Wealth

Fortune Color Chapter 455 New Opportunities Brought by the Fall

1997 was a very dramatic year. The most popular movie on the ball is "Titanic" shot by Lywood. The world's largest luxury passenger ship that never sinks in the early twentieth century. In the elegant musical accompaniment and one after another panic screams sank to the bottom of the North Atlantic Ocean. Sinking together. There is also the love between the young wandering painter Jack and the noble lady Rose.

When the Chinese audience walked out of the theater with mixed feelings. In the business world. The tragedy is unfolding. Sadness is like one.

The Asian financial turmoil began in the summer. It took more than four months. It has had a significant impact on Asian countries and all industries.

The properties of the middle class in the Philippines, Malaysia, and Indonesia have shrunk by 50%, 61% and 37%, respectively. Resident assets in Hong Kong, Singapore and China fell 44%. Forty-three and forty-one percent.

When the storm swept through Thailand. "New York Times" columnist Mas Friedman happens to be in Thailand. later. He described the scene at that time with lingering fears in the book "The World Is Flat", which was best-selling. The Thai government announced the closure of 58 major financial institutions. Overnight. Those private bankers went bankrupt. He drove to A Su Street in Bangkok to attend a party. This is Wall Street in Thailand. Most of the failed financial institutions are here.

When his car slowed through these bankrupt businesses. Every family. The driver murmured to himself. It collapsed-collapsed-collapsed -. These Thai banks became the first dominoes in the first global financial crisis of the new era of globalization.

Even the most up-to-date countries in Asia. Nor is it immune.

in Korea. The South Korean won under attack depreciated by 50% in more than two miles. The national economy is almost on the verge of collapse. The South Korean government does not refuse to request emergency assistance from the United States, Japan and the International Monetary Fund. The loan amount was a global record of 55 billion U.S. dollars. And was forced to promise to implement a rigorous economic stabilization plan and reduce economic growth. Economic autonomy was once lost.

The South Korean government has issued a belt-tightening policy to all civil servants, requiring them to deposit at least 10% of their salary in the bank. The people donated the gold and silver jewelry at home. In the storm. South Korea’s unemployment rate is as high as 11%. South Korean companies have suffered at least 30,000 won in exchange losses. The repayment of the principal and interest of the debt increased by 4 trillion won.

Many large companies in South Korea have declared bankruptcy and are in desperation. Among them was the Daewoo Group, which was regarded as the target by Chinese companies in previous years, when the storm swept through. In fact, Zhongyu has been in rapid expansion and has already been heavily indebted. The company's borrowing funds have reached a scale of 20 billion U.S. dollars.

Face the crisis. Korea Yu Group has adopted a series of contraction plans but at the same time doubled its bet on the automotive business. Relying on the large-scale high-yield bonds and commercial paper to raise short-term debt funds of 13.5 billion U.S. dollars, Ssangyong Motor and Samsung Motor have been taken over. And continue to advance the strategy of its international automobile giant.

By the end of the year. Daewoo's lending bank refused to make further additional payments. Two years later, the debtor of 80 billion U.S. dollars finally declared bankruptcy.

In Japan. Although the yen was not directly attacked. But the turbulent austerity effect quickly spread to all industries. September 18th. Bahan, a Ming enterprise in the retail industry, went bankrupt.

This is a legendary enterprise that Chinese consumers are very familiar with. Its founder, Wada Kazu, is a traditional Japanese woman who started doing child labor at the age of ten. Started by running a small shop of fruits and vegetables. After 40 years, it has developed into a large multinational company with annual sales of 5 billion U.S. dollars and 400 department stores and cities in the world. The Japanese TV series "Oshin", which was filmed as a prototype of life, once created the highest ratings record in China.

At the end of 1995. When the No.1 Eight Friends of Shanghai opened. A total of 1.07 million customers poured in that day and set the Guinness World Record.

The Asian financial turmoil takes turns in the neighboring countries in China. The tragic sight was so terrifying. Financial capitalism and globalization have shown a fierce and powerful destructive side. This will naturally affect China's industrial economy and people's mentality. In the panic of global stock markets. The Chinese stock market, which was quite active in the past, also fell into a downturn. The consumer market is even more sluggish.

After several years of macro adjustments. Inflationary pressures are gradually released. The inflation rate has dropped to almost zero, but consumption has been over-the scene has appeared at the same time. According to the report of the National Bureau of Statistics. By the middle of this year, the total output value of the country's industrial inventories exceeded 3 trillion yuan. There has been a structural surplus. Over 90% of industrial products are in oversupply.

June. The Ministry of Foreign Trade and Economic Cooperation of the Ministry of Economy, Trade and Internal Trade did not jointly set up the National Stock Commodity Adjustment Center. In order to increase the circulation of corporate commodities.

