Subsequently, led by Soros, several prominent experts and scholars from the United States, the United States, and the United Kingdom came forward to condemn the Hong Kong authorities.
Because Soros sought out influential figures in the financial field, whose words carried significant weight in the economic development of various countries, the Hong Kong Monetary Authority was quickly thrust into the spotlight.
Although the Hang Seng Index is still rising, neutral international speculators are no longer optimistic about Hong Kong's free market. International Economic News and financial magazines have also been pessimistic about Hong Kong's economy, believing that the only outcome of a destroyed free market is decline.
Some even blamed the economic downturn on the government, arguing that rural governments had long been constrained by similar official restrictions, which led to the Hang Seng Index's dramatic drop below the bottom line.
A few days later, the criticism continued to escalate, and the Federal Reserve itself stepped forward to express its position in the international media, criticizing the Hong Kong government's bailout measures, which immediately pushed the criticism of Hong Kong to a climax.
In recent years, the United States has printed a large amount of money domestically, which has not only failed to damage the domestic economy, but has also successfully transferred domestic inflation to Southeast Asia, China and other regions. Although these inside stories are not known to the public, the Federal Reserve's influence in the global stock market over the years and the support agreements it has signed with Southeast Asia, various countries, H, and island nations are enough to demonstrate the Federal Reserve's status in the world stock market.
The Federal Reserve's criticism of the Hong Kong authorities demonstrates its stance. Hong Kong, which even the guru of the American free market has no confidence in, quickly fell into a wave of public criticism.
Meanwhile, Soros further fueled the fire at the Hong Kong Monetary Authority, repeatedly hinting to the public that rating agencies such as S&P would downgrade the Hong Kong government's credit rating.
Standard & Poor's is a leading global financial information and analysis firm, and its credit ratings are of paramount importance to the stock market.
When the news reached Longteng, Wangcai Ma Guoliang panicked.
“Soros and the Federal Reserve’s words don’t stand up to scrutiny, but if Standard & Poor’s really does downgrade Hong Kong’s stock credit rating, it will be very difficult for us to eliminate the negative impact.” Wangcai anxiously found Chen Dong and said to him, “If Soros can really control Standard & Poor’s rating, then we will be the passive party.”
After hearing this, Chen Dong was somewhat dismissive. "They say these things to make the International Economic Review put Hong Kong in the spotlight. Standard & Poor's and the Federal Reserve are just tools of Soros."
"However, I am curious: as the global leader in the credit rating industry and generally regarded as the recognized standard in the financial investment field, would Standard & Poor's really be controlled by the Soros Group?"
These words sent a chill down the spines of Wangzai and Ma Guoliang.
“That’s hard to say,” Ma Guoliang said with a serious expression. “The forces behind the Soros Group are complex and intertwined. Although S&P claims to provide independent credit rating index services and risk assessments for the global capital market, in the end, these are all manipulated by people. There is a lot of room for manipulation in this process.”
After so many years of struggling in the stock market, Ma Guoliang no longer believes in so-called standard independent credit or the free market touted by Soros.
Ultimately, for these international speculators, experts and scholars with significant influence in the financial field, high-ranking government officials, and rating agencies are merely tools for them to exploit the market.
In order to seize the Hong Kong market and undermine the Hong Kong economy, Soros will stop at nothing.
Standard & Poor's is a bellwether in the financial sector and a compass for investors making various investments. If the Soros Group's influence has truly infiltrated Standard & Poor's, then the rating of Hong Kong's stock market will be threatened.
"Standard & Poor's." As Chen Dong read these words, he vaguely recalled his previous life, 11 years ago, when Standard & Poor's downgraded America's long-term sovereign credit rating, triggering a major stock market turmoil.
At the time, the US economy held a AAA credit rating for a long time, and the US government's total deficit accounted for 2% to 5% of GDP. However, due to the successive outbreaks of inflation and unemployment, the US government's deficit reached 11% of GDP in 2009.
Starting in April 2011, S&P set the outlook for the US credit rating to negative.
In its statement, S&P said the downgrade was due to concerns about the US deficit. Before downgrading the US credit rating, S&P placed it on negative watch and warned that if the US Congress and the Federal Reserve failed to take relevant measures to address the economic downturn and deficit exceeding the standard within two years, S&P would downgrade the US long-term sovereign rating to 2α+.
In short, once a market is placed on S&P's negative watch list, it means that the world's financial community's expectations for that market have been lowered to the negative watch stage.
In the previous life, S&P downgraded the US sovereign credit rating, triggering a global stock market turmoil, which in turn led to the US government and Congress putting continuous pressure on S&P.
at the same time.
The US Department of Justice and S&P executives also hope to salvage the current stock market turmoil by investigating S&P's handling of low credit and bond ratings and appointing a new president.
However, once the standards were issued, investors already had a concept of the ratings, so no matter what S&P executives and the US authorities did, stock market turmoil was already a foregone conclusion.
"Soros's move was really ruthless." The more Chen Dong thought about it, the more he felt that Soros's conspiracy was not limited to this. "The global financial market relies on Standard & Poor's to make independent and fair credit ratings. If S&P really downgrades Hong Kong's credit rating, this kind of blow would be like cutting off Hong Kong's lifeline."
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