Go back in time and be a chaebol

Chapter 1029 Fat Meat Delivered to Your Door (Second Update, Please Subscribe)

The world is always changing, and nothing lasts forever. Yesterday's top power may become a secondary power, or even decline until it disappears. For example, Portugal, Spain... In history, the rise and fall of a country seems to be inevitable.

But what is certain is that no powerful country is willing to be reduced to a secondary power, and no country will ignore its own decline without making any effort.

At this moment, Macmillan was working hard for the British Empire. After the British Overseas Airways C717 White Swan landed, he looked at the airport in front of him which was obviously more modern than London Airport, and he couldn't help but sigh in his heart.

"Since when did the British Empire need to ask Asian countries for help?"

While he was thinking this in his heart, the journalist had already recorded a classic scene with his camera - McMillan and the C717 behind him formed a perfect picture.

The second-in-command of the British Empire and the modern jet airliner manufactured in Southeast Asia. They appear in the same frame, seeming to represent the past and the present.

No one expected that this photo would become a symbol of an era and also symbolize the beginning of an era.

Macmillan couldn't care less at this moment. After all, the United States was using financial means to suppress Britain, and Britain needed help from Southeast Asia!

When Egypt announced its intention to take back the Suez Canal, Macmillan was the first to advocate war. He advocated the use of force to resolve the canal issue. However, at that time, he believed that the United States would stand on the side of Britain. When he submitted a report on the Suez Canal War and the economic situation after the war at a cabinet meeting a few months ago, he pointed out his concerns about the pound. He believed that "as long as the United States still stands firmly on our side on major issues, there will be no wave of selling the pound."

However, the United States is not resolute.

In other words, he and Downing Street overestimated the relationship with the United States, which had no intention of protecting the interests of the United Kingdom. Compared with the United Kingdom, the United States was more worried that the Arab world would turn to the Russian camp and threaten its interests in the Middle East, so the United States "changed sides". Originally, the United Kingdom expected the United States to at least remain neutral, but it did not expect the United States to make a U-turn. In order to stop the United Kingdom, the United States even used the "monetary weapon" that Macmillan was most worried about.

While selling off the British pound, the United States even issued an ultimatum to Macmillan: "Either Britain ceases fire immediately or relies on the British pound to fight the war..."

Faced with such blackmail, Nanyang became the last choice.

That is to strike at the pound. Faced with such betrayal by the United States, and even a counterattack, Britain can only seek help from Southeast Asia!

Nanyang is Britain's last straw. If Nanyang refuses...

"The only option is to compromise with the United States!"

Closing his eyes, Macmillan frowned. As an imperialist, he did not think it was shameful to ask for help from Southeast Asia. The most important thing was interests!

The question is, what is Nanyang’s asking price?
This is the problem we need to face next!

Just an hour or two later, McMillan and his team had only taken a short break before the negotiations began.

"I think you all should have understood the current situation. Since the coalition forces took special military action against Egypt to maintain international business rules, the United States has directly intervened economically in order to stop the British from continuing to attack. The US government deliberately sold pounds, which not only caused a sharp drop in Britain's foreign exchange reserves, but also caused the pound exchange rate to float and depreciate by 15%. At the same time, it rejected Britain's loan application to the International Monetary Fund..."

Macmillan was annoyed when referring to the US's actions.

"The US's behavior is an unforgivable betrayal of the purpose and spirit of the International Monetary Fund. After all, what it has blocked is Britain's $13 billion credit line in the organization! The reality we are facing now is - either succumb to the United States and become its servants from now on, or obtain external funds to overcome the current crisis. Mr. Minister, due to the special relationship between Britain and Nanyang, London hopes to obtain an emergency loan of no less than $5 million from Nanyang to stabilize the exchange rate of the pound."

There was no concealment or beating around the bush, just a straightforward request, because help was needed. Now the UK urgently needed funds to save the exchange rate of the pound, but the UK's own foreign exchange reserves had fallen below the critical level of US$20 billion and could not maintain the market at all.

One month later, the UK Treasury will release its monthly report on the UK's reserves, which will show that the UK's gold and US dollar reserves have fallen below $20 billion, a dangerous critical point that will undoubtedly trigger a new round of pound runs.

After the International Monetary Fund rejected Britain's credit withdrawal rights, Nanyang became Britain's only choice. After all, Nanyang had a foreign exchange reserve of as much as 180 billion US dollars!
His foreign exchange reserves are larger than those of the entire Europe - Britain has only $23 billion, Germany has $24.5 billion, and France has only $18 billion.