Sick financial team. In addition to lending two hundred to the Hong Kong Monetary Authority to support the Hong Kong dollar. The gains on the Hang Seng Index are quite good. Soros and others were caught off guard. He didn't expect Fan Wubing to go short in advance. The stock market fell sharply. Make them confused. The Hang Seng Index dropped directly from 18,000 to 9,000. Fan Wuyao then used a huge amount of money that was profitable from various markets. A full-scale bargaining on the Hong Kong stock market. Slowly heating up Hong Kong stocks. Finally stabilized and stopped above 13,000.

all in all. Speculators suffered heavy losses. Although the loss of investors is not small. But overall it is under this kind of global stock. It's quite affordable.

Hong Kong's financial management authorities cooperate closely with Fan Wuyi. One is to use huge foreign exchange reserves to absorb Hong Kong dollars. The second is to increase interest rates and tighten money. After some confrontation. The stock stopped its continuous decline and began to soar strongly. Mainly with the support of the government inside. There are Chinese and foreign funds entering the market. Twenty-four red-chip listed companies repurchased shares from the market. Promote the market to rise. China Telecom has returned to the level above the IPO price. It also produced a certain stimulus. Make red-chip state-owned enterprises breathe and rebound. In addition, interest rate cuts in the motherland have also become the subject of the market's upward trend. These factors caused the Hang Seng Index to rebound sharply.

Of course. Fan Wuyi’s capital for entering the market is huge. He almost absorbed all the high-performing stocks in the Hong Kong stock market at a low level. Under the strong rebound. The exchange rate of the Hong Kong dollar has also returned to stability.

To say that Fan Wuyi is more constructive than destructive to Hong Kong stocks. His means in several countries in Southeast Asia. That's pretty tough. Anyway, Soros's Quantum Fund is in the dark. It is too silly and naive not to go fishing in troubled waters and enjoy their achievements. Especially the action in South Korea. It has made a lot of money. Because of the depression brought to him by the sticks before. Swept away long ago.

So that Fan Wu was very sick for a while. When I saw the Koreans, they all smiled and were very friendly. Without him. These are all fat sheep walking upright in his eyes.

At the beginning, I was just playing the autumn wind in Thailand. Little Thailand does not have much oil and water to fish. But South Korea is different. Economic strength is good after all. The so-called shallow water is the king. The water depth is overwhelming. South Korea’s water is comparable to Thailand’s. Naturally it is much deeper.

The Asian financial turmoil hit. Another far-reaching influence brought to the Chinese corporate revolution is. It completely shattered the film on the corporate model of the Japan-Korea consortium. The famous South Korean consortium that fell during the financial turmoil also includes Han Bao, the 14th largest enterprise and the second largest steel company in South Korea. Jinro, the largest brewer of the nineteenth largest company. The eight largest companies are Kia. Halla Group, the twelfth largest enterprise. The second and fourth largest company Sanmei Group. And the 34th largest enterprise Dailong Group.

In particular, the predicament of the Daewoo Group, which is regarded as an imitator, makes decision-making and rethink the cultivation of large enterprises.

The strategy of "Grasping the Big", which was formed just last year, has changed its course.

At that time, the thinking of "grasping the big" was. Dominated by the state. Focus on supporting a number of advantageous companies to develop into a consortium model. Make it a giant company that has international competitiveness and represents China's strength.

However, the vulnerability exposed by the Japanese and South Korean consortium in the financial turmoil. Let the central government completely lose confidence in this path. Even companies like Daewoo cannot resist the attacks of international financial capital. So can Chinese Daewoo-like companies escape this fate?

So ~www.wuxiamtl.com~ a new strategy of retreating from the country and advancing by the people appeared. The basic idea is. State-owned capital has largely withdrawn from the field of perfect competition. Experts suggest that state-owned enterprises should resolutely withdraw from competitive industries. At the same time, it has a strong monopoly pattern in the upstream energy industry. These industries include steel, energy, automobiles, aviation, telecommunications, power banks, and insurance media. Large-scale machinery and military industry, etc.

In these areas. The government will do its best to repel the struggle between the people and international capital. Ensuring the existing interests of state-owned enterprises by strengthening monopoly. As the owner of state capital. Its role is not to weaken but to strengthen. certainly. One more happier thing is Fan Heng's 15th National Congress held in September. Finally entered the Politburo. He became a member of the Politburo at the age of fifty-six.

Although Fan Hyung entered the Politburo at this age, he was very young. But in comparison. Still relatively young. If there is nothing unexpected. There is no problem in staying in this position for ten years.

The only problem is. After Fan Heng became a member of the Politburo. Still staying in the position of governor of Southern Province. This question is a bit weird. It seems that for so many years. I have never had this condition before

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