The Sumitomo copper scandal that occurred in 1994 was a major event in financial history.
Sumitomo Corporation is the world’s largest copper product operator and exporter.
As early as the 1950s, the trading company gradually became the third largest and most powerful financial conglomerate in Japan and one of the largest trading companies in Japan, with Sumitomo Corporation being the core entity of the entire Sumitomo Group.
In 1996, Sumitomo Corporation issued a statement saying that Yasuo Hamanaka, the head of the company's non-ferrous metals trading department and chief trader, had been engaged in unauthorized international futures trading for a long time, causing Sumitomo Corporation to suffer a huge loss of US$1.8 billion.
Now that Chen Dong has prior knowledge of this matter, he can certainly intervene in advance and make arrangements ahead of time.
He had no reason not to make money off the Japanese.
Now is the time to assign tasks, and entering the copper futures market is a good opportunity.
In the copper futures market, since Sumitomo accounts for more than 80% of the trading volume, Chen Dong will make very little money.
However, he was not in a hurry. He first instructed Wangcai to buy long positions in copper futures and open multiple accounts to keep the total trading volume below 5%.
All that's left is to wait for the right opportunity. In other words, he just needs to wait for Hamanaka Yasuo to make all sorts of crazy moves, and then seize the chance to strike.
In fact, both the schemes of Yasuo Hamanaka and the one that brought down Barings Bank succeeded because of inadequate regulation.
Therefore, regulation is extremely important in the financial sector, especially in the financial derivatives market.
Chen Dong was also extremely wary of this.
In the operation of offshore companies, he also tries to strengthen supervision to avoid situations where supervision is inadequate.
Just like his warning to these traders, it's a way to prevent them from engaging in any shady practices.
Of course, Chen Dong does not believe that verbal warnings alone can be very effective. The most important thing is to establish a system and form a long-term mechanism to effectively strengthen supervision.
When it comes to exchange rate issues, it's not just island nations that are facing this problem; China is also experiencing significant exchange rate fluctuations, with the RMB depreciating considerably.
Chen Dong also knew one thing: in that year, the exchange rate of RMB to USD would suddenly depreciate from 5 RMB to 1 USD to 8.65 RMB to 1 USD.
Of course, he didn't want to profit from the price difference.
Actually, he got a great deal when he bought a house in Shenzhen two years ago with a loan from China Construction Bank.
However, at that time, every penny was important to him, so this was the only way to proceed.
If he doesn't say anything, people won't think anything of it and will just assume he's lucky.
However, he knew that his advantage of having foresight allowed him to do this, which meant he was taking advantage of the situation.
Of course, money is still very important to him now, and as an investor, he must control costs, reduce risks, and prevent investment mistakes.
After giving instructions to Wangcai and asking him to further investigate whether there were any loopholes in the company's supervision, Chen Dong then went to Huaxia Star.
When Chen Dong entered the company, he was greeted by many employees.
Many of them are beautiful women.
There's no way around it; Huaxia Star is an entertainment company, full of handsome men and beautiful women.
"The boss is so handsome!"
"Yes, he's even more handsome than before."
"I was so nervous when I greeted him just now!"
These beautiful women all seemed very enthusiastic, unlike their reserved demeanor when facing others.
Some people harbor ulterior motives.
They knew that Zhou Huimin used to be just a small-time actress. But things changed after she met Chen Dong; now she's the company's general manager.
How wonderful it would be if this kind of transformation from a sparrow to a phoenix happened to me!
Well, if I perform well, I might be able to oust Vivian Chow and successfully take her place!
However, Chen Dong didn't have any particular feelings for them.
When Chen Dong arrived at Zhou Huimin's office, she was giving instructions to one of her subordinates.
Seeing how decisive and efficient she is now, Chen Dong felt very gratified.
In particular, the way she looked in her office uniform caught Chen Dong's eye.
It was a completely different image of a career woman from the past.
Of course, Vivian Chow has had similarly handsome performances before, but Chen Dong just didn't pay special attention to them.
Or rather, Zhou Huimin's current temperament is even more prominent, which is why she attracted Chen Dong's special attention.
I must say, this kind of work is really good for personal development, especially management work.
Chen Dong also secretly praised himself for his wise decision to support her in doing this kind of work.
After speaking to her subordinates, Zhou Huimin suddenly looked up and found Chen Dong staring intently at her with a burning gaze.
She stood up abruptly, her face slightly flushed, and said, "Brother Dong, what brings you here? Why didn't you rest at home a little longer? Why did you come here?"
"Hehe, I've rested enough! I've rested for many days..." Chen Dong said to her with a complicated expression.
Hearing Chen Dong's words, Zhou Huimin's eyes lit up. It seemed that Chen Dong had realized that he had been indulging in grief for too long.
This is a good thing!
Then a bright smile appeared on her face. "It's so good that you've come to your senses!"
"But you, you took care of me all night last night, look at you, you even have dark circles under your eyes!" Chen continued, his expression sly.
"Oh, really?" Zhu Huimin said, but she didn't get up or go to get a mirror. Instead, she said calmly, "But it's okay, it's just one night. Besides, I'm mainly in management now, so I don't need to maintain any image."
"Oh, no, you must take good care of yourself, otherwise, if my Jade Maiden Sect Leader is gone, who will I complain to?"
"Hehe, sit down quickly... It's not as exaggerated as you say." Zhou Huimin pulled Chen Dong to sit down.
Then, she closed the door and snuggled into his arms.
"I want to sincerely thank you for your selfless dedication to me!" Chen Dong hugged her and whispered in her ear.
“Oh, am I your girlfriend? It’s only right that I do these things and take care of you!” Zhou Huimin said softly.
The voice was so soft, it was like a murmur.
The atmosphere gradually became ambiguous.
Chen Dong's Adam's apple bobbed slightly, as if sending a signal.
Vivian Chow's face flushed, and she gave him a very charmingly disdainful look.
Next, it was time for the Source Force Warriors to make their appearance.
This time, the Source Force Warriors protected themselves very well, fully armed.
"You?"
"You dare challenge me?"
Vivian Chow pilots the legendary mecha with a disdainful expression.
The Source Force Warrior was furious: "Miss Zhou, don't speak so confidently."
As she spoke, a flurry of chopping motions made Zhou Huimin abandon her contempt.
The Source Warrior pressed his advantage, unleashing his ultimate skill, "Source Blast."
Unable to withstand the attack, Zhou Huimin immediately knelt down and begged for mercy, dying in the Northwest... (omitting ten thousand words).
......
Continue read on readnovelmtl.com
