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Volume 1: Miracle on Qishan Chapter 188: Asian Financial Crisis (4)

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.    On May 17, 1998, a major riot broke out in Indonesia, and almost all banks fell into a run.  ¡ª¡ªPiaotian Literature¡ª¡ªMobile novel site

    This was not a simple riot. It was an operation planned by Indonesian President Suharto secretly instructing the military intelligence department. The goal was to split the domestic opposition forces against him and incite all Muslims to hate the Chinese.  Concentrated around him, the victims were Indonesian Chinese.

    This is Suharto¡¯s consistent strategy. Every time, he chose to sacrifice the Chinese, even though the Chinese who were close to him almost controlled Indonesia¡¯s main national economy.

    "The Chinese are the Jews of Asia. This is Suharto's thinking. It has always been like this. We must use it, but also attack the foundation. We must constantly force the Chinese to give up their Chinese language and customs. If they don't give up, they will be killed or expelled from Indonesia."

    This is the Black May riots in Indonesia. The Indonesian military completely ignored and allowed the rioters to burn Chinese assets, ignored the thugs' robbery of Chinese people and the rape of Chinese prostitutes. More than 5,000 Chinese prostitutes were raped, and more than 1,000 Chinese prostitutes were raped.  The Chinese were burned to death in the business district. They were tied up and burned in Chinese properties. The bank building of Lin Shaoliang, the largest Chinese businessman in Indonesia and the richest man in Indonesia, was also razed to the ground. The soldiers directly destroyed the building with artillery and bombs.

    The Chinese government has been particularly silent on this incident for a long time, but nothing has passed. In 2001, the Chinese navy took the opportunity of going to Thailand to assist in the fight against piracy, and sank an unknown international armed vessel on the grounds of combating pirates and unknown international armed ships.  The Indonesian warships sent to fight against pirates arrested many senior military generals involved in the Black May incident. Later, about two hundred officers involved were arrested. The long-term impact of the incident was finally calmed down and normal diplomacy between the two countries was restored.

    Even so, Yang Shaozong didn't feel relieved.

    He was in Hong Kong, and all the media reports were in front of him. During this period, almost Chinese people around the world were taking various actions to condemn Indonesia. The New York Times in the United States took the lead in fully reporting the matter, and widespread reports around the world followed.

    In the past few days, Yang Shaozong has been in contact with Huo Yingdong and other tycoons from the Chinese Business Association. They have donated money to resettle refugees in places such as Hong Kong and Singapore, and donated money to Chinese business organizations around the world, so that everyone can organize demonstrations and obtain funds through their channels.  Some more special information was released to the world through online media such as The New York Times, U.S. News and Yahoo.

    On June 13, Yang Shaozong arrived in Singapore by plane and accepted an interview with Lianhe Zaobao. His opinion was that all Chinese businessmen and ethnic Chinese in the world should unite to boycott the Indonesian economy. He suggested that a more comprehensive and powerful global Chinese business organization be established in Hong Kong to deal with  Such countries have imposed voluntary economic sanctions. In addition, he does not agree with the International Monetary Fund's continued assistance to countries like Indonesia. The long-term assistance of US$1 billion that China Flag Investment Bank had agreed with the Indonesian government in advance has been interrupted. He personally will not continue to do so.  If you invest a penny in Indonesia, you will not negotiate any cooperation with commercial institutions controlled by the Indonesian government.

    On June 14, Yang Shaozong continued to accept an interview with Yahoo Chinese, saying that Zhongqi Investment Bank was short-selling the Indonesian exchange rate. From an economic perspective, this riot will have a devastating blow to the Indonesian economy. In the next ten years, even  For a longer period of time, the international community will not be able to restore confidence in Indonesia's investment environment.

    Yang Shaozong is not only here, he is actually doing this. In addition to political reasons, it is indeed possible to short-sell on a large scale economically. Zhongqi Investment Bank and Hong Kong Zhongqi sold Indonesian rupiah worth approximately US$20 billion, and through cooperation with Indonesian Chinese businessmen  , lending out the selling of constituent stocks of the Indonesian Composite Index, and at the same time significantly shorting the Indonesian Composite Stock Index.

    This time, not only are hedge funds following behind to make trouble, but there are also large-scale Chinese business capital selling short. Yang Shaozong is undoubtedly the leader here. He has the largest number of short-selling contracts, directly blowing up the exchange rate of the Indonesian rupiah.

    The Indonesian government did not have much foreign exchange to withstand, so it could only allow the exchange rate to plummet, and the stock index also plummeted, all the way to less than 200 points.

    Everyone is selling short, so there is basically not much profit.

    Making money is not important. What is important is to bring about very significant changes in Indonesian politics and force scumbags like Suharto to step down. In fact, Yang Shaozong has spent 20 million US dollars to set up a special fund specifically to operate against Suharto.  The collection of evidence against the Hatto family.

    Yang Shaozong stayed in Singapore for nearly a month, and took time to go to Washington. This was his second trip to the United States and his first trip to Washington. His job was to visit international institutions to impose sanctions on Indonesia and suspend the International Monetary Fund and  All assistance to Indonesia from international financial institutions such as the World Bank.

    What influence can he have in the United States?

    The effect is minimal. However, considering that he is a special capitalist in a special country like China, he holds the title of the richest man in Asia and has a Nobel Prize.At the critical moment, the Hong Kong Monetary Authority must allow him to use the assets of Zhongqi Investment Bank's parent bank to pledge Hong Kong dollars, so that he has enough funds to attack his opponents.

    This night is destined to be a sleepless night.

    Yang Shaozong returned to the Zhongqi Bank Building and sat quietly for a long time in his office on the 48th floor. Others were also there, and everyone gathered together quietly to drink tea, coffee and smoke.

    On this night, Hong Kong Zhongqi International Investment Bank Co., Ltd. will borrow a large amount of funds from its parent bank. The amount of funds is so large that international speculators can¡¯t believe it. At this time, Yang Shaozong finally took out his trump card.

    They drastically withdrew contracts in the foreign exchange and stock markets, cashed out at 13,000 points, and withdrew almost all the funds they could. Hong Kong Zhongqi held US$35.7 billion and HK$175.5 billion.

    Using the U.S. dollars in hand, Hong Kong Zhongqi can borrow a large amount of Hong Kong dollars at any time through Zhongqi Bank and China International Bank. Adding in the funds that Yang Shaozong has borrowed from other Hong Kong tycoons before, Hong Kong Zhongqi can borrow approximately 500 billion Hong Kong dollars.  liquidation.

    Hong Kong Zhongqi pledged its stocks in AOL, Cisco, Google, Yahoo, eBay and other companies to cooperative banking institutions such as UBS, Bank of America and ING, and also borrowed another US$7 billion.

    This 7 billion US dollars will be the winner. No matter how many Hang Seng stock index contracts the opponent sells short, Hong Kong Zhongqi will take as much. As much as the opponent loses, Hong Kong Zhongqi will make as much as the opponent makes. Hong Kong Zhongqi will lose as much as the opponent makes.  .

    What is worrying is that this war will last for 14 days, a full two weeks, and will not end until August 28, 1998, because this day is the final settlement day of the futures index for that month, and the real win or loss will be on  The winner will be decided on this day.

    Maybe, in the end, another force will be needed to join the battle to finally determine the winner.
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