The foreign exchange reserves of the three traditional European powers combined are not even a fraction of those of Southeast Asia!
If they are willing to give even a fraction of it, it would be enough to help Britain out of its current crisis.

"Is 5 million US dollars enough?" While asking back, Li Guoren turned his head and looked at Finance Minister Zhao Shijie beside him and asked.

"According to our calculations, how much money would the UK need to stabilize the exchange rate of the pound and resist the US sell-off."

Zhao Shijie said in a calm tone, holding up the frame of the mirror.

"According to the information released by the US Treasury Department, they have about 7000 million pounds of foreign exchange in their hands. They have sold 2000 million pounds so far. Influenced by this, the market has also seen selling behavior. For example, Pakistan and other countries are also selling, and it will also attract many speculators who bet on the depreciation of the pound. Taking various factors into consideration, in this financial war, the market will abandon 2 million to 3.5 million pounds of foreign exchange, which will require at least 10 billion US dollars to stabilize the exchange rate. The problem is that the UK..."

After a slight pause, Zhao Shijie looked up at McMillan and said.

"The UK's foreign exchange is almost exhausted. In this case, $5 million is simply a waste of money."

As the Minister of Finance and former Governor of the Nanyang Central Bank, Zhao Shijie is a financial expert himself and is naturally very familiar with the predicament of Britain's foreign exchange reserves.

In the financial market, a lot of information is public. Faced with the reality of being exposed, McMillan shrugged his shoulders helplessly and said.

"We need $10 billion, or even more. The United States has temporarily suspended its Marshall Plan aid to the UK, which means we need more money to buy supplies. So, now the UK needs help more than ever..."

After a pause, McMillan faced the gazes of the two directors in front of him and directly stated his purpose.

"In other words, the Commonwealth has reached the most critical juncture. If we cannot unite, not only will the Commonwealth become a mere decoration, but all of our countries will also become followers of the United States. Gentlemen, this is not a financial crisis, but a war, a financial war that concerns the future of the entire Commonwealth, and Nanyang..."

Looking directly at the Nanyang officials present, Macmillan took a deep breath and said:
"I have the most abundant ammunition, so I came here to seek your help."

Li Guoren and Zhao Shijie looked at each other. Isn't this exactly the opportunity that Your Excellency mentioned as "fat meat coming to your doorstep"?
The question now is what kind of exchange conditions the UK can offer, which is the most important thing.

At this moment, facing the gazes of the two of them, McMillan felt like he was just like the girls in the London clubs, dressing himself up beautifully and waiting for them to choose him. What was even more frustrating was that he was even worried that the other party would look down on him.

"As you said, Nanyang does have abundant foreign exchange reserves. In fact..."

Li Guoren took a puff of his cigarette and said,

"Not only can we provide an emergency loan of 10 billion US dollars, but we can also cooperate with the UK to stabilize the exchange rate of the pound in the international market to ensure the financial interests of the entire Commonwealth. We have the funds and ability to do so, and we are also happy to help the UK. Before the negotiations began, Your Excellency had already said that as long as you need it, we can write a check at any time, 10 billion, 20 billion, no problem!"

This is not because Li Yian is generous, but the rate of return on loans provided to big countries is much higher than that of small and poor countries. Otherwise, in another world, bonds of European and American countries would not be so popular. To put it bluntly, they can repay the money they borrowed, while the money borrowed from old friends in Asia, Africa and Latin America... is basically throwing meat buns at dogs.

Nanyang's foreign exchange reserves were earned by the Nanyang people with their blood and sweat, and they must not be spent lavishly or squandered. Loans to European countries with excellent international credit reputation such as the United Kingdom can not only get returns on interest, but also other returns.

Of course, this kind of return needs to be negotiated.

"But the only question is—what happens after this?"

After putting out the cigarette butt in the ashtray and looking at McMillan with a puzzled expression, Li Guoren continued to ask.

"With the help of Nanyang, the current pound crisis can definitely be easily resolved, but the problem lies in the future. We know very well that the pound crisis will continue to occur in the future, because all this has been destined, isn't it?"

The sudden adjective made Macmillan fall silent. As the British Chancellor of the Exchequer, he certainly knew that the problem pointed out by the other party... was a practical problem!

It is even the most embarrassing and helpless reality problem facing the pound since the war!
(End of this chapter)