30.09.
"It was simply a disaster," Du Xingzhi commented.
The world's stock markets are volatile, but Taiwan is a small place that is not a financial center. As long as they can guard the border, the stock market index can still remain stable.
However, in order to win the favor of the United States, they were still foolishly waiting for their master to give orders while the Federal Reserve was taking action in Southeast Asia.
At this time, with the market doors open, Taiwan Province is easily affected by the Hong Kong stock market and markets in China and Southeast Asia.
Since Taiwan announced that the New Taiwan Dollar would enter a free-floating phase, its industries have been severely impacted, and the region's economic situation has become increasingly sluggish.
This situation has triggered panic in the already turbulent Hong Kong dollar market.
Major investors and manufacturers in Taiwan fled one after another. No relevant rescue policies were formulated on the island. This time, their financial market collapsed like a house of cards, and they were bought up at rock-bottom prices with almost no resistance.
Insiders have discussed that both international speculators and the Hong Kong Monetary Authority (HKMA) have substantial financial backing.
When two tigers fight, innocent bystanders are also affected.
Taiwan Province truly suffered an unjust defeat in this wave.
Following the announcement by the head of Taiwan's finance department that the currency would enter a free-floating phase, the Hong Kong Monetary Authority issued a statement:
"Hong Kong has been hit by foreign speculative funds in recent times. The series of policies introduced by the Hong Kong Monetary Authority are only to combat the speculation of Hong Kong dollars."
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