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The Young Eagle Spreads Its Wings Chapter 70: Target Peng City

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    Chapter 70 Target Pengcheng

    The trap that Liu Shuangxi laid for Zeng Sanshu was the last period of the Hong Kong exchange rate's free floating period. From 4.600 to the U.S. dollar in March 1978, it reached a record low of 6.97 last year. Just before the implementation of the linked exchange rate system, this  The data will reach an exchange rate low of 9.600.

    This huge short-term fluctuation is, on the surface, caused by Hong Kong people's worries about their future. The stock market crash and other negative factors have shaken public confidence in the Hong Kong dollar, which has led to the continuous depreciation of the Hong Kong dollar.  In fact, in just one year, the depreciation rate of the Hong Kong dollar was as high as 30%. No one would believe this data without the shadow of the British Hong Kong government.  Since the ghost guy wanted to use the hard-earned money of Xiangjiang people to blackmail the Chinese government, Liu Shuangxi would not be polite. When he returned to the hotel, he immediately approached Liu Changtian, a "financial and foreign exchange semi-professional".

    "Master, I just made a bet with them at Li Chaoren's place. You have to help me research this matter. Are those people who speculated in foreign exchange in Japan a few years ago still have contact with you?"

    Liu Changtian¡¯s day was filled with happiness and pain. He said he was happy because he spent a whole day with a beautiful woman, and said he was miserable because he spent a whole day shopping with a beautiful woman.  It stands to reason that he has a pretty good physique. He is much stronger than the average person after practicing martial arts since he was a child. However, after a day of shopping with Han Yanling in the mall, he was stunned to get cramps in his calves.

    "Shuangxi, let's talk about it tomorrow if you have anything to do. I'm really exhausted." Liu Changtian lay on the bed and said without looking back: "I don't know how Yan Ling's small body can be so good at shopping. What fascinates me the most  The strange thing is that she just doesn¡¯t want to buy it, and doesn¡¯t know what she¡¯s trying to do¡­¡±

    "Oh, Yan Ling has been called out this time. If you don't get up immediately and answer my questions, I will tell Aunt Han that you will never do such extremely boring things again. In the future, she will want to  Just go to the mall and find someone else.¡±

    "Good disciple, you can eat as much as you want, but you can't talk nonsense. If you want to spread rumors, I will" As soon as Liu Shuangxi finished speaking, Liu Changtian got up from the bed. After thinking for a long time, he found that  There was really nothing to threaten, so I had to say: "I really don't have many contacts with the specific operators, but Director Yang can be found. He has also been transferred back to China this year. If there is anything, we can wait until we return to the capital to find him. Yes.  Okay, what bet did you just make?"

    Seeing his depressed look, Liu Shuangxi didn't want to bother anymore, so he told him about the bet he had just made with Uncle Zeng at Li Chaoren's house, and promised to take advantage of the current depreciation of the Hong Kong dollar to win the bet.  "Master, you didn't know that the old guy's expression was as if my money had already fallen into his pocket."

    Liu Changtian still believed that he could make 50% profit within half a year. At least five years ago, his own personal experience was enough to explain everything.  However, he still asked worriedly: "Shuangxi, although we made a lot of money through foreign exchange speculation when we were in Japan, can the old men in the family support our operations in Xiangjiang? And finally, this matter  It doesn¡¯t end so easily, does it?¡±

    Liu Shuangxi said firmly: "If the depreciation of the Hong Kong dollar is a normal market behavior, my family may object to us doing this, but there is obviously the shadow of the British government behind this, and these old men will definitely not let anyone point fingers at this. As for the ending.  Well, that¡¯s not something we have to consider. After all, Hong Kong still has more than ten years to live under the governance of the British Hong Kong government.¡±

    After the victory in the Falkland Battle, the British again regarded themselves as the Japanese empire a hundred years ago. They went to the capital to propose "exchanging sovereignty for governance" in an attempt to continue the governance of Hong Kong. As a result, they ran into trouble.  Bag.  At the end of his rope, Qian Lv planned to use the panic of Hong Kong citizens to hijack public opinion. However, Liu Shuangxi knew that the British Hong Kong government still swallowed the bitter fruit it had sown, and finally relied on a linked exchange rate system to stabilize the Hong Kong dollar.

    Although this system maintains the long-term stability of the Hong Kong dollar, its problems are also obvious. First of all, the balance of payments cannot be adjusted through the exchange rate. Due to the implementation of the linked exchange rate, the appreciation or depreciation of the Hong Kong dollar against other currencies is completely controlled by the U.S. dollar against that currency.  Currency exchange rate.  However, the economic environment in Hong Kong is different from that in the United States. If Hong Kong faces an economic impact from overseas or local events such as currency devaluation by competitors or a recession in export markets, it cannot adapt to changes in the environment through exchange rate depreciation.  , thus affecting issues such as foreign trade and international balance of payments.

    The second is the loss of monetary policy autonomy. Hong Kong¡¯s interest rates will follow the pace of U.S. interest rates, both rising and falling. Under the mechanism of the linked exchange rate system, in fact, Hong Kong cannot independently control interest rates.  If Hong Kong cuts interest rates, capital will flow out, putting downward pressure on the Hong Kong dollar.  At this time, the automatic adjustment mechanism operates, and the note-issuing bank tightens the money supply, slowly causing interest rates to rise.  In short, the implementation of the linked exchange rate system will also "link" interest rates. Therefore, it is impossible for Hong Kong to have an independent and targeted monetary policy, which weakens the Hong Kong government's control of the economic cycle.?Adjustability.

    This system also has the problem of imported inflation. Under the linked exchange rate and other fixed exchange rate systems, inflation will spread internationally, which is called imported inflation (imported inflation). The economic size of Hong Kong relative to the United States  It is very small and easily affected by U.S. policies.

    Another problem is the conflict between internal and external goals. In some cases, the external goal (balance of international payments) and the internal goal (control of unemployment and inflation) will conflict due to the linked exchange rate, and the government will face a dilemma.

    In short, since the implementation of the linked exchange rate system, there have been endless discussions and even doubts, especially when economic or fiscal problems arise.  Hong Kong society has proposed various plans to modify the current exchange rate, peg it to other currencies, peg it to the RMB, peg it to a basket of currencies, or even float it freely.  Even if Liu Shuangxi now intends to point out the shortcomings of this system, in the end he has no reasonable solution except to slap the British Hong Kong government on the back.

    In fact, this kind of competition between British capital and Chinese capital is definitely not the first case, and it will not be the last case.  Since Deng Gong's comeback in 1977, there have been many cases such as Li Chaoren's acquisition of Hutchison Whampoa, Shipping King's acquisition of Wharf, and Land's acquisition of the telephone company and Heung Kong Electric.  Various disputes originated from the uncertainty of the political winds. Investors in Hong Kong were in panic all day long during this turmoil. It was not until the signing of the Sino-British Joint Declaration that the market became relatively stable.

    What is happening and what is about to happen is not what Liu Shuangxi is concerned about. He is just a passerby to Xiangjiang, and this city is just a springboard for him. As for the preparation of the company, with the help of Zeng Xiaoxian, the results will soon come true.  .  After finishing all this, Liu Shuangxi suggested to his mother Zhu Wenhua to visit Pengcheng on the north bank of Xiangjiang River, and told her that that was where the development of his group would take off.

    (Continue to update despite the illness, thank you all for your support, please recommend and collect, etc., etc., you know)

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