In mid-May 1997, the governments of the Philippines and Singapore simultaneously announced that they would abandon the fixed exchange rate for their currencies and instead allow them to float freely.
The Freemasons have succeeded in their raid on the Southeast Asian currency market.
Southeast Asian currencies collapsed.
At this critical juncture, people aren't discussing the devaluation of the Philippine and Singaporean currencies, but rather the transformation of Asia Travel Company, as discussed by Chen Dong.
Ah Fang opened another branch next to her own braised food shop in Xiangjiang. After hiring some helpers, Chen Dong's life became much easier.
However, they still need to handle the procurement and proportioning of spices themselves, since this involves the secret recipe of the braising shop and they can't just ask a worker to do it for them.
The economic situation in Southeast Asia has descended into chaos, and various financial dailys and wealth news outlets in Hong Kong have reported on the disastrous collapse of Southeast Asian currencies.
Many economic experts predict that the economies of South Asian island nations will face even greater difficulties in the future.
Chen Dong looked at the newspapers with great interest, as if he were reading a storybook.
Seeing his interest in the newspaper, Afang asked him, "Do you really want to regain your memory?"
Chen Dong said casually, "In the past, when I read newspapers, I did want to find some information that felt familiar to me. But now I read newspapers because the recent developments in the Southeast Asian market are just too interesting."
“Investment companies from Europe, Southeast Asia, and even North America have entered the market one after another. It seems that they want to turn Southeast Asia into a gladiatorial arena and prepare to fight it out here.”
Afang asked, confused, "A fight? I didn't feel anything."
Chen Dong smiled and continued, "These all happened in Southeast Asia, in island nations."
"The currency crisis will first affect large and medium-sized enterprises, and then it will soon affect the lives of ordinary people in the local area."
Although Afang doesn't care about the economy, she got anxious after hearing Chen Dong say that it would affect us, and asked, "You mean the Southeast Asian currency crisis will also affect us?"
"A currency crisis leads to inflation, inflation triggers a financial storm, and the financial storm then leads to a credit crisis. All of this is predictable."
“Look at them now, some are playing the bad cop and some are playing the good cop in Southeast Asia, and they are taking turns to play the role. I think the decline in Southeast Asia is a foregone conclusion, and the financial crisis will soon reach Hong Kong.”
Although Afang couldn't understand, she had a feeling that Xiao Lu's world must be a world very far away from hers.
"Xiao Lu, did you work for a big company before?" Afang asked.
Chen Dong paused for a moment, then shook his head. "I don't remember."
Everyone is looking for Chen Dong; even the Freemasons have mobilized many secret mercenary groups in an attempt to find him.
But they searched every corner of China and still couldn't find any trace of Chen Dong.
Their focus has now shifted to the Southeast Asian market. This is not the first time the Freemasons have mobilized international speculative capital to reap profits in overseas currency markets.
They have almost established an effective process internally.
They begin by planning to attack a market, finding a front man to act on their behalf, squeezing the local financial system, shorting the currency, until the government gives up resistance.
By the end of May, the weather had become very hot. Chen Dong added tea and snack services to his newly opened braised food shop, attracting many tea drinkers to relax and enjoy themselves at the store.
Many tea drinkers were drinking tea and discussing recent economic policy trends inside the store.
With the Southeast Asian market already dominated by overseas conglomerates, the Hong Kong Monetary Authority is now on high alert, announcing several adjustments to deposit and interest policies in newspapers, television, and other public media.
The government intends to use policy measures to stabilize Hong Kong's currency and financial markets.
"I think that Hong Kong took precautions early this time, and the crisis in Southeast Asia should not affect us."
"What nonsense are you talking about? Southeast Asia and Hong Kong are separated by only a sea. Hong Kong is an open economic zone and already has many cooperative projects with those Southeast Asian countries."
Another tea drinker offered tea to the speaker, saying, "Let's not even talk about whether private businesses will be affected. Just the import and export trade between government agencies and Southeast Asia will definitely be affected."
“The currencies of the Philippines and Singapore have depreciated, so we can buy the same goods with less money, but this has certainly restricted our export trade.”
"Hong Kong is a window to foreign trade. Fluctuations in foreign trade will inevitably affect us and may even tie up our foreign exchange reserves."
Chen Dong listened silently from the side, only to feel that none of the Southeast Asian companies and groups were any match for him.
This is understandable, given that Southeast Asia has many seaports, and oil transactions between the Middle East and Asia almost always pass through Southeast Asia before being distributed outwards.
Other Asian goods also need to pass through Southeast Asia to reach Europe and Africa.
This has attracted a large influx of overseas funds, which has indeed revitalized Southeast Asia's financial system on a macro level, but has also increased the volatility of Southeast Asia's monetary and financial system.
Under this premise, as long as overseas capital exerts pressure, and several fund companies or investment companies jointly invest in Southeast Asia, it's like a machine that continuously flows out gold coins, and all the gold coins will end up in the pockets of international speculative capital.
Chen Dong served the tea drinkers a new cup of herbal tea and overheard one of them predict, "Maybe their next target is Hong Kong."
"Hong Kong is about to be returned to China. If we don't act now, we'll have to be mindful of the higher-ups' attitude once Hong Kong is returned to China."
Southeast Asia is already trapped, and Hong Kong is on the verge of being returned to China.
Now is the perfect time to take action against Hong Kong, and Soros and his team began to organize a group to conduct research on Hong Kong's financial system.
In Southeast Asia, they primarily use Asian travel capital to orchestrate attacks on the currencies of the Philippines and Singapore.
In Hong Kong, they primarily used Yellow River Capital, and also invited many other financial tycoons to participate in the overall research and analysis of Hong Kong's financial system.
Hong Kong's financial system is influenced by many factors, including the powerful clans and the unique economic system of Hong Kong, which is heavily influenced by the maritime law system.
Foreign-invested, Chinese-invested, and local enterprises are intertwined, and two distinct economic systems, one from the mainland and one from the sea, coexist in Hong Kong.
Most importantly, due to historical issues, Hong Kong's political and financial situation is extremely chaotic, with interconnected and intertwined branches behind the scenes.
Without local businesses and influential figures to guide the way, it's difficult to get in.
Poro, a partner at Yellow River Capital, and his former partner Cyber, participated in negotiations with Soros International Speculative Capital.
“Hong Kong has a huge amount of foreign exchange reserves. If we can successfully take it down, it will indeed be a lucrative prize,” Cyber said.
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