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Text Chapter 798 The full-scale economic crisis in Southeast Asia breaks out!

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    The old man's visit further inspired the national spirit of overseas patriots who are eagerly looking forward to the return of Hong Kong Island, and deepened their understanding of China's "one country, two systems" policy.  They all agreed that the significance of Hong Kong Island's return goes far beyond the return event itself.  The prosperity and development of Hong Kong Island will not only benefit Hong Kong Island, but also benefit China, and will also have a positive impact on the world.

    The people of Hong Kong Island also pay great attention to the elderly coming to Hong Kong. Even where the elderly pass, thousands of Hong Kong Island citizens gather there. Sometimes the sky is not beautiful and it rains heavily.  There was no stopping them from coming, and they chanted the popular slogan "Hello, old man" to express their respect and admiration for the old man, and they were unwilling to leave for a long time in the rain.

    However, at that moment that will go down in history forever and make all the sons and daughters of China excited, the old man did not appear at the handover ceremony of power at the Hong Kong Island Convention and Exhibition Center. Instead, he only watched the Chinese People's Liberation Army military band play through television broadcast at the hotel where he stayed.  The majestic national anthem of the People's Republic of China was played, the Chinese national flag and the Hong Kong Special Administrative Region flag were slowly raised together, and tears of excitement filled the eyes.

    Lin Yu silently accompanied the old man. Looking at the white-haired old man, he felt filled with emotion.

    Lin Yu knew that it was the old man who originally delivered a speech in front of the podium inlaid with the national emblem of the People's Republic of China. It was he who single-handedly created this historic moment that wiped away China's century-old humiliation.  But he has taken a back seat. This moment and glory still belongs to the current general secretary.

    After the handover ceremony of power was completed, the old man quickly returned to the capital.  However, Lin Yu stayed alone, always paying attention to the changes in the turbulent financial markets in Southeast Asia.

    Although Lin Yu was well aware of the various situations of the Asian financial crisis in his previous life.  But in this life, due to his unexpected emergence, various situations have changed to some extent, the most important of which is the "Quantum Fund" that was the culprit of the Asian financial crisis in his previous life, and has now become a pawn in his hands.  Will everything proceed exactly according to the trajectory of the previous life?

    Because Hong Kong Island has just returned to China.  Maintaining the stability of the financial market is not only an economic necessity, but also a political necessity.  If international funds take action against Hong Kong Island, the central government will respond strongly.  It is an inevitable move.

    ¡°Due to historical and practical reasons, people in the domestic financial community have a far less thorough understanding of the international financial situation than experts from Western countries, especially due to years of isolation and lack of practical operational experience.  This is difficult to make up for in the short term.  And since Lin Yu was able to create a situation like this for the Lin Group when he was still young.  The Lin Group started its business in financial investment and has achieved remarkable results, attracting worldwide attention.  Presumably, his extremely high talent and ability in this area are astonishing and unmatched by others.  The old man had never regarded Lin Yu as an ordinary person, and it was only natural that he should consult him on this matter.

    Currency wars are never more merciful than sword wars.  distinguished.  It's just whether killing people with blood or killing people without blood, the results are exactly the same.

    In late October, international speculators moved to Hong Kong Island, the international financial center.  The target is pointed at Hong Kong Island's linked exchange rate system.  The Taiwan authorities suddenly abandoned the exchange rate of the New Taiwan dollar, which depreciated by 3.46% in one day, increasing the pressure on the Hong Kong dollar and the Hong Kong stock market.  On October 23, the Hang Seng Index in Hong Kong dropped sharply. On the 28th, it fell by . points, falling below the 9,000-point mark.  Faced with the fierce attack by international financial speculators, the Hong Kong SAR government reiterated that it would not change the current exchange rate system, and the Hang Seng Index rose to reach the 10,000-point mark again.  Then, mid-November.  A financial crisis also broke out in South Korea in East Asia. On the 17th, the exchange rate of the Korean won against the US dollar fell to a record 1008:1. On the 21st, the South Korean government had to seek help from the International Monetary Fund and temporarily controlled the crisis.  But on December 13, the exchange rate of the Korean won against the U.S. dollar dropped again. The Korean won crisis also impacted the Japanese financial industry, which has a large amount of investment in South Korea.  In the second half of 1997, a series of Japanese banks and securities companies went bankrupt.

    From this.  The Southeast Asian financial turmoil evolved into the Asian financial crisis. The collapse of the monetary systems and stock markets of Southeast Asian countries, as well as the resulting massive inflow of foreign capital and huge pressure on domestic inflation, cast a shadow over the economic development of the region.  A bank run triggered a wave of bank runs in Thailand, squeezing out 56 banks, causing the Thai baht to depreciate by 60% and the stock market to plummet by 70%.  The financial turmoil caused by Thailand has spread to northern Asia and even Russia. Malaysia, Indonesia, Singapore, Japan, Hong Kong Island, and South Korea have all been hit hard. The assets of the people in these countries and regions have shrunk greatly, and the wealth created by the people of Asia over the years has been greatly reduced.  Devaluation, European and American countries took advantage of the depreciation of Asian currencies and the collapse of the stock market to merge with Asian companies and purchase real estate, easily acquiring hundreds of percent of the property at a price of 1%.

