Resource Tycoon Reborn

The financial crisis in Southeast Asia continues to rage.

On September 14, 1997, due to the impact of the Southeast Asian financial crisis, the exchange rate of the Korean won against the U.S. dollar hit new lows repeatedly. On this day, it even fell to the lowest level since South Korea implemented the market average exchange rate in March 1990.

point, the closing price was 908 Korean won to one U.S. dollar. And in the following days, it even fell below the mark of 1,000 Korean won to one U.S. dollar!

In fact, the Korean economy has already encountered difficulties since entering 1997. Many domestic consortiums are facing the desperate situation of bankruptcy. Because Korean financial institutions have very serious non-performing loan problems, and the Korean government is unwilling to open up to the outside world.

Publish accurate figures - Officially, non-performing loans in the banking industry account for about 2% to 3% of total loans, but in fact, this proportion has more than doubled!

And at that time, the Korean government's basic attitude towards non-performing loans of financial institutions was that these financial institutions in South Korea must rely on their own efforts to reduce costs, and they can also use foreign funds to reorganize assets, but there must be limits, otherwise the government will not grant official

Financial support. This caused almost all financial institutions in South Korea to face serious liquidity difficulties when the Southeast Asian financial crisis broke out.

After the outbreak of the Southeast Asian financial crisis, all financial institutions in South Korea are facing double contradictions, namely the rapid deterioration of asset quality and serious lack of capital. Due to the bankruptcy of large enterprises and the unfavorable operations of financial institutions, bank non-performing loans are getting worse and worse.

The financial crisis in Southeast Asia caused significant fluctuations and sharp depreciation of the Korean won against the U.S. dollar. This made foreign investors have no confidence to invest in Korean financial institutions, and no foreign banks were willing to provide loans to Korean financial institutions at this time. Therefore, the Korean government

There was no choice but to use a large amount of funds to purchase non-performing assets of Korean financial institutions and restructure these financial institutions. As a result, the government became the largest shareholder of commercial banks.

On October 16, 1997, the Philippine peso fell to a new low in history, and the average trading price for the entire day fell below the 39 pesos to one U.S. dollar for the first time, reaching 39.9 pesos to one U.S. dollar.

Seven pesos. It is close to the 40 pesos exchange rate for one dollar! This figure has greatly reduced the confidence of investors! The financial situation in Southeast Asian countries that has just eased has become severe again!

Hong Kong's stock market has also continued to decline due to the influence of stock markets in Southeast Asian countries. And the decline has also intensified! And it's not just the stock market. Hong Kong's foreign exchange market has also seen a large amount of Hong Kong dollars being sold, and the exchange rate of Hong Kong dollars against the US dollar has therefore declined.

However, due to the active intervention of the Hong Kong government and the Monetary Authority, it did not cause any major fluctuations. This made people who were paying attention to Hong Kong's financial market secretly let out a sigh of relief.

However, on October 18th, just one day later, worse news came!

When Taiwan's economy was in good shape, its foreign exchange reserves were sufficient, and it was fully capable of maintaining the stability of the New Taiwan dollar's exchange rate, the Taiwan authorities proactively announced without warning that they would give up intervention in Taiwan's foreign exchange market. On the same day, the New Taiwan dollar fell against the U.S. dollar.

4.18%. It fell to 30.57 Taiwan dollars per US dollar, setting a record for the lowest exchange rate between Taiwan dollars and US dollars in the Taiwan foreign exchange market in ten years!

"In early September, the Taiwan government also vowed to the international community that it would defend the exchange rate of the New Taiwan dollar. To this end, the Taiwan authorities also used tens of millions of dollars in foreign exchange reserves to purchase New Taiwan dollars in the foreign exchange market.

The exchange rate of the New Taiwan dollar against the U.S. dollar has increased to the level of 28.6 to one U.S. dollar. But the words are still in their ears, but they gave up maintaining the stability of the New Taiwan dollar exchange rate without even saying hello!" Zheng Yutong said angrily, "This is an act.

, it’s betrayal!”

No wonder Zheng Yutong was so angry. A few days ago, Fang Mingyuan reminded everyone to beware of the possible devaluation of the New Taiwan Dollar. At that time, Zheng Yutong was still a little skeptical. The Zheng family also has a lot of investments in Taiwan and has many relatives and friends.

Zheng Yutong was quite familiar with the situation on the island of Taiwan. So when Fang Mingyuan said that the New Taiwan dollar might depreciate, Zheng Yutong made a special call to inquire. He was told that he had not heard anything about it.

News of currency devaluation. Zheng Yutong just mentioned this to Fang Mingyuan today, and less than half an hour later, the Taiwan government's decision came.

Mr. Guo looked at Zheng Yutong with some sympathy. After all, Zheng Yutong had only been in contact with Fang Mingyuan for a short time, and he had not yet truly understood what a monster was. At least Mr. Guo knew that in all major matters, what Fang Mingyuan did

The judgment is correct 10 times out of 10, and if he can say it with certainty, it is 100% correct. Therefore, as soon as Fang Mingyuan reminded everyone, Mr. Guo did not hesitate to spend all the New Taiwan Dollars in his hand.

