Resource Tycoon Reborn

Of course, Fang Mingyuan did not mention this point, and Li Jianxi and Yin Zhonglong may not be able to see it. It is just that this result has more advantages than disadvantages for South Korea and the group company, which is enough. South Korea today

Foreign exchange reserves exceed 200 billion U.S. dollars, ranking fourth among all countries in the world! Based on South Korea's international ranking of gross national product, it is not actually necessary to hold such a large amount of foreign exchange reserves, but as the saying goes

Once bitten by a snake, you will be afraid of well ropes for ten years.

Before the 1980s, the South Korean government's financial policy could be described in six words - high borrowing, low reserves! Before 1988, South Korea's foreign exchange reserves had never exceeded the 10 billion U.S. dollar mark.

The consequence of this policy is that when South Korea's external debt grows rapidly, especially when the amount of short-term external debt exceeds foreign exchange reserves, a bomb is planted.

With the outbreak of the Asian financial crisis, this bomb was detonated, and South Korea's foreign exchange reserves decreased rapidly. At least it was only a little over three billion US dollars. If it were not for the financial support from the International Monetary Fund, South Korea would inevitably be unable to pay its debts.

However, South Korea also paid the price of transferring "financial sovereignty" and had to abandon the market average exchange rate system and adopt a free floating exchange rate system. In order to supplement the country's foreign exchange reserves, many Korean citizens sold their gold to the country.

It also left a very deep impression on countries around the world.

Although the Korean government and people worked together as one to repay the International Monetary Fund loan as quickly as possible and the economy returned to the upward path, all this left an unforgettable memory for both the Korean government and Korean people.

After that, the South Korean government accepted this painful lesson, accelerated the opening of the capital account, and encouraged the inflow of foreign exchange funds, working hard to improve South Korea's international balance of payments, paying special attention to increasing the accumulation of foreign exchange reserves to enrich the family. From 2,000

In 2006, South Korea returned its loan to the International Monetary Fund. By early 2006, in less than six years, South Korea's foreign exchange reserves exceeded US$200 billion, becoming the fourth country with the world's largest foreign exchange reserves.

.It can be said to be one of the countries with the fastest growth in foreign exchange reserves in those years.

However, the more foreign exchange reserves, the better. The South Korean government, which encourages the inflow of foreign exchange funds and restricts capital outflows, gained the title of the fourth largest foreign exchange reserve country in the world. At the same time, it also faced the cost pressure of managing huge foreign exchange reserves. The year before last,

The Bank of Korea suffered a loss of nearly 200 million U.S. dollars. This was the Bank of Korea's first loss in the past decade. Naturally, it attracted the attention of the Korean government and the public. The main reason for the loss was to offset the impact of foreign capital inflows and the cost of managing huge foreign exchange reserves was too high.

.It was also since then that the Korean government put forward a variety of plans for the management of huge foreign exchange reserves to ease the pressure of rapid growth in foreign exchange reserves and ensure the maintenance and appreciation of existing foreign exchange reserves. But to be honest, in the past two years.

The effect of maintaining and increasing the value of reserves is limited, mainly because the US dollar has continued to depreciate during this period, the Korean won has appreciated, and the US dollar accounts for the vast majority of South Korea's foreign exchange reserves.

Regarding this unfavorable situation, the South Korean government is actually trying to find a way to break it. Signing a currency swap agreement with China and eventually realizing free convertibility of the two countries' currencies will undoubtedly alleviate this unfavorable situation. And the people who contributed to this result are naturally

Will benefit from it.

This result is a good thing for China and South Korea, but it is not a good thing for Americans. The status of the US dollar as an international currency is largely reflected in the fact that it is the foreign exchange currency of various countries around the world.

Even the rise of the euro has not completely shaken its status as the most important reserve currency. Americans are not worried about the possibility of the Korean won becoming an international currency, but they certainly do not want to see the Chinese dollar becoming an international currency.

If it does, it will challenge the dominance of the U.S. dollar as the international currency.

As an ally of the United States in Asia, the South Korean government must of course consider the attitude of the Americans. But as Fang Mingyuan said, it can be discussed first. As long as a formal agreement has not been reached, even if the Americans have opinions, they will not exert much pressure.

After all, allies are not vassals, and no matter how overbearing the Americans are, they cannot blatantly and seriously interfere in a country's monetary policy without justifiable reasons.

"Listening to Mr. Fang's words, I feel that there is something in the words." Yin Zhonglong frowned and said, "Could it be that less than ten years have passed since the Southeast Asian financial crisis, and a new financial crisis is about to break out?

Already?"

"I have this feeling in my heart. It's just that we can't determine the time and influence yet." Fang Mingyuan said bluntly, "I just want to remind you that it's best to be prepared." Yin Zhonglong and Li Jianxi looked at each other, but their hearts were high.

