In the Citibank conference room, representatives from all parties, including Blake, Elton, Dupont, Snein, etc., were all frowning. The situation repeatedly exceeded their expectations.
The stock market is neither going up nor down, and they have not gained much benefit. The Hong Kong dollar and foreign exchange are even worse. Not only has the Hong Kong dollar not depreciated, but it has risen to 5.06.
If they do nothing, with the capital of Xiangjiang's local finance and the entry of funds from the Rose Consortium, the exchange rate between the Hong Kong dollar and the US dollar will soon break through 5.
As a result, institutions including DuPont, Morgan Stanley, Bank of Chicago, etc. will suffer heavy losses.
As Merrill Lynch, which mainly focuses on the stock market, this action is not satisfactory, but because it was entered at a low point, even if the stock market plummeted in the past few days, Merrill Lynch wasted some time and manpower and did not lose much.
, so much so that its representative, Elton, was unwilling to continue spending like this.
Seeing everyone fell into silence for a moment, he spoke out: "Everyone, I have to admit that we underestimated the local capital of Xiangjiang. We lost this time. If we continue to spend like this, our losses will only increase.
If we want to suppress the Xiangjiang economy and Xiangjiang capital, we can only wait for the next opportunity."
DuPont, Morgan Stanley, Bank of Chicago and other forces are very unwilling. Compared with Merrill Lynch, Texas, Seattle and other forces in the stock market, their losses in the foreign exchange market are much greater. This is not only due to the appreciation of the Hong Kong dollar, but also to lending.
Interest, if it were to stop like this, the loss for each company would be hundreds of millions of dollars at least.
But they have to admit Elton's words. Because of the special nature of the issuance of the Hong Kong dollar and the unity of the upper class of Hong Kong's business community, it will be difficult for them to break through the defense line of the Hong Kong dollar exchange rate by relying solely on external forces. After all, it is Hong Kong that controls most of the wealth.
The upper echelons of business.
Moreover, these business figures in Xiangjiang are still very popular among ordinary citizens, especially Li Jianhui, the chartering king and others. Although the sudden news made these citizens panic at first.
But after these top figures stood up and issued the call, many citizens in Xiangjiang calmed down and stopped going to banks to exchange foreign exchange. Especially the employees of these people were not affected by the British news, and there was no change from usual.
As the young master of the DuPont family, Chris Dupont said angrily: "On a small island with only a few million people and an unstable situation, we gathered the strength of more than a dozen families and actually succeeded in the financial war that we are proud of.
Defeat would be Wall Street's biggest shame in decades, and we would become a complete laughing stock in the world's financial circles."
These words are very harsh. If they lose to Japan and Western Europe, it is nothing, but if they lose to a small Hong Kong, their names will be written on the pillar of shame.
After this operation is over, I believe many people will be transferred from their current positions. After all, someone needs to be responsible for this failure.
Naturally, the remote control people at the headquarters will not be held responsible for this kind of thing. Those of them who are personally in charge of Xiangjiang will be the best scapegoats.
They were a little better, but the worst thing they could do was to be transferred. The worst thing would be for the young master of the Du Pont family. This failure would probably cause him to lose the right to inherit the Du Pont family, so they could also understand Chris Du Pont's resentment.
It's just that I understand that they cannot continue to be in such a stalemate. As elites in the financial world, they know that they must withdraw decisively when things cannot be done.
Unless a war breaks out now, they have no chance. However, with the current world situation, the possibility of war is almost zero. At least while the Red Soviet Union still exists, Western countries led by the United States are absolutely unwilling to quarrel with the mainland.
stiff.
Snein, President of Morgan Stanley Asia, said solemnly: “This time we admitted defeat, and after the meeting all parties retreated according to their own plans.
But everyone should remember this humiliation. When the next opportunity comes, we will avenge today and destroy the economy of Hong Kong with a thunderous force, causing the five major financial groups in Hong Kong to fall into the abyss."
Citibank Greater China President Blake also stated that he would withdraw from this operation and wait for the opportunity to arise. Next time, the five major consortiums in Hong Kong will be able to understand the power of world-class consortiums.
Representatives of the three major financial groups, California, Citigroup One, and Morgan, all expressed their resignation and retreat. Others, even if they were unwilling to do so, could only agree to evacuate and wait for the next opportunity to take revenge.
After the meeting, Chris Dupont returned to the financial company controlled by the DuPont family. No matter how unwilling he was, he could only order his staff to buy Hong Kong dollars from the foreign exchange market and return it.
At the same time, I wrote a five-page report on this operation in the office, focusing on the reasons for the failure of this operation and the threats from several major consortiums in Hong Kong, especially the Donghua Consortium headed by Li Jianhui, and the chartering king.
Xianghua Foundation.
These two companies will be the biggest competitors for DuPont and its allies in the market of the ancient Eastern country in the future, especially the Donghua Group, which has the automobile industry and its recent intention to enter the chemical industry, which will form direct competition with DuPont.
In the report, it also urged General Motors to speed up its contact with the mainland and strive to enter the mainland market ahead of the Jade Lion Group, Jaguar Group and Volkswagen Group, so as to take advantage of the opportunity.
In it, Chris Dupont downplayed the responsibility for the failure of this operation. He said that this time it was not due to his incompetence. It was just that all parties underestimated the strength of Hong Kong's local finance, and did not expect that the British Rose Consortium would spend so much money.
Huge sums of money came to help Xiangjiang Capital.
When the neon lights of Xiangjiang flashed, in the CEO's office among the landmark buildings in many regions of the United States, the wise old men looked at the telegrams sent from Xiangjiang, and in their hearts they moved Xiangjiang's position forward again.
Several steps.
Especially the Donghua Consortium and Li Jianhui described in it, although their strength is far from reaching the standards of world-class consortiums, in some areas, they already have the strength to challenge top consortiums like them.
What's more important is that the speed of development of Li Jianhui and his allies is extremely alarming. Although the rankings of the Xiangjiang Economic News are somewhat inaccurate in the eyes of these big guys, it is terrifying to think that Li Jianhui's personal property has doubled in one year.
You must know that this is not an increase from one dollar to two dollars, but an increase from 5.5 billion US dollars to 10 billion US dollars.
If this continues, within a few years, Li Jianhui's personal assets will exceed 100 billion, and the assets controlled by Donghua Consortium will also exceed 1 trillion, becoming a consortium of the same level as them.
This period is not the era of the Internet bubble decades later, nor are there companies with market capitalizations of tens of trillions of dollars at every turn.
Currently, the measure of whether it has reached the standards of a world-class consortium is to see whether the assets of the consortium's holding companies exceed one trillion US dollars.
The five major consortiums in Hong Kong are still far behind this figure, but Donghua Consortium has shown the potential to become a world-class consortium. Even compared to European and American consortiums, Donghua Consortium is likely to only be able to become a business consortium, but its strength cannot be underestimated.