Over time, the signs of overheating of economies in Southeast Asian countries have become more prominent

The central banks of famous countries have adopted the method of continuously increasing bank interest rates to reduce inflation, but this method also provides many speculative opportunities. Even the banking industry itself is borrowing foreign currencies such as US dollars, yen, marks, etc., speculating on foreign currencies, and joining the ranks of speculators.

In this way, the serious consequence is that the short-term foreign debt of banks in various countries has increased dramatically. Once foreign hot money flows rapidly into the financial markets in various countries, it will lead to painful and substantial shocks.

Although central banks in Southeast Asian countries have also realized the seriousness of this problem, they seem to be a little reluctant but insufficient in the face of open liberalized markets. Among them, Thailand is the most serious. Because Thailand had the highest degree of liberalization in Southeast Asian countries at that time, Thai plants kept a close eye on the US dollar and capital was free from entering and leaving. Thailand's economy had the most bubbles, and Thai banks moved a large amount of US dollar loans inflows from foreign countries into the real estate industry, causing serious imbalance in supply and demand, which led to a large number of bad debts, bad debts, and asset quality in the banking industry.

In the first half of this year, the bad debts in Thailand's banking industry were estimated to be as high as 31 billion to 35 billion US dollars. In addition, the unreasonable borrowing structure has made the Thai banking industry even worse. Ninety-half% of the overseas loans in Thailand's banking industry are short-term loans in less than a year.

In March this year, when the Central Bank of Thailand announced that nine domestic financial companies and one housing loan company had problems with low asset quality and insufficient working capital, Soros believed that the once-in-a-lifetime opportunity had come.

Soros and other arbitrage funds began to sell the Thai baht in large quantities, and the Thai foreign exchange market immediately surged and turbulent. The Thai baht fell all the way, and within two months, it fell to a low of 26.7 baht against one dollar.

At the critical moment, the Central Bank of Thailand took various emergency measures, using US$12 billion in foreign exchange to buy Thai baht, raising overnight lending rates, and limiting the lending and lending behavior of its own banks. These powerful measures have caused Soros' transaction costs to rise sharply, and he lost US$300 million in a row.

However, Soros had confidence in his original value theory and insisted on his point of view, not only did he not close his original position, but he was even continuing to increase his position.

The loss of 300 million yuan could not scare Soros away at all. He believed that even if Thailand tried all its strength, it would not be able to withstand his impact. He was determined to win the Thai baht.

What's more funny is that Soros actually came to Fan Wubing's place in order to raise funds.

Fan Wu's profits in the Hong Kong stock market were also huge. He took a ride-sharing ride. However, Qin Rushan's operation in the stock market was also quite successful, especially with the support of the international financial management team under Fan Wubing. He was confident and supported by 10 billion US dollars in funding. This time he made a lot of profits in the Hong Kong stock market. Fan Wubing's capital in the Hong Kong stock market has become 15 billion US dollars and is still continuing to climb along with this slow bull.

Although he had withdrawn 4 billion US dollars as agreed, his funds in Hong Kong stocks not only did not decrease but increased, which made the Monetary Authority a little embarrassed.

For this reason, Hong Kong also sent personnel to visit Fan Wubing and asked him to speed up the withdrawal of investment.

Fan Wubing's answer was that he could only do what he wanted. Otherwise, it would cause severe turbulence in the Hong Kong stock market. It would probably make international hot money feel an opportunity to rush into the ground.

The Hong Kong government has also carefully considered this explanation. It is believed that Fan Wubing’s reason is acceptable because such a huge amount of funds are dormant in the Hong Kong stock market. Everyone is not at ease, especially those local Hong Kong forces. They are even more eager for Fan Wubing to leave his territory early and go to other places to make trouble.

Therefore, the Hong Kong government hopes that the disaster will flow. At present, international speculators are fighting around the Thai baht, so some people have put forward this idea, hoping to lead Fan Wubing to the Thai market.

Someone had some contact with Soros' Quantum Fund and told him that Fan's Investment Group is launching the Hong Kong stock market, holding billions of dollars that may exceed tens of billions of dollars.

Soros was short of chips at this time. When he heard that Fan Wubing had so much idle funds in his hands, he immediately contacted Fan's Investment Group through relationships like a wolfdog smelling the fragrance of bones, hoping to meet with Fan Wubing.

