When I am reborn in Hong Kong, I just want to lie down

Starting from July 7, the countries in Southeast Asia that were mainly attacked were in a precarious situation. It was not that they did not want to resist, but that they were unable to resist. It was even worse than that in the previous life, and it was too miserable to bear witnessing.

The Asian financial crisis first hit Xianluo.The currency fell very fast, and they had no ability to resist at all. People lost their jobs in large numbers. Import and export companies were the first to collapse, and no one was spared. Real estate companies filed for bankruptcy one after another because they could not afford the foreign debt.

Li Bu borrowed Big Banana Real Estate Company to enter Xianluo Real Estate, which happened to be the best time for Xianluo Real Estate. By the beginning of 1996, all real estate projects were cleared. At this stage, Xianluo real estate prices increased by nearly 400%, and the SET Index also increased. At the beginning of 1996, it reached a peak of 1410.33, reaching a historical high.

Since then, real estate and stock markets have turned into decline, putting tremendous pressure on bank assets.According to statistics, the non-performing assets of Thai commercial banks reached 1996 trillion baht in June 6, 2.28 trillion more than the 1.78 trillion in the previous life, and the non-performing asset rate was as high as 0.5%, an increase of 45.8% from the previous life.

Big Banana Real Estate made huge profits, investing US$5000 million and earning US$50 billion. As for why it cleared all its projects in early 1996, it was because at the end of 1995, the deposit and loan interest rates of domestic financial institutions in Xianluo reached 12% and 13.75 respectively. %, not only the highest in Asia, but also more than twice the international average. Taiping Hang Lung Bank lent a lot of money during this period, and withdrew the principal and interest before mid-2, allowing Taiping Hang Lung Bank to earn The high interest rate policy further inhibited investment and consumption, exacerbated the economic recession, and further worsened the non-performing assets of commercial banks, making the precarious Thai economy even worse.

At the end of 1996, Thailand's foreign debt reached US$1230 billion (originally US$930 billion), equivalent to 66.13% of GDP, of which short-term external debt accounted for 69.76%.A fragile financial system, chronic deficits and high inflation have attracted the attention of international capital.

Therefore, in 1997, Xianluo was the first to attack. Then, speculators led by the Entanglement Fund were stunned. The other party had no resistance at all. Neighboring countries originally had plans for bilateral or multilateral foreign exchange intervention in March. As a result, don’t talk about bilateral intervention or multilateral intervention now. Let’s talk about it when we can take care of ourselves.

Xianluo was still able to resist at the beginning of the year, but by July, the price dropped to 1 cents per U.S. dollar, which stunned hot money investors.

Xian Luo used all kinds of methods, such as investing US$60 billion in May to maintain the exchange rate; using administrative orders to prohibit domestic financial institutions from lending Thai baht to foreign countries; and significantly raising the overnight lending rate, from 10% to 1000-1500%. .From May until the big outbreak in July, all these methods were useless. In July, one US dollar was exchanged for 7 cents. What happened in the middle?No one knows.

How miserable is Xianluo at this time?

The crisis has had a serious impact on Thai society.During the financial crisis, the exchange rate depreciated by 80% (originally 40%), the country’s external payment capacity shrank by nearly 58%, nearly a hundred (originally 50) financial institutions announced their closure, and almost all Xianluo financial institutions (originally 470%) , its total deposits account for more than 270% of the country's total deposits.At the same time, almost everyone was not spared, and the number of unemployed people reached [-] million (originally [-] million).

Due to skyrocketing prices, a sharp increase in the number of unemployed people, and frequent thefts and murders, the once peaceful Buddhist society is now in chaos. The Prime Minister, who had just taken office less than a year ago, had to resign.

Wherever the crisis passes, it is like a tsunami and an earthquake, no matter who is high or low, everyone will be treated equally.

Billionaire Slivere fell into poverty overnight due to the crisis. He had to hang a box on his chest every day and sell sandwiches made by his wife on the street to make a living. The 48-year-old rich man selling sandwiches became inspirational news at the time.

This is true for the rich, and the situation of ordinary people is even more unimaginable.

According to a survey by the Xianluo government, Xianluo lost nearly US$2000 billion in wealth during the crisis, and Xianluo's GDP in 1997 was only US$900.76 billion.Horrible.

Just when Xianluo was being devastated, a company called Brown Agriculture came to Xianluo and reached a cooperation with the Xianluo royal family. They were willing to invest 20 billion U.S. dollars to buy Xianluo's rice and other land for rice use. of planting.

Many people are willing to sell their rice fields to Brown Agriculture, and these people have become sharecroppers in the new era.

Taiping Hang Lung Bank is also willing to help Xianluo, taking over a large number of banks and financial institutions, starting to buy a large amount of high-quality assets, and providing a short-term low-interest loan to the Xianluo Central Bank, but it must open some industries to it.

The current king of the Xianluo royal family is a very good person, but during this economic crisis, no one is willing to help them. Only this bank from Xiangjiang is willing to help them.

"Those evil wolves are coming to eat us, so we might as well give it to the robbers." The king sighed, revealing his helplessness.

In fact, Xianluo has fallen to a psychological price that entangles funds and hot money, and they are already ready to stop. After they got the news, they immediately started to buy Xianbah and close their positions, waiting for Xianluo Royal Family, Brown Agriculture Company and Taiping Henglong. The currency began to recover a day later after banks signed a package deal.

The Entanglement Fund received a large amount of US dollars from Xianluo, and Li Bu received US dollars, high-quality enterprises, a large number of rice fields, and a large number of cheap 'sharecroppers'. A large number of unemployed people in Xianluo found jobs. Becoming a farmer in the new era, isn’t this a win-win situation?

After Xianluo, there is Marissia, entangled with the fund and his friends, and the general trend of victory from Xianluo comes to attack this small country that is not as good as Xianluo. This country has already been impacted once, and this is the second wave. In fact, This is the third wave of attacks. The previous wave was carried out by Li Bu.

In the eyes of entanglement funds and capital injections, this is just a piece of fat, an undefended little girl who can be ravaged by them at will, and this is also the case.

But what surprises them is that this country has no intention of resisting, and simply gives up. You can do whatever you want, I will lie down, I will do whatever you want.

"What's wrong with this country? It feels like they are lifeless from top to bottom, like a zombie."

"We'd better get a vote and leave. This country is hopeless. It seems to have been looted once before. I don't know if you still remember it."