Chapter 1165 Black Monday! The stock market crash shocked the world! !
Late July.
The marking of domestic college entrance examination papers has ended.
In early August, various provinces and cities in China announced the admission scores for technical secondary schools, junior colleges, and undergraduates.
In mid-August, college entrance examination admission ends.
Among them, the three universities invested by Imperial Group in Xiangjiang, Eastern University, Eastern University of Science and Technology, and Xiangjiang University of Science and Technology, each have admitted about 8,000 to 10,000 freshmen in the country.
It can be said that the number of admitted students is very high.
In addition to the great influence of the Imperial Group, Xiangjiang is still very attractive to domestic students, and many of the majors currently admitted to these three universities are very popular.
So much so that there are really many candidates applying for these three institutions of higher learning.
However, for the nearly 10 million college entrance examination students in China, the number admitted by these three universities is only more than 20,000. It can be said that the admission rate is very low, and they belong to the best of high-quality students.
Except this.
The three universities on the Haojiang side, East Asia University, East Asia University of Technology, and East Asia University of Science and Technology, were established by He Xian, the Ma family, and the Cui family during his lifetime.
Among them, Yang Ming also donated a large sum of money on behalf of the Yang Ming Foundation.
Compared with Xiangjiang, there are fewer candidates in Haojiang, so these three Haojiang universities will also admit some freshmen from China.
Except these.
Yang Ming invested in more than 30 vocational colleges such as Huicheng University, Huicheng University of Technology, and Longchuan in his hometown. They have cultivated many talents for the country in recent years.
September 1, 1987.
Xiangjiang University officially opened.
this day.
Yang Ming took time out to come to Dongfang University and gave an opening speech for the freshmen.
September 2, 1987.
Yang Ming took time to come to Eastern University of Science and Technology. In addition to giving an opening speech to the freshmen, he also gave them a class in person.
September 3, 1987.
Yang Ming came to Xiangjiang University of Science and Technology. In addition to giving an opening speech to the freshmen, he also talked to them about the development of future technology.
. . .
Time passed quietly.
In the blink of an eye, September 27, 1987 came.
As in previous years, Yang Ming took a private plane to Yanjing in advance on this day this year.
Not only did I attend the National Day in 1987, but the main thing was to meet the old gentleman.
On this day, in addition to Zhong Chuhong who was nursing her baby, she was resting and nursing her baby in her mid-level villa, and now Lan Jieying was following her.
It was also the first time for Lan Jieying to follow Yang Ming to Yanjing.
Before that, she had been to Yang Ming's hometown of Asia Film and Television City to film a TV series. Even then, she was still very curious about the country.
That morning.
11:30 am Yanjing time.
Yang Ming's private plane landed safely at Yanjing International Airport.
When Yang Ming got off the private plane, in addition to Tang Yun, Zhou Kaixuan and others, there were also Mr. Jiang, Mr. Xi, Mr. Rong, Mr. Shen and others who came to greet him.
As for Yang Ming, he acquired Huifeng Bank a few months ago.
At that time, not only Rong Lao was shocked for a long time, but Mr. Lao and others were also very shocked when they heard about it.
Only Yang Ming and the Imperial Group can continuously swallow up so many important companies in the hands of British capital.
Yang Ming, Mr. Jiang, Mr. Rong, Mr. Xi and others shook hands and greeted each other.
We didn't stay too long at the airport.
When Yang Ming got in the car, he left here and headed to the Oriental Mandarin Hotel.
1987 was the era of domestic entrepreneurs.
In addition to more and more people starting businesses, historically, this year, like 1984, also saw more and more entrepreneurs emerge.
However, there doesn't seem to be much difference to Yang Ming.
Before the National Day.
Yang Ming met the old gentleman several times.
On the National Day, Yang Ming participated in the National Day activities normally.
Then on October 4, 1987.
Yang Ming left Yanjing and flew to Shanghai.
While in Shencheng, I witnessed with my own eyes the Pudong New District that has undergone tremendous changes.
October 7, 1987.
Yang Ming left Shanghai and flew directly back to Xiangjiang.
. . .
Ten days later.
The time came to October 16, 1987.
This day is Friday.
After hitting consecutive new highs in the summer, the New York stock market fell more than 91 points (about 5%) on the same day. However, due to the time difference, the East Coast time of country M opened later than other major financial markets. When the New York stock market plummeted, other markets were closed and were not affected. Even the Toronto stock market, which was synchronized with the New York stock market, was not affected.
October 19, 1987.
Monday.
That day, global stock markets plummeted, led by the Dow Jones Industrial Average in New York, triggering panic in the financial market and the ensuing economic recession of the late 1980s.
In just 3 hours, the Dow Jones Industrial Average fell 508.32 points, or 22.62%. This means that the stocks in the hands of shareholders have depreciated by more than 20% in one day, and a total of 500 billion US dollars has disappeared. The property equivalent to one-eighth of the annual GDP of country M has evaporated in an instant.
Immediately, panic spread to other areas outside Country M. On October 19, stock markets in London, Tokyo, Hong Kong, Paris, Frankfurt, Toronto, Sydney, Wellington and other places also fell.
Over the next week, panic grew.
On October 20, Tokyo Stock Exchange stocks fell by 14.9%, setting a record for the highest decline in Tokyo Securities.
On October 26, the Hang Seng Index plummeted by 1,126 points, a drop of 33.5%, setting a record for the largest decline in the history of the Hong Kong stock market, swallowing up all the gains since November 1986.
In response, stock markets in Tokyo, Sydney, Bangkok, Singapore and Manila also fell.
So the news of the Asian stock market crash spread back to Europe and the United States, causing the European and American stock markets to plummet.
According to statistics, in the eight days from October 19 to 26, as much as US$2 trillion was lost due to the stock market crash, which was 5.92 times the total direct and indirect losses of US$338 billion in World War II.
Wachtel, an economist at Merrill Lynch, therefore called the stock market plunge on October 19 and 26 an "out-of-control massacre."
When the stock market crashed in October 1987, the first people affected, just like in 1929, were the rich. Among the 400 richest people in Country M previously published by Forbes magazine on September 15, the names of 38 people were wiped off the list.
On October 19, Sam Walton, then the world’s richest man, lost $2.1 billion.
What is even more tragic are the ordinary people who invested their life savings in the stock market. They originally expected to make some money for retirement by taking advantage of the bullishness of the stock market. However, in a few days, their life savings were wiped out by the falling stock prices.
The fluctuations in the stock market have just eased, and social and economic life has fallen into panic fluctuations again.
Banks went bankrupt, factories closed, companies laid off massive layoffs, and the tragedy that happened in 1929 happened again.
Compared with 192 countries, the economy has maintained relatively high growth, and the stock market crash did not lead to an overall economic crisis.
However, the stock market crash still had a huge impact on the economy of country M, which was followed by a long period of stagnation in the economy of country M.
