Soon, time flew by and it was the end of 1997.
Wujiang Group has spent nearly $100 billion on a buying spree in Southeast Asia, and has already captured a large market share in industries such as retail, tourism, telecommunications, electricity, residential water, and transportation.
Zhao Ye also began to experiment with using RMB for trade settlement between the two sides.
In any case, you can use RMB as long as you make a purchase at Wujiang Group's supermarkets, hotels, or scenic spots.
Chinese people love to travel once they have money. Wujiang Group's ability to offer RMB settlement in Southeast Asia will definitely attract more