They began to pay attention to it - since Fang Mingyuan dared to say it, he must be somewhat sure, and Fang Mingyuan's past "records" forced them to pay attention to Fang Mingyuan's views.

Of course, there is also a bit of excitement in the hearts of the two people. In crises, there are dangers and opportunities. For those who are not prepared, it is the danger of falling, but for those who are prepared, this is an opportunity! Samsung Group

For South Korea to be able to develop to today's heights, the Asian financial crisis of that year also played a considerable role. It was precisely because the Asian financial crisis suppressed many consortiums in South Korea that they could not breathe, and even many went bankrupt and liquidated.

Samsung Group, which has received timely replenishment of funds, has the opportunity to annex others and occupy the vacated market!

"The company also needs to strengthen cooperation with China, because I think this financial crisis will hit European and American countries hard, but it will not have a big impact on China. Of course, if the economies of European and American countries are hit, China's exports will still be affected to a certain extent.

Influenced." Fang Mingyuan said with a smile.

"Well, I understand that with China's current financial policy, the possibility of large-scale capital flight is very low." Yin Zhonglong said thoughtfully. The impact on China is not great, but it does not represent the impact on South Korea.

Not big. South Korea, which has implemented a free floating exchange rate system, has a narrow domestic market, and export trade is the mainstay of South Korea's economy. If the markets of European and American countries suffer a serious financial crisis...

"Bah, bang, bang!" Fang Mingyuan gave three high-fives to wake up Li Jianxi and Yin Zhonglong, who were each thinking deeply, and then said, "It can only be said that the signs have been revealed, and it is far from a real outbreak.

It will probably take a year if it's too fast, it could be two or three years if it's too late, and of course, it might be strangled to death in advance. There's no need to think too much too early."

"Haha, Mr. Fang is right, but the financial crisis can only delay the outbreak..." Yin Zhonglong asked, "Which country may the source be?"

"Which side is the east? It's the one over there." Fang Mingyuan said casually.

"You mean Japan?" Yin Zhonglong said in surprise, but he soon understood and said tremblingly, "The United States?" Even Li Jianxi was no longer calm. He did not expect that this financial crisis would actually

It broke out in the United States. Think about how long it has been since the Nasdaq index plummeted? After all, the United States is the world's largest economic power and an important engine for world economic development. Once this engine stalls, it will even reverse the course. What will happen to the world economy?

No one can accurately estimate how heavy the development will be.

"If there is no surprise, this is it. The real estate industry in the United States has developed too rapidly in recent years, and their loan issuance standards are too low. I am worried that if there is any trouble..." Fang Mingyuan sighed lightly.

"In this case, it is even more necessary for China to reach a currency swap agreement with South Korea." Li Jianxi said solemnly. There are many foreign institutional investors in the Korean securities market. If a financial crisis really breaks out in the United States, in order to compensate the parent company

If the losses occur, these foreign-funded institutions are likely to sell Korean assets in exchange for funds and withdraw them from South Korea. This will undoubtedly cause a second blow to the Korean economy!

"So, this time I came to South Korea, I just wanted to... Among the subsidiaries of Samsung Group, should we run a few companies to go public within a year?" Fang Mingyuan said, "In this case, we can have sufficient funds.

To cope with future crises." Samsung Group has been delisted from South Korea's stock market since the Asian financial crisis. After that, although the South Korean government made many overt and covert offers to list several subsidiaries of Samsung Group, they were all rejected.

"Mingyuan, what did you say to Dad and Uncle Yin? Why do I think they are both worried?" Li Xintong leaned on Fang Mingyuan's shoulder and asked curiously. The two were on their way back to their villa at this time.

.

"We talked about the company's development plan for this year. Regarding some of them, my father and Uncle Yin were a little undecided." Fang Mingyuan said with a smile. Although Li Jianxi and Yin Zhonglong did not immediately express their opinions on his proposal, Fang Mingyuan believed

, the result is inevitable.

"A financial crisis may break out in the next few years?" Li Xintong chuckled, "It's normal for Dad and Uncle Yin to be a little skeptical. After all, the global economy is developing rapidly today, and the situation seems to be great, but you pour cold water on them.

"

Fang Mingyuan tightened his hands, letting her nestle tightly in his arms, looked into her eyes and chuckled: "Then do you believe my judgment?"

"Believe! You just said that there will be an earthquake in South Korea tomorrow. I believe it." Li Xintong chuckled and said, "Is this satisfactory, my husband." After saying that, her cheeks were already flushed.

Fang Mingyuan's hand around her waist couldn't help but tighten again, and his eyes looking at Li Xintong were full of tenderness... (To be continued.)

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