Fan Wubing hesitated about Soros's meeting request. He didn't really want to meet with Soros. This guy is stubborn and extremely stern. He has nothing good to talk about when he comes into contact with him. Everyone's only topic is to borrow money to pay back, so it's better not to meet him than to meet him.

However, Soros is very interested in Fan Wubing. In addition to wanting to borrow money, he really wants to meet Fan Wubing. After all, people in the circle feel that this economic prodigy with a dragon is mysterious.

"Then let this mystery continue." Fan Wubing said to the person who was passing the message.

Although Soros got two batches of US$10 billion

But I didn’t see Fan Wubing himself, so I can’t say it’s a pity. The good relationship is very good. Now there are enough shells and I can enter Thailand and fight the Thai baht again.

In late June, Soros raised more huge funds and launched a fierce attack on the Thai Iron again. The major exchanges were in chaos, and the Thai baht fell sharply, and the traders sold the Thai baht wildly.

The Thai government used 30 billion US dollars of foreign exchange reserves and 15 billion US dollars of international loans to turn the tide. But this mere $45 billion US dollars of funds is like a drop in the bucket compared to the huge amount of international hot money, and it is useless.

During this period, Fan Wubing's reservoir was built, and four sub-stores have been completed. By the end of the year, it would be unquestionable to complete two sub-stores.

Fan Heng's work in Jiangnan Province has also been going well. At the beginning of the year, he has speeded up the pilot work of county-specific economics. At this time, he has seen results. Whether it is the planting of some special crops for export or the development of county-specific tourism economy with Jiangnan style, he has achieved rapid development with the support of Fan Wubing.

At this time, just piloting the cultivation of specialty crops in 26 counties can increase the economic income of the entire Jiangnan Province by more than 6 billion yuan this year, which is a significant breakthrough.

The importance of this matter is not only to improve the economic conditions of some agricultural mountainous counties, but also to let everyone see a clear problem. It is not only that comprehensive industrialization can achieve economic development, and even small peasant economy still has advantages.

Therefore, there are also many discussions in the province. All cities and counties hope to plan the cultivation of characteristic crops within their administrative regions in the second half of the year and follow the practices of pilot counties and cities.

However, the province's attitude is very firm. It is OK to develop characteristic planting industries, but they cannot develop blindly. They must develop according to scientific settings. In short, it must conform to the scientific outlook on development.

Past experience is enough to show that no matter how good an example is, things will become distorted once everyone rushes forward. Therefore, Jiangnan Province’s decision is to divide the administrative regions in the province into several economic crop cooperation zones according to regional characteristics, breaking the constraints of administrative divisions and realizing a unified cooperation model based on resource characteristics. Then, adapting to local conditions within each economic zone to achieve priority development of advantageous resources in its own region.

This way, the benefits can be foreseen, which will not cause disorderly development and vicious competition, ensure the formation of large-scale industries, form a certain scale of market supply, and have a say in price when exporting to the outside world.

Regarding the export of crops, the choice of pricing rights is also an important issue in foreign trade.

Many past experiences have proved that vicious competition in China has caused foreigners to repeatedly lower prices when selling to the outside world, and high-quality products cannot be sold at high-quality prices. This is a pity.

For example, domestic mushrooms are very popular in overseas markets, but they have never been sold at a price. The main reason is that they have not formed large-scale planting, which is inconvenient for others to collect. Another reason is that foreign investors or agents have already grasped the specific situation when they acquire it, so they have lowered the price one by one, so that everyone has no profit to make. Sometimes, for the sake of shipping, they basically have to enter and exit in a flat manner.

Therefore, when Fan Wubing made suggestions to his father Fan Heng, he specifically mentioned this point. In terms of external sales, there must be a relatively concentrated industry association organization to set the price, at least set a minimum price. Once some units are sold below this price, their power in the industry association should be deprived, and no activities will be included in the future.

In this way, the interests of various industries can be maximized.

Of course, doing so only has no impact on the overseas market, as for the domestic market, it has no market access system. However, a large part of the power of overseas sales is in the hands of the government and is fully capable of providing reasonable guidance and regulation.

By late June, Fan Wubing had withdrawn US$12 billion in Hong Kong stocks, far exceeding his commitment to the Hong Kong Monetary Authority, but the funds he stayed in the Hong Kong stock market were still as high as US$8 billion, which made him feel a little embarrassed. He had made too much money.

"Or, let's donate some money to build something in Hong Kong universities? At least it also means that we have some feedback." Fan Wubing discussed with his subordinates, and everyone thought this idea was good.
Chapter completed!