The Son of Finance of the Great Age

  Chapter 282 Wantaa Project

The names such as Keynes mentioned by Wu Lu are all well-known economists. These economists are all great masters who founded schools. The economic ideas they founded were vigorously promoted by the government during a certain period of time. prosperity growth. Except for Keynes, everyone else has a common view that in economic activities, the less government intervention in the market, the better. This is the so-called free market theory, although some of them focus on monetary aspects, and some are Leaning toward classical economics.

After a long sigh, Wu Lu slowed down his tone and continued: "These people's economic theories are not wrong! But you juniors, please remember that what we are talking about is not a topic. The problem now is the war of capital, not the market. Economic issues. Leaving aside, let’s talk about the case of capital wars that have occurred in recent years. You know that the former Soviet Union was in chaos after the disintegration of the economy. Western economics gave them a so-called "shock therapy" Plan, I believe you all support this plan. But what I want to tell you is that there is a plan code-named 'Wanta' that is implemented together with this plan. I am afraid that this plan will scare you to death. "

   "Wanta Project? What Wanta Project?" Liu Huanfei was stunned for a long time before asking.

  Like him, most of the people present showed puzzled expressions on their faces, and only a few people looked normal, obviously already knowing the content of this Wantaa plan.

"After the disintegration of the former Soviet Union, the agents of the United States and Europe lobbied everywhere in Moscow and emptied the entire Soviet family by bribing officials, including hundreds of billions of dollars in assets and hundreds of tons of gold reserves. In Unknowingly, these dollar assets and gold reserves that originally belonged to the Soviet people fell into the pockets of the United States and Europe. It is precisely because of the lack of these hard currencies that the ruble is now depreciating year by year. Do you all know?"

  These things come from Wu Lu's mouth, the authenticity is naturally undeniable. Everyone here knows that besides his status as an economist at the national economic think tank, he also serves as the honorary president of the Association for Foreign Economic Exchanges. To put it bluntly, this so-called foreign economic exchange association is an economic espionage organization, but the exchange activities of these associations are protected by the laws of various countries.

  Everyone was dumbfounded by what Wu Lu said, and no one thought of how to refute it for a long time. Most of them attributed the depreciation of the ruble to external phenomena such as industrial collapse, oligopoly, and economic chaos after the former Soviet Union, and did not expect that there was such a deep reason.

  Among them, some people with active minds looked at Zhuge Guan, and seeing that the chief's face remained unchanged, without any surprise, they knew that what Wu Lu said was absolutely true.

"Since you attribute the situation in Thailand and other countries to the problems in the country's economic development, can you explain why at the end of 1996, there was a sudden increase in the forward contracts in Thailand, and the expiration time of these forward contracts Is it mostly between July and August? Also, despite the slowdown in Japan’s economic growth and the sluggish domestic market in the past few years, why does the Japanese market’s investment in Southeast Asia not increase but decrease, and there is even a tendency to return a large amount of money? ?"

"Apart from these, can you explain the various rumors that broke out in the market during the worst days of the currency crisis? How can you explain that most of the funds withdrawn from Thailand are through these few multinational banks channel?" At this point, Wu Lu pointed to the report in his hand, his expression was no longer filled with righteous indignation, but deeply disappointed.

After everyone digested it for a while, he said slowly: "The bond crisis in 1994 was an economic war between Europe and the United States, which also involved Japan. These countries or organizations are the economic focus of the entire world. They had no ability to get involved in it. The subsequent US-Japan trade negotiations were completely retaliation by the US for Japan’s involvement in the 1994 bond crisis. There is no pressure on the yuan, and it will no longer appreciate. As a result, the United States has no opponents for the time being, and it has turned its entire target to Asia, especially those regions with rapid economic growth. The attack has become inevitable!" Wu Lu said here, after a pause, he said: "When it comes to the estimate of the attack is inaccurate, it should be harvested, just like the crops that have been planted, and they will start to do it when the time comes."