    The financial crisis in Southeast Asia has plunged the social order of Asian countries into chaos.  Due to bank failures, the financial industrycollapse, leading to economic paralysis.  The economic recession has intensified domestic conflicts.  During the financial crisis in Southeast Asia, Indonesia, Malaysia and other countries experienced social turmoil, disunity and disorder.  The financial crisis in Southeast Asia has destabilized state power.  After the outbreak of the Asian financial crisis, people's trust in the government declined due to social unrest and economic depression.  Opposition parties and opposition parties accused the ruling party one after another. As a result, the government of Thailand was overthrown, the Suharto government of Indonesia was overthrown, Ryutaro Hashimoto of Japan stepped down, and Russia had six prime ministers in one year.  Political instability has undermined the favorable environment for economic growth in Asia.  Previously, the rapid economic growth of Asian countries was due to the stable political and economic environment. Later, the financial crisis destroyed this stability, triggered social fluctuations, and almost endangered the national security of each country.

    This Asian financial crisis is another major event that has a profound impact on the world economy after the great crisis of the 1930s.  This financial crisis reflects the serious flaws in the financial systems of the world and various countries, including many relatively mature financial systems and economic operating methods that are considered to have been selected through historical development. Many of them have been exposed in this financial crisis.  The problem has brought the bustling Southeast Asia into an era of desolation and desolation, triggering turmoil in the global capital market. The wide spread, speed and depth of the damage have shocked the world.

    During the boom period of the 1990s, Asia was recognized by the world as a huge emerging market in the new millennium.  These countries or regions experienced rapid economic growth from the 1960s to the 1980s, but before that they were only developing countries or regions based on agriculture and light industry.  They took advantage of the opportunity of developed countries in the West to transfer labor-intensive industries to developing countries in China, attracted foreign capital and technology, used local labor advantages to adjust their economic development strategies in a timely manner, and quickly embarked on the path of developed countries or regions, becoming the leading players in Northeast and Southeast Asia.  One of the economic locomotives.

    However, this development model leaves many drawbacks, and over-reliance on international capital has become a hidden economic worry.  At that time, Thailand, like many Asian countries, began to borrow large amounts of short- and medium-term foreign loans from overseas banks and financial institutions, and its foreign debt once reached US$79 billion.  Beneath a semblance of prosperity, Thailand has built many gleaming, empty office towers.  South Korea, one of the Four Asian Tigers, has established an annual production capacity of 5 million cars, which was 10 times the capacity of South Korea's domestic automobile market at that time.

    This hidden danger has been pointed out by knowledgeable people a few years ago, but the vast majority of people have been intoxicated by this superficial prosperity and believe that it is just unfounded worries.  The rapid development over the past ten years has also made more people forget about it.  Under this background, Lin Yu was able to come up with such an ambitious plan to the point, which left Jason in awe.

    If the situation predicted in the plan comes true, according to incomplete statistics, the profit from this investment will far exceed the sum of the previous two attacks on the pound and Mexico.  Of course, the damage caused to the entire Southeast Asia and even all of Asia is unprecedented.  Just looking at this plan, Jason could even imagine the horrific scene of mourning people everywhere after the storm.

    ?? And the losses suffered by countries including Thailand are far from losses of tens of billions of dollars, and almost the collapse of the entire financial market and order.  The development and struggle of more than ten years were wasted overnight, all made into a wedding dress for others.

    However, Lin Yu didn¡¯t feel uncomfortable or guilty at all about this, because he really didn¡¯t have a good impression of Malaysia, Singapore and other countries with Southeast Asian governments.  On weekdays, relying on the rapid economic development and the prosperity of the people's lives, they are dizzy, arrogant, and somewhat awesome. At critical moments, under the instruction of the United States, they jump out and clamor for more obstruction from the Chinese government. This is the worst thing.  It is very necessary to take the opportunity to teach them a lesson. How satisfying is it to let the wealth they have accumulated for more than ten years be wiped out overnight?

    However, for Thailand and Indonesia, according to Lin Yu's plan, it is enough to ensure that Indonesia's economy will not cause unrest among the people. To be more precise, Southeast Asia is just a layout of Lin Yu. Lin Yu will rely on this Southeast Asian economic crisis to bring Southeast Asia to the forefront.  Completely included in his own sphere of influence.  If Southeast Asia is captured, then Lin Yu's sphere of influence will include Europe, Russia and Southeast Asia. Coupled with the influence of China's Lin family on China, Lin Yu will be able to influence three-fifths of the world, including Southeast Asia.  Together with China and Russia, they will form an encirclement around other parts of Asia. In this case, it is only a matter of time before these places will be included in Lin Yu's sphere of influence.  (To be continued. If you like this work, you are welcome to come to Qidian to vote for recommendations and monthly votes. Your support is my biggest motivation.).rt!  ~!

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