill my wish; the other is to see if the Southeast Asian financial crisis you are talking about will really come!"

He said in a deep voice, "But now it seems that the latter one is really coming!"

In the meeting at the beginning of the year, Fang Mingyuan once boldly mentioned his concerns about the economies of Southeast Asian countries. Although the old man remained calm at the time, it now seems that he still put in a lot of effort.

"Oh, there are so many experts and scholars in the government, but none of the young people can make accurate judgments. This makes me very disappointed!" The old man shook his head helplessly. In fact, in the Chinese domestic media, there is no report on the economic situation of Southeast Asian countries.

There was still some discussion about the situation. Unfortunately, the argument that the countries in Southeast Asia can continue to develop at a high speed and that it is just a small setback has completely gained the upper hand! Until mid-June.

In the second half of the year, due to the sharp fall of the Thai baht, the tone of the domestic media changed!

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