After talking for so long, Wu Lu was obviously exhausted. He sat down slowly, glanced at Zhuge Pavilion, and continued: "Obviously, this is an economic war. We should be vigilant and alert enough to this." Have a clear understanding and stop having illusions. I don’t deny that the free market is good, but we cannot give up the government’s control of the market until we have a sufficient economic foundation and the right to speak. "

  Obviously, Wu Lu chose this meeting to attack the recently popular free market economic theory.

   Immediately, several people's expressions became unnatural. They are all the people who have been clamoring for the most active market economy recently. It is obvious that Wu Lu's words refuted them completely.

Fortunately, at this time, Zhugeguan coughed lightly, interrupted Wu Lu's long speech, and said, "Mr. Wu, thank you for your lecture. According to the information and feedback we have received, we can already confirm that this currency crisis is Mr. Wu’s judgment is correct about the economic war instigated by the U.S. government behind the scenes and some consortiums are used as tools in the front. Now, let’s talk about what we can do at this stage.”

"Even if it's an economic war, I'm afraid it won't pose too much threat to us, right? Moreover, the currencies of Southeast Asian countries float freely. Out of concerns about the exchange rate, some of these countries' funds will be diverted to our country. We should have good news." After a long silence, a Ministry of Finance official named Wang Qiushi said.

"No, things are not as easy as we imagined. Although the renminbi is not freely convertible now, if there is too much difference between the underground exchange rate and the official exchange rate, this will cause great pressure on the depreciation of the renminbi. Illegal channels flow into the country, which will cause great trouble to our work." As soon as Wang Qiushi finished speaking, the central bank official retorted.

As soon as the central bank officials finished speaking, the Hong Kong and Macao Affairs Office officials continued: "Although we are laymen and don't know much about economic work, if Hong Kong's economy has fallen sharply in just a few months after the return of Hong Kong. If not, then the international community will definitely have doubts about our ability to govern Hong Kong, and then various voices will come out one after another, which will put a lot of pressure on our work."

   Immediately afterwards, various officials, including the Organization Department, expressed their views, and the atmosphere in the conference room reached a climax.

  Song Ling also participated in this meeting as a representative of Hua-funded Hong Kong-listed companies, but he was completely unqualified to speak at such a high-level meeting, so he could only listen silently. He knew very well in his heart that although they were arguing non-stop at this time, when the final plan was finalized, people like him were still needed to implement it.

  …

  Zhuge Guan felt headaches for a while. Financial work was in his charge, but Hong Kong and Macau affairs were not in his charge. Although he has fully proved his ability in his current position, the current situation still makes him feel unable to use his hands and feet.

"Enough!" As the leader at the highest level present, he had to control the progress of the meeting so that the discussion would not deviate too much from the established direction. For this reason, he patted the table, "The problem before us is how to solve it Problems, not complaining. If we can solve the relevant problems smoothly, these hypothetical problems will not arise, and you, you, and you will not just complain!" He said and pointed A few people who complained earlier.

  The faces of the people he pointed to turned pale. Obviously, they didn't know much about the extremely pragmatic attitude of the Zhuge Pavilion, after all, they didn't have much affiliation with each other. However, being choked up by the Zhuge Pavilion, I believe it will definitely leave a deep impression on these overly bureaucratic people.

Sure enough, the voice of complaints quickly disappeared, and the officials and experts present at the meeting began to discuss the corresponding solutions. I have to say that these officials in charge of the economy are experts. After several hours of discussion, they decided A set of coping strategies that I believe to be effective.

They believe that under the current economic situation, the impact of the currency crisis in Southeast Asia on the renminbi is not too great. It is too early to discuss whether the renminbi will depreciate, and we need to discuss it according to the progress of the situation. Take a relatively optimistic attitude.

In addition to these, the meeting also passed a resolution, which is to transfer part of the US dollar funds from the account of the State Administration of Foreign Exchange to support the Hong Kong market. These funds will be invested in the Hong Kong stock market through Chinese-funded listed companies in Hong Kong. When necessary To support Hong Kong's economy, the departments in charge of Hong Kong and Macau supervise the movement of this part of the funds.

  In addition, the inflow of hot money has also been written into the resolutions of the meeting. Activities such as underground money houses and money laundering will be the focus of the central bank's attention in the future, especially in the eastern part of Guangdong, which is at the forefront of reform.

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  (end of this chapter)