Converted into US dollars.

"The news from Taiwan is that the Taiwan stock market has dropped by 127 points so far, and the exchange rate of the New Taiwan dollar against the US dollar is also constantly falling!" The middle-aged man sitting opposite Mr. Guo said with a gloomy face, "Taiwan

What do the authorities want to do?”

This middle-aged man is Su Huandong's eldest son, Su Aiguo, a deputy director of the China Development Commission. This time, with the outbreak of the Southeast Asian financial crisis, in order to better protect Hong Kong's economy, the central government sent a working group to Hong Kong to assist

The Hong Kong government is responding to the financial crisis. Su Aiguo is one of them, but his task is to serve as the link between the three-person small group of the Fang family, the Guo family, and the Zheng family and the central working group!

A few days ago, after Fan Mingyuan raised the conjecture that the New Taiwan Dollar might depreciate, although Su Aiguo felt a little disapproving and believed that it was impossible for the Taiwan authorities to slap him in the face on such a matter, he still conveyed Fan Mingyuan's concerns back to the working group

.The experts in the working group, after much consideration, still believed that the possibility of things happening was not high, so the working group did not make any preparations. No one thought that things would actually come true!

Fang Mingyuan sighed softly in his heart. Although he had been mentally prepared for a long time, when what happened, Fang Mingyuan still felt very uncomfortable!

It is actually not difficult to analyze the reasons behind the decision made by the Taiwan authorities! In Fang Mingyuan's view, the reason why the Taiwan authorities made such a decision was actually due to two considerations.

On the one hand, it is from the perspective of economic development. Taiwan is one of the Four Asian Tigers. Due to the limited market size on the island, most of the products produced in Taiwan are supplied to countries around the world. To put it bluntly, it also relies on foreign trade exports.

Stimulating the economy. Although the Taiwan authorities have deliberately expanded domestic demand in recent years, foreign trade exports still occupy an unshakable position in Taiwan's economy.

After the outbreak of the Southeast Asian financial crisis, due to the general depreciation of the currencies of Southeast Asian countries, this will inevitably have a direct impact on Taiwan's foreign trade exports, which is undoubtedly what the Taiwan authorities do not want to see.

On the other hand, Fang Mingyuan has never been afraid to speculate on the worst side of the Taiwanese president who is now in office. As a former leader of Taiwan who was favored by his opposition to terrorism,

After being chosen as his successor, he blatantly supported pro-democracy activities and openly interacted with pro-revolutionaries after coming to power. As a Taiwanese, he blatantly massacred countless Taiwanese people for having colonized Taiwan for decades.

The Japanese waved flags and said good things, and even went to visit the Yasukuni Shrine! In 1996, because of his inappropriate remarks, a crisis in the Taiwan Strait was caused! And it was precisely because of his ability to turn clouds and rain that he ruled Taiwan

The Kuomintang, which had been in power for decades, lost its status as the ruling party after he left office!

For such a Taiwanese leader, Fang Mingyuan believes that the Taiwan authorities' actions can be said to have ulterior motives from a political perspective! The depreciation of the New Taiwan dollar has caused those international financial speculators who originally focused on Taiwan to turn their attention to Hong Kong.

, and further shaken investors' confidence in coping with the financial crisis in Southeast Asia, exacerbating the chaos in Southeast Asia's financial markets, and further psychologically isolating Hong Kong, causing speculators to turn their attention to Hong Kong again.

If it can hit Hong Kong's economy hard and cause Hong Kong's economy to fall into chaos, on the one hand, Taiwan can lose one competitor in exports; on the other hand, it can also use this to discredit the mainland - as soon as the mainland took over Hong Kong, Hong Kong's economy

Trapped in trouble! Such a result will undoubtedly make many Taiwanese lose confidence in "One China"!

"Director Su, this move by the Taiwan authorities will inevitably have a direct impact on Taiwan's financial market, and the instability of Taiwan's financial market will inevitably cause instability in the financial markets of other countries. The top priority now is to start immediately.

Prepare to deal with the ensuing impact!" Mr. Guo said solemnly, "The central government must be mentally prepared. In the next few days, Hong Kong's stock and foreign exchange markets will be turbulent!"

Su Aiguo's face turned ugly, he stood up in a hurry and left to say goodbye.

And everything that happened next also confirmed that Mr. Guo's worries were not groundless.

On October 18, the Taiwan stock market finally fell by 183 points, the largest drop in recent years. On October 21, the Taiwan stock market fell by another 323 points, setting a new record

Historical record! The exchange rate of the New Taiwan dollar against the U.S. dollar also fell to a new low of 31.15 New Taiwan dollars per U.S. dollar! The depreciation of Taiwan’s currency and the sharp decline in the stock market not only further intensified the financial crisis in Southeast Asia, but also triggered a series of financial crisis, including the U.S. stock market.

Global stock markets including.

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