"Of course, Soros will still maintain his regular cooperation with HSBC. HSBC is currently embroiled in a media storm, so he certainly can't trust it as wholeheartedly as before, otherwise it could very well disrupt his plans in Southeast Asia."
Chen Dong silently jotted down these scattered pieces of information while casually eating his snacks.
In recent days, the Indonesian government has been actively engaging with the Federal Reserve and the International Monetary Fund, signing numerous cooperation projects, and the Indonesian rupiah is gradually appreciating.
Hedge funds have their own people in governments at all levels around the world. I don't know what news Soros heard that made him rush to Indonesia to invest in the Indonesian rupiah.
When he launched his hedge fund attack on the Hong Kong dollar, he conducted extensive market research before deciding to take action.
But this time, he entered the Indonesian market with almost no preparation, as if he had everything under control.
George Soros graduated from the London School of Economics and was a trader by profession. He has keen insight and extremely strong execution ability. Whether it is attacking the British pound or shorting the Thai baht, every move he makes achieves the expected results.
Apart from misjudging the island nation's stock market in 1987, which caused Quantum Capital's net assets to evaporate by 26.2%, and the recent backlash from shorting the Hong Kong dollar, he has almost never made a mistake.
This time, he's targeting the Indonesian market.
Indonesia is an archipelago nation located in the tropics. It has thousands of excellent ports, a humid climate year-round, well-developed maritime transport, and a vast foreign trade market.
After the economic crisis broke out in Southeast Asia, the Indonesian government quickly learned its lesson. They knew that the international hedge funds behind Soros were powerful and could not be dealt with by them alone.
Southeast Asian countries, such as Malaysia, Thailand, and Vietnam, have complex and chaotic factional struggles due to historical reasons, resulting in a delicate atmosphere among these countries.
In particular, Indonesia and Malaysia, although the two countries share the same political and cultural background, have seen a strong rise in Malaysia since their separation, while Indonesia, unable to break free from religious constraints, has fallen behind.
The Southeast Asian currency crisis rendered the Thai baht worthless and triggered financial bubbles in the Philippines and Singapore.
Suharto and the Indonesian Ministry of Finance reached a consensus that it was better to surrender and feign death than to confront international speculative capital head-on.
The Indonesian government seeks only stability, not progress.
Under such guidance, it seems perfectly normal for the Indonesian rupiah to depreciate voluntarily.
Chen Dong's prediction was correct. Shortly after his conversation with Barker, the International Monetary Fund issued a statement on its official website, indicating that it would continue to support the Southeast Asian economy and help Southeast Asian governments overcome the financial crisis.
The statement also emphasized that it would focus on boosting the Indonesian economy and provide targeted economic assistance programs.
Currently, the exchange rate of the Indonesian Rupiah to the US dollar has reached 3,550 Rupiahs.
Financial channels in Hong Kong and mainland China, along with analysts and dozens of experts and scholars, after compiling and studying all recent policy and situational changes, have reached the same conclusion: the Indonesian rupiah will experience a strong appreciation.
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