The Rebirth of the Financial Hegemon

Vol 3 Chapter 121: Damn Little Rb

While Zhao Jiangchuan was praying for the Thai people, the Governor of the Bank of Thailand, Sonny, was also praying to God for Thailand.

Pray to the Buddha to bless Thailand through this crisis.

But Sonny found that it was no use praying to anyone now.

He had just received the most unbelievable news.

Japanese, to divest.

Thailand, in the past two decades of rapid development, is known as the greatest miracle in Asia.

The head of the Four Little Tigers.

Since 1976, Thailand’s financial industry has grown rapidly.

Then, Thailand opened up all barriers and accepted unlimited capital from all over the world.

Thailand’s economy has seen amazing development.

While creating a lot of tax revenue, it also brings a lot of income to Thai residents.

With the development of the economy, the tourism industry has also ushered in a booming opportunity.

Everything is so exciting.

But before that, no one in Thailand noticed that the influx of foreign capital in Thailand was actually very single.

Among overseas investors flowing into Thailand, more than 50% of their assets are from Japan.

Among them, Japanese multinational investors such as Mitsubishi Group, Toyota Motor Corporation under the Mitsui Group, Honda Corporation, Suzuki Motor, and Sumitomo Trading Company are the main ones.

Thailand is the largest rubber producer in Asia.

Sumitomo Corporation is Asia’s largest automobile tire manufacturing company.

Ten years ago, after Japan’s inward investment strategy was adjusted to foreign investment, Sumitomo Trading Company built a large number of tire manufacturing plants in Thailand.

The Mitsubishi Group, Toyota Motor, and Suzuki Motor have invested in a number of automobile production and processing bases in Thailand.

From parts to car assembly.

All Mitsubishi cars are made in Thailand.

The cooperation between Sumitomo and these automobile manufacturing companies has benefited from each other. With low labor and high-quality raw materials, these Japanese-funded enterprises have almost monopolized most of the motorcycle and automobile markets in Asia.

on the streets of Thailand.

Motorcycles, almost all Honda and Suzuki Nissan.

Cars are also dominated by Japanese cars.

But now, these Japanese companies are suddenly withdrawing their capital.

They have to exchange their Thai baht for Japanese yen or U.S. dollars to leave Thailand.

Sonny was completely stunned after hearing the news.

It was only then that he realized that the biggest crisis in Thailand was not a run on the people at all.

With the proportion of Japanese investment in Thailand, once a large-scale withdrawal of capital will immediately detonate all crises in Thailand.

Workers are largely unemployed.

Foreign exchange reserves will be hit hard.

Corporate taxes will be severely reduced.

The consequential effect will be a fatal blow to Thailand.

Blocking the news, be sure to block the news that the Japanese are about to withdraw their capital.

Sonny is no less than a central banker.

When he realized the consequences of the Japanese withdrawal of capital, he immediately reported to the Prime Minister’s Office.

“General, I just received news that Japanese companies investing in the country will withdraw their capital at all costs. Now we must block the news immediately, and then we will talk to these Japanese…”

“Okay, I’ll make arrangements right away.”

Sonny’s response was quick, and Prime Minister Chavalit was also very cooperative.

But it was still too late.

Hongkong.

Hong Kong TV Finance Channel.

“Yesterday morning, an unnamed source said that in the near future, Japanese investors in Thailand have been selling assets on a large scale.

Judging from the current situation in Thailand, it is likely that these Japanese companies are preparing to withdraw their capital from Thailand.

At present, we have received news from Thailand that the Mitsubishi Motors plant in Pattaya has been suspended for three days, and the Chiang Mai branch of Sumitomo Rubber Group has also been suspended for more than two days.

From a variety of information analysis, the news of the Japanese consortium’s withdrawal from Thailand is not false.

These are the live photos we took locally from Thailand. ”

With the words of the TV host, it landed.

A set of enlarged photos appeared on the television for a few seconds.

It can be seen in the photos that a large number of workers gathered at the gates of some local Japanese enterprises.

They held banners in their hands demanding that businesses resume production.

Some are holding banners demanding that companies pay severance compensation.

After the picture, the TV host spoke again.

“What impact will the withdrawal of Japanese companies from Thailand bring to the economy of Thailand and Hong Kong? Now let’s listen to the professional analysis of Mr. Li Dapao, chief analyst of Jushi Capital.”

The screen flashed and switched to Li Dabao, who was in a suit and leather shoes, with a pair of gold-rimmed glasses hanging on the bridge of his nose.

