God-level Trader of Rebirth

Chapter 36 National Bankruptcy Day

The rise of a country takes at least decades.

For example, China's close neighbor, South Korea.

Since the 60s, South Korea has shifted its economic focus to exports, and its labor-intensive industries have increased dramatically, thus achieving rapid economic take-off.

In 1988, after South Korea hosted the Olympic Games in Seoul, it soared into the sky and became the first of the four Asian tigers.

In 1996, then South Korean President Kim Young-sam announced to join the OECD, which is what we often call the "OECD".

This move indicates that South Korea has completely entered the camp of developed countries.

According to economic polls, 85% of Koreans consider themselves middle class.

However, Koreans were too happy.

November 11, 5.

Wall Street in New York, Morgan Stanley Headquarters, East Asia Division.

Analysts on Wall Street issued an urgent notice to investors.

"All investors please immediately withdraw all funds in Korea."

Immediately afterwards, a large amount of upstream capital began to withdraw from South Korea.

Foreign capital also dumped their Korean assets one after another, and even exchanged their Korean won for the US dollar, the international currency.

The exchange rate of the South Korean won has plummeted due to the impact of the financial turmoil, and South Korean high-level officials need to use foreign exchange to raise it.

Now that most of it has been exchanged by foreign capital, South Korea's foreign exchange will soon bottom out.

11 month 15 day.

The international hot money that was temporarily blocked in the Xiangjiang stock market decided to go all the way north and move to South Korea.

International speculators headed by Soros once again assembled their firepower to sell the Korean won.

For a while, the Korean won exchange rate plummeted, and it collapsed in less than 5 minutes, triggering the circuit breaker mechanism one after another.

On November 11, the exchange rate of the Korean won fell by the limit for two consecutive days, and the Bank of Korea was forced to abandon its intervention in the exchange rate of the Korean won.

On November 11, South Korean President Kim Young-sam accepted the resignation of South Korean Finance Minister Kang Kyung-sik and his senior assistants.

As soon as the news came out, the Korean financial market suddenly lost control.

After the opening of the Korean financial foreign exchange market that day, it fell again by 23 won, or 2%, falling below the limit of the daily fluctuation range of the won not exceeding 27%.

At the same time, the Seoul Composite Stock Price Index fell sharply by 11 points, or 65%, to close at 2 points.

In order not to depreciate the Korean won, the South Korean authorities can only buy large amounts of foreign exchange.

It's a pity that the speed of the dollar's withdrawal has greatly exceeded their purchase speed.

The treasury has less than 100 billion US dollars of foreign exchange reserves, which is not enough to deal with the international speculators who carry huge amounts of money.

For this reason, South Korea's high-level executives did not hesitate to lower their face and urgently asked the neighbor RB for help.

After receiving the news, RB also knew the truth of the cold lips and teeth, and prepared to assist South Korea with 200 billion U.S. dollars to fight against the attack of international hot money.

Unexpectedly, the Fed received a stern warning that day.

The last straw for South Korea sank with it.

Immediately afterwards, under the attack of international hot money, the Korean won exchange rate plummeted, prices rose sharply, and the Korean won system collapsed, completely turning into a piece of waste paper.

Won is worthless!
South Korea's 20-year Han River miracle accumulated US dollars once they were exhausted, and the country suddenly slipped from a thriving prosperity to an endless abyss.

People cried, collapsed, and jumped from tall skyscrapers...

The Koreans were at a loss.

I don't know who first issued the call, but people suddenly began to circulate: "Give the gold to the country, and we will save ourselves."

Unprecedented cohesion broke out among the South Korean people, and every household did not care about gains and losses. Whether it was ancestral gold jewelry or the gold at the bottom of the box, all were selflessly donated to the South Korean authorities by their respective owners.

A huge national self-rescue movement kicked off.

According to statistics, South Korea received a total of more than 20 tons of gold worth nearly 200 billion U.S. dollars from the private sector.

But this flame was extinguished by international capital with a small glass of "water".

Gold is a hard currency that is "harder" than the dollar.

However, this year was the lowest point in the international gold price in the past 20 years.

South Korea is simply unlucky. The people's gold has not been exchanged for too many dollars, and they cannot survive this crisis at all.

11 month 22 day.

South Korea officially declared bankruptcy and decided to use the remaining foreign exchange reserves to keep large enterprises and give up the interests of small and medium-sized enterprises and ordinary people.

for a while.

Koreans are desperate, there are countless bankrupt families, and unemployment and suicide rates have skyrocketed.

As a result, the rooftops and bridges are not enough.

Hong Kong.

Antlers Building, nine floors.

Lin Zeju looked at the latest issue of the newspaper, sweating coldly from fear.

Soros and other financial giants can destroy a country without even a single bullet.

"Awei, you're right, South Korea really went bankrupt in seven days!" Lin Zeju said in a daze.

"Flies don't bite seamless eggs. To put it bluntly, these countries in Southeast Asia have their own economic problems." Chen Weidong put down the newspaper and said lightly.

The economic development of Southeast Asia is too dependent on exports, and the industrial development is in its infancy, with population-intensive industries as the mainstay, and the industrial expansion is also at a low level, so product upgrades cannot be realized.

While the economy was developing rapidly, hot money and bank loans poured into the real estate industry, resulting in a serious surplus of real estate, and the inflation of prices gave birth to bubbles.

The appearance of economic prosperity in Southeast Asia conceals all contradictions. It is not until the international financial giants open their sharp mouths that they realize how fragile their economies are.

"Awei, you are from the future, right?!"

Lin Zeju rushed over suddenly with red eyes, grabbing Chen Weidong's collar but not letting go.

"Fuck... let me go!!"

"let me go…"

"You ****!" Chen Weidong felt as if he was going to be strangled so hard that he couldn't breathe.

The strange noise in the office quickly alarmed the staff outside.

Li Xi'er hurried over, separated the two of them forcefully, and said in shock: "What are you two doing, isn't it normal?!"

"Ahem, who knows why he's crazy?" Chen Weidong felt the free air instantly, and he almost felt like he was going to hit the street.

Lin Zeju on the side suddenly became extremely calm, turned his head and said to Li Xier: "You go out first, I still have something to talk to Ah Wei."

Seeing that the two returned to normal, Li Xier finally breathed a sigh of relief, and said cautiously: "Okay, you two don't fight again, or I will call the security guard."

"Listen to you, you go out first." Chen Weidong adjusted his coat and tie, and sat back on the office chair again.

Li Xi'er walked out of the office, waved to everyone at the door, and told them to return to their posts.

"Awei, how do you explain?" Lin Zeju said.

"Explain? How do you want me to explain?"

Chen Weidong's tone was so calm that people couldn't see his true emotions.

(End of this chapter)