Galactic Tech Empire

Chapter 333 Bankruptcy
Domestically, vacuum railways are being developed in a hurry.

But at this moment, rice stocks are in dire straits, and the chain reaction triggered by General Motors has been suppressed by the ten-year-old man who intervened.

However, the rice stocks and Xizhou stock markets have been in a half-dead slump recently.

It's not that the Ten Old Man Association and the Xizhou Alliance are weak, they have worked very hard, but the lack of economic growth points makes it difficult to boost the entire market for a while.

Dongtang's economy has grown rapidly in the past few years, thanks to the emergence of high-tech technologies such as battery technology, chip technology, and holographic projection technology, which have triggered a series of technological revolutions.

很多经济学家已经预测2019年，东唐的GDP可能达到110万亿华元左右，如果再加上东岛的6万亿火星币、高力的13万亿火星币、香江的2.5万亿华元、澳境的4000亿华元。

The GDP of Dongtang plus the Galaxy Consortium will reach an astonishing 132 trillion Chinese yuan. Calculated according to the current exchange rate, 132 trillion Chinese yuan is equivalent to about 18.8 trillion U.S. dollars.

However, Milijia’s economy in 2019 is very likely to experience negative growth. Last year, their GDP was 18.69 trillion U.S. dollars. It is thankful that they can keep this figure this year.

That is to say, the overall GDP of Dongtang plus the Yinhe Consortium will exceed that of Mi Lijia, but because of the GDP of Dongtang, Xiangjiang, Australia, and Dongdao are not counted.

Even if Dong Tang calculated it himself, it still reached a scale of 15.7 trillion US dollars.

So now many economists are very optimistic about Dongtang’s future. If this trend continues, Dongtang’s economic scale will reach US$2030-28 trillion around 30.

In addition, Dongtang and the Yinhe Consortium have recently promoted the internationalization of Huayuan/Mars currency in Southeast Asia, which is used to replace the international currency role of the US dollar.

Although many Southeast Asian countries are reluctant to use Huayuan or Mars coins, they have to accept this fact for economic assistance and access to the Dongtang market.

Now that the rice family and the Xizhou Alliance are in a mess, it is wishful thinking to want them to save Southeast Asia, just don't make trouble.

In addition, Dongtang and the Yinhe Consortium have another card in their hands, and that is the seawater desalination plant.

For example, the Camel Kingdom in Saudi Arabia has to accept Huayuan and Mars coins, because Dongtang now pays Huayuan directly for oil purchases.

If Huayuan is not accepted, and the payment of the desalination plant only accepts Huayuan or Mars coins, then they will not be able to purchase seawater desalination membranes and fresh water because they do not have Huayuan or Mars coins.

Therefore, countries with seawater desalination plants must reserve a certain amount of Huayuan or Mars coins, otherwise there will be no money to pay, and Dongyin Water will have to stop their water.

Especially those big dogs, not only need fresh water, but also holographic projection equipment, 6G communication, and other daily necessities.

The Huayuan has become more and more influential as an international currency. When the Huayuan becomes an international currency, it will be able to roll the wool of the world in a fair and honest manner.

……

Rice House, General Motors headquarters.

William, Muyou Xiaoji and other high-level executives are in a meeting with tired faces.

"Mr. President, I'm very sorry! I went to many banks, but none of them are willing to lend us a loan." Muyou Xiaoji said helplessly.

"It's the same on my side. All shareholders are planning to sell their shares. They are obviously planning to give up GM." Another vice president said with a sad face.

"Is GM really going to be history?" chief technology executive Martin lamented.

William, with bloodshot eyes, slumped on the chair exhaustedly, listening to the bad news without saying a word.

"If we sell some fixed assets and then lay off some employees, maybe we can postpone the current predicament." One of the vice presidents suggested.

"This matter is very difficult. Now the workers are very dissatisfied. If we really lay off workers, it may trigger a large-scale strike. This is too fatal for the current General Motors." Kiyou Xiaoji objected.

"But if we don't do this, what else can we do? Are we waiting to die here?"

"If someone would buy GM, maybe it could save GM."

"Don't be kidding, who has money now? Maybe those big dogs in West Asia have money, but they are not fools. They know that it is a big pit, unless their heads are in the water."

While talking, a group of vice presidents started arguing, everyone was furious, and all of a sudden the conference room became noisy.

bump!William slammed the table hard and came over, angrily scolded: "Enough, let's fight outside."

Everyone who was startled by William suddenly fell silent.

After a while, the dispirited William looked at the crowd helplessly, and said sadly:
"Get ready to file for bankruptcy in court!"

"This..." Muyou Xiaoji opened his mouth, but in the end he was still speechless.

The others also bowed their heads in silence. It was difficult for them to accept this result, but they had to face the reality.

They know that GM is going to die, unless someone is willing to buy or inject capital, but in the current environment, it is difficult for investors to take risks and invest in GM.

9 month 16 day.

General Motors formally filed for bankruptcy in New York federal court.

This incident immediately triggered another drop in rice stocks. Although the old man would want to save General Motors, he is now powerless.

Soon the New York federal court approved General Motors to enter bankruptcy liquidation procedures.

This auto giant, which has dominated Mi Li's family and even the world for decades, could not survive this crisis in the end. General Motors, which collapsed suddenly, was neither the first nor the last to fall.

Ford Motor, the only surviving fruit of Mi Li’s family, has received strong support from the Ten Old Men’s Association, and has eaten a large part of GM’s legacy, including the Super 500 battery technology and production line.

But Ford Motor is not having a good time now. Although they have used policy protection to keep Milijia and a part of the Xizhou Alliance market, the market in other regions has been defeated by electric vehicles using Thor batteries.

Now Ford is walking on thin ice, for fear that if one is not careful, it will follow in the footsteps of General Motors.

And Milijia's local market is also rapidly declining. After all, Milijia's economic situation is not very good now. People are unemployed on a large scale or their income is reduced. No one wants to buy a car without money.

Ford thought desperately in his heart: I am too difficult, God!Give me a call!
Of course, Ford is not dead-brained. They have already planned to abandon the Super 500 battery and introduce Raytheon batteries to replace the Super 500 battery.

The so-called supply security issue, in the face of life and death, they have no choice.

As for the Super 500 battery like General Motors, Ford Motor doesn't want to invest a lot of money and be killed by Thor's battery. It would be a tragedy.

As long as Raytheon Electric Group is willing to supply Raytheon batteries, it will be more expensive. What's more, the price of Raytheon 3 batteries has been reduced by 50%, and it is a big deal to use Raytheon 3 batteries that are a little behind.

As for the possibility of being scolded for licking dogs in China, Ford doesn't care. Now that Sydney is living so well, what's wrong with being a dog licking?
(End of this chapter)