He first showed a self-consciously handsome smile, then straightened the corner of his clothes and said.

“From our analysis of Jushi Capital, in Thailand’s cross-border investment, Japan’s inflow of funds accounted for more than 50%. And Thailand’s largest debt also comes from Japan.

If a large number of Japanese companies withdraw their capital, it will bring unbearable damage to the Thai economy.

If the Thai authorities do not respond properly, look at the historical trajectories of other countries.

Unemployment of workers and bank failures are inevitable.

It may even trigger a systemic financial crisis in Thailand.

The stock market plummeted, the real estate plummeted, the bond plummeted, and the large-scale outflow of foreign exchange reserves.

And once Thailand’s foreign exchange reserves are exhausted, the fall of the baht is inevitable.

A financial crisis is a disaster for any country.

In the financial crisis, ordinary people always bear the heavy and catastrophic consequences.

Soaring prices, hunger and cold.

I sincerely hope that the Thai government can handle this matter in a timely and correct manner, otherwise the Thai people will fall into the disaster that everyone is least willing to face.

The people are innocent. ”

On the stage, Li Dabao was in high spirits and explained the impact of Japan’s withdrawal of capital on Thailand.

When he got to the back, he had a mournful and pitiful death on his face.

His grief seemed to resonate with the host.

After Li Dapao’s language fell behind, the host said sadly.

“Hopefully Thailand can get through this crisis safely, let’s pray for them.”

After three seconds of silence.

The host spoke again.

“What kind of impact will the current situation in Thailand have on us in Hong Kong?”

“From our analysis, the situation in Thailand will boost Hong Kong’s economy. Hong Kong, an Asian financial center, has an unshakable economic position in the world. To a certain extent, the liquidity of the Hong Kong dollar has been released.

Large-scale capital outflows from Thailand are likely to divert some of the capital into Hong Kong.

Naturally, it will boost Hong Kong’s economy to greater heights. ”

“…”

After the program, it is the daily advertising stage.

An international action star’s portrait of a dragon jumped onto the TV screen.

“For wealth management, I will choose Xinglong No. 1 from Standard Chartered Bank. The annualized income of 13% is unbelievable. What are you waiting for!”

……

Bangkok, Bank of Thailand headquarters.

Sonny slammed his fist on the table and cursed.

“Damn, **** little Japan, **** Boulder Capital, **** Li Cannon, you bastards.”

The hatred in Sonny’s heart was like a surging river.

In the past, Sonny, like many others, was completely unaware of the impact Japanese investment would have on the Thai economy.

But now, when Thailand encountered a crisis, Japan’s huge investment immediately became the hammer that really overwhelmed Thailand.

Now is the most difficult time for Thailand, but the Japanese have to withdraw their funds at any cost.

This is simply downfall.

Even more abhorrent is the **** stick of Boulder Capital.

From Sonny’s point of view, it is impossible to see what role Jushi Capital is playing in the current situation in Thailand.

Every time, as long as the people from Jushi Capital jump out, they are targeting Thailand and the Thai baht.

What’s even worse is to play a hypocritical pity and prayer.

What does it mean that the people are innocent.

That does not mean that the actions of the Thai government have caused the current situation.

A small investment company dares to point fingers at a country’s government.

It’s simply invisible.

If you really care about Thailand and the Thai people, you shouldn’t make these things public.

damn it.

These vampires, capitalists.

Sonny held his breath and kept cursing in his heart.

But in the end, he sighed helplessly.

Then, a self-deprecating smile appeared on Sonny’s face.

With the information he has, he knows more than many people.

Before this incident, domestic capital had been outflowing on a large scale.

And the source of those capital outflows made him only vent his anger elsewhere.

“Ring bell bell…”

On the table, the annoying phone rang again.

Sonny clenched his fist and had to let it go.

In his place, do his thing.

Even if he had a hunch, he still had to continue to do what he should do.

But for no reason.

He suddenly sounded a word from Hua Guo.

God’s sin, especially can survive.

Self-inflicted sin, can’t live!

“President, it’s not good. The US dollar cash in the Shatong Sub-branch has run out. Now the depositor’s door is already hitting the bank’s door. Please transfer the funds as soon as possible.”

“Okay, I see. I’ll transfer $20 million right away.”

“No, at least fifty million. The crowd outside has already lined up on the opposite street.”

“Okay. I see. I’ll make arrangements as soon as possible.”

After hanging up the phone.

Sonny closed his eyes weakly.

