Chapter 973 Storm
At the beginning of the year, the Indonesian financial crisis re-emerged.
Faced with the worst economic recession in history, the prescription prescribed by the International Monetary Fund for Indonesia failed to achieve the expected results.
On February 11, the Indonesian government announced that it would implement a fixed exchange rate system between the rupiah and the US dollar to stabilize the rupiah.
This move was unanimously opposed by the International Monetary Fund, the United States, and Western Europe. The International Monetary Fund threatened to withdraw its aid to Indonesia.
Are you kidding? Indonesia has no foreign exchange reserves, and it still needs to be tied to the US dollar?
Who gives Indonesia the courage? !
Liang Jingru! ?
Indonesia suddenly fell into a major political and economic crisis.
On February 16, the exchange rate between the rupiah and the US dollar fell below 10,000:1.
Affected by this, the Southeast Asian foreign exchange market was in turmoil again, and the Singapore dollar, Malaysian ringgit, Thai baht, Philippine peso, etc. fell one after another.
It was not until April 8 that Indonesia and the International Monetary Fund reached an agreement on a new economic reform plan that the Southeast Asian foreign exchange market was declared calm.
At this time, Japan was suffering. The yen exchange rate fell from 115 yen to 1 US dollar at the end of June 1976 to 133 yen to 1 US dollar at the beginning of April 1998. The yen exchange rate fell all the way and soon fell to the mark of 150 yen to 1 US dollar.
With the sharp depreciation of the yen, the international financial situation became more uncertain, and the Asian financial crisis continued to deepen.
The international speculators who were stirring up trouble once again launched an attack on the Hong Kong financial market, intending to defeat the Hong Kong financial market and eat the fat meat of Hong Kong.
In the eyes of international speculators, even Japan, which has the largest foreign exchange reserves and the world's second largest economy, can't stop their attack, let alone Hong Kong!
Suddenly, the Hong Kong stock market fought again!
International speculators sold a lot of shorts, intending to break 10,000 points. The lower the better, this is something that many investors understand.
However, international speculators found that a large amount of funds entered the market and continued to take orders, and they stabilized at 10,000 points.
The international speculators tried to attack several times, but found it was completely futile. This force was extremely powerful.
What's more terrifying is that with the continuous inflow of funds, the Hang Seng Index began to rebound.
Facing the attack of the international speculators, more than a dozen banks including Hong Kong Bank, Standard Chartered Bank, Hong Kong Construction Bank, Hong Kong Commercial Bank, Hong Kong Development Bank, and Hong Kong Yonghong Bank have carried out reverse stock repurchases.
Hong Kong Land, Hong Kong Airlines, Hong Kong Power, Hong Kong Communications, Hong Kong Television, etc. have all started reverse repurchases, or a large amount of funds have entered the market to sweep their own stocks on the stock market.
There is also a large amount of funds to acquire the stocks of high-quality assets such as Cheung Kong.
Office buildings, villas, and real estates were acquired like autumn wind sweeping fallen leaves.
Listed companies rose against the trend, and the Hang Seng Index soon broke through 11,000 points.
At this time, the international speculators were already terrified. If the Hang Seng Index rose to 11,000 points, everyone would lose a lot of money.
When the international speculators were panicking, the Hong Kong government took action again.
The Hong Kong government purchased a number of old and dilapidated areas and will renovate and develop them into low-rent housing to improve the living environment of Hong Kong citizens.
Hong Kong housing prices fell to the level of 1990, which was already very severe. International speculators were speculating that the Hong Kong property market was going to collapse, but who could have thought that such a large amount of funds would appear to stabilize the Hong Kong property market.
The entire Hong Kong stock market was also as stable as Mount Tai.
Faced with the massive amount of funds that seemed like a bottomless pit, the international speculators were terrified. Knowing that the general situation was over, they abandoned their armor and fled in panic.
Soros suffered heavy losses in this battle, and the international speculators suffered heavy losses.
After Soros and the international speculators paid the bribe, Liu Tao did not embarrass them because what he was waiting for happened.
Thailand, Malaysia, Indonesia, and the Philippines happened almost at the same time.
The whole of Southeast Asia seemed to be in chaos all of a sudden!
Thailand.
International speculators defeated the Thai financial market, and Thailand suffered heavy losses.
The opposition party attacked the ruling party, believing that it was the ruling party that handled the situation improperly, was close to Europe, America and Japan, and cooperated with Europe and America to cause this economic crisis, forcing the ruling party to apologize and abdicate and give up power.
The ruling party was unwilling to do so, and directed the conflict to Chinese businessmen in an attempt to divert the conflict.
There was still a war of words in the front, but such a big conflict cannot be solved by a war of words.
All of a sudden, it became chaotic.
Facing the mob, the guards showed no mercy.
"Da Da Da~~" The machine guns spewed flames.
The mob who wanted to attack the villa was beaten into a sieve in an instant.
The guards quickly converted the reserve forces into regular troops to protect themselves.
The crisis at this time was already very obvious.
If you don't resist, you will be at the mercy of others!
Only by resisting and arguing can you create a new world!
The guards acted quickly to control the villages, districts and counties where they were located!
The ruling party realized how big a hornet's nest it had poked.
For a time, war was raging everywhere, and all kinds of bad news kept coming to Bangkok.
The military also had a military coup. The military has been dissatisfied with the current ruling party for a long time. After all, the military budget has been cut every year. How could the military not be dissatisfied?
Besides, the ruling party's brains are rusty and brainwashed by Europe and the United States.
They thought that freedom, democracy, and open financial markets would make them a developed country like Europe and the United States.
They didn't even look at the actual situation. As a result, they let the wolf in and hit the Thai economy hard.
This immediately triggered all kinds of contradictions.
Another military coup in Thailand! ?
There was no international coverage at all, because Thailand had long been under military dictatorship after World War II, and military coups were commonplace.
The current ruling party has only been in power for less than two years.
Faced with the military coup launched by the military, the ruling party panicked and organized the Thai people to take to the streets to oppose military rule.
This time the military chose a bloody suppression.
"Bang~~" The soldier fired without hesitation, and the bullet hit a young man.
"Da Da Da~~" The machine gun was mounted on the pickup truck and kept firing.
This scene was full of blood.
In just a few days, the situation was completely out of control.
Officials of the ruling party were dragged out by the soldiers, dragged to the street and shot directly.
Even if someone fled to the embassy of European and American countries, they were broken into by soldiers, and then forcibly dragged away, or even shot directly at the door of the embassy of European and American countries.
This time the suppression was more bloody than before.
Anyone who dared to resist was bloodily suppressed.
Even the royal family could not escape the disaster.
No one expected that the financial crisis would cause such a heavy blow to Thailand. It not only hit the Thai economy, but also triggered conflicts within Thailand.
A small part of the ruling party went to the United States to form an exiled government, accusing the military of trampling on democracy and freedom in the international arena, and begging Europe and the United States for help.
However, Europe and the United States refused to send troops to Thailand except for accusations. After all, if they sent troops, it would be useless without more than 100,000 people, and they would probably fall into the quagmire of war.
