"At present, we are not capable of perfectly dealing with the fluctuations in the Hong Kong stock market and the financial market crisis on our own."
"I suggest that our Hong Kong government formally seek protection from Beijing."
"In addition, we need to join forces with Chinese-funded institutions to jointly resist financial risks and save Hong Kong stocks, which have been sluggish for days."
After he said this, the bigwigs present all nodded in agreement.
Li Ka-shing still wields some influence among powerful families, and people enjoy listening to his words.
The Financial Secretary of Hong Kong said with some difficulty, "Hong Kong is a free market, and we can indeed make macro-level adjustments to the market economy through fiscal, investment, and banking policies, etc."
"However, if we openly intervene in the financial market, it is likely to attract criticism from the international community."
Li Ka-shing looked at him, his expression turning serious, and said in a deep voice, "Is the title of 'free market' of the Hong Kong government more important, or the lives of ordinary people in Hong Kong?"
"If the financial crisis threatens Hong Kong, it will not be the large and medium-sized enterprises in Hong Kong that will be affected, but the ordinary people will suffer more."
At this point, the high-ranking government officials attending the meeting fell silent. Li Ka-shing then said, "In the end, all four of our families have left themselves a way out. The only way out we have is Hong Kong's financial market."
He really went too far with his words; the government official turned green with anger upon hearing them.
"Whether the government prioritizes fame, profit, or reputation is up to you to decide."
After saying that, Li Jiacheng left the conference room with his assistant.
The remaining Guo, Li, and Zheng families also left.
The meeting reached a stalemate, and the head of the Monetary Authority quickly said with a smile, "Let's continue the discussion."
"In fact, these economic policies still require guidance from professionals."
"The Hong Kong financial crisis is a matter of great concern to the people of Hong Kong. Please speak freely. How Hong Kong will formulate strategies to cope with the financial storm and minimize the impact of the currency crisis depends on your efforts..."
All the economists and government officials present wore stiff smiles.
To be honest, their enemy this time is Soros, the culprit behind shorting currencies, who is backed by powerful financial institutions and international funds.
If Soros really has his eye on Hong Kong dollars, it will be difficult for them to find a policy solution.
Many people have even started spouting nonsense: "To deal with Soros's attack on the Hong Kong dollar, it's simple! Just send mercenaries to take Soros out."
“You agree with your point of view,” a very refined scholar in a suit and tie with gold-rimmed glasses joked. “A scoundrel like Soros should have been dealt with long ago.”
"Forget it, their speculative activities are all within the framework of the law. You want to bribe mercenaries? Is this still Hong Kong in the 1990s?"
Hong Kong is, after all, a peaceful world, so these kinds of nonsense are just something people say and then forget about.
The last time the Thai baht currency system collapsed, factories across Southeast Asia went bankrupt one after another, and chaos ensued, including inflation, bank failures, and company layoffs. The memory is still fresh.
It's impossible to say they have absolutely no psychological trauma.
It's impossible to say they didn't want to find a solution.
However, how to respond, how to adjust, which policies to implement openly, and which methods to use covertly are all matters of expertise.
The meeting, organized by the Hong Kong government, lasted for four or five hours. Many economists and researchers spoke freely and came up with a number of solutions, but they have not yet reached a conclusion on the most crucial decision.
The best decision right now is to remain still if the enemy doesn't move.
Soros is only conducting market research and has not yet formally launched a challenge to Hong Kong's financial market. Hong Kong government agencies can only make preparations in advance, but cannot intervene prematurely, otherwise they will also disrupt the market.
That day, Afang's mother, who never paid attention to the economy, saw an expert on TV predicting that housing prices might fall, and she became very anxious.
They only have this one store in Hong Kong, which they bought with a loan back then. If property prices drop, she'll lose a fortune.
Chen Dong was also reading the Hong Kong Financial Daily, but he wasn't looking at housing prices; instead, he was reading about Soros's speech at the Hong Kong Convention and Exhibition Centre.
"The instability of the currency situation in Southeast Asia will affect all free market businesses, financial institutions, and local people."
“On behalf of the International Monetary Fund, we have repeatedly warned the financial authorities of the Philippines and Singapore to adjust their economic policies in a timely manner, but the government agencies are unwilling to trust us.”
Soros portrayed himself as an economist, adopting an attitude of being marginalized by the upper echelons of the government.
"Ladies and gentlemen, when a country's monetary system has problems, it is absolutely not something that a single fund company can control."
"Financial security is related to the safety of people's funds and property. I have always adhered to the principle that the war in the monetary and financial field must never be fought at the expense of the safety of ordinary people's funds."
Newspapers described Soros's speech as "a crocodile shedding golden tears."
Chen Dong looked down and saw the rest of the speech.
“We did participate in shorting the Thai baht some time ago, but I must explain for the international speculative capital I represent: the currency problem has long existed in the country, and a currency crisis was bound to break out in Thailand sooner or later.”
In the newspaper, Soros's photo showed him looking extremely distressed, saying, "My investment firm and I were simply following the trend and entering the Thai baht currency market at the critical moment when the baht was about to collapse."
"Perhaps our involvement has accelerated the collapse of the Thai monetary system, but I assure you that we are just one of many Asian capitals, and we entered the Thai currency market in accordance with laws and regulations."
“All actions have remained within the legal framework, and all strategies are merely speculative activities based on Thailand’s specific monetary and financial system. The actions comply with laws and regulations.”
"Now, after adjusting their monetary and financial policies, the governments of Southeast Asian countries have initially established a more complete and stable monetary and financial structure."
Soros shamelessly commented, "This can be considered our contribution to the Southeast Asian economy."
"The financial storm that everyone feared has long passed. A currency crisis will only break out in a specific region in a short period of time. Please, everyone and all media reporters, do not exaggerate the dangers."
Soros's speech on the changes in Southeast Asia has, on the one hand, awakened the shadow left by the financial crisis in people's minds.
On the other hand, it also serves as a reminder to the citizens of Hong Kong, as well as to the large and small businesses and powerful families in Hong Kong, that if they were to take action, Hong Kong would inevitably fall.
...
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