The building was about to collapse, and he already felt that he was powerless to support it.

“Ring bell bell…”

Before Sonny could rest for a minute, the red phone rang again.

“President, the Chiang Mai branch is in a hurry. A large number of people are lining up to attack the bank. Now we urgently need 200 million US dollars for support. Please arrange it as soon as possible.”

then.

The Pattaya branch is urgent, the Phuket City branch is urgent, and the Chiang Rai branch is urgent.

After the major media revealed that Japanese companies were about to withdraw their capital, banks in all regions of Thailand were all caught up in a public run frenzy.

Countless residents are scrambling to think about exchanging their Thai baht for dollars.

Bangkok.

Bank of Thailand Head Office.

In the hall downstairs, the crowd lined up in a long line with no end in sight.

Almost all of them have large sums of Thai baht in their hands.

Some, it is holding a passbook or bank card.

These people are all Thai people who rushed to the bank to exchange money.

suddenly.

The long line of people fried the pot.

I don’t know who suddenly shouted.

“The bank is out of money, and our money is going to waste paper.”

This cry was like a giant thunder thrown from the ground.

No one is willing to turn the wealth of their whole life into waste paper.

With this shout, the crowd who were still waiting in line began to storm the door of the bank like crazy.

The security guard of the bank has long been pushed to where.

Cries, shouts.

A mess.

Sonny couldn’t sit still in the office.

He stood by the fence on the third floor of the bank and directed the scene in person.

“Kan, go get the loudspeaker and calm the people. Tony, mobilize the cash to the scene immediately.”

Sonny’s assistants lead the way.

Just before Sonny could breathe for a moment, someone rushed over in a panic.

“Governor, there are changes in the spot market and the forward foreign exchange market, you should go and take a look.”

Sonny’s eyes closed weakly.

Then, a kind of dizziness made his body panic a few times, and it seemed that he would faint at any moment.

The head of the marketing department who came to call him was taken aback.

“Boss, are you alright?”

Sonny held on to the railing for thirty seconds before speaking with difficulty.

“Fortunately. Do your best to take over the market’s selling, and the forward foreign exchange market defense line must maintain the price of 26.”

“But…but we’re running out of money.”

“There are many.”

“Less than eight billion dollars.”

Sonny’s heart sank.

Eight billion dollars, it’s okay to say in normal times.

However, with the current chaotic situation, I’m afraid it won’t last long at all.

The powerlessness made Sonny almost faint.

He tried to hold on to the railing to force his composure.

“Don’t panic, as long as you can appease the emotions of the people, maybe we still have a chance. You can do as I say now and do your best to take over the selling in the market.”

Sonny’s face was calm.

But the beating muscles on his face deeply betrayed his heart.

The people in the marketing department didn’t dare to say anything, they turned around and walked away.

Just at the moment when he turned his head, the person’s tears almost fell.

As someone who has been with Sonny for more than ten years, how could he not see Sonny’s weakness and exhaustion.

He’s never seen Sonny go down like this day~www.readwn.com~ Everyone line up, don’t panic. We have enough dollars, don’t worry. Look, the cash truck outside has arrived. It was full of dollars, and everyone lined up to come one by one. ”

“Don’t panic, don’t worry…”

Chang Kuan, deputy governor of the Bank of Thailand, shouted over and over again with a loudspeaker in person.

Under the comfort of his magnetic voice, the mood of the people who hit the bank gradually stabilized.

Of course, it may also be because the public saw boxes of dollars being carried out of the cash trucks.

All in all, the panicked crowd gradually calmed down.

Seeing that the situation had improved, Kuan wiped the sweat from his forehead, put down his horn, and walked over to Sonny.

As the second-in-command of the bank, Kuan, like Sonny, knows exactly what kind of bad situation Thailand is currently facing.

But now, it’s too late to say anything.

The only thing they can do is try their best to protect the Thai baht’s last line of defense.

To keep the exchange rate unaffected, you need enough dollars as support.

But now the central bank’s reserves, I’m afraid it won’t last long.

“Sonny, why don’t we try to temporarily borrow some funds from other banks as a rescue.”

“Kan, do you think those foreigners will help us with our current situation?”

“But what if you don’t try, maybe there will be or maybe, this is our last hope.”

Sonny smiled self-deprecatingly.

Now, even the allies of Hong Kong, Malaysia and Singapore are afraid to help Thailand.

Who else will help Thailand get through this difficult time?

Forget it, let him.

“Okay then, you go try it out, I’ll go to the marketing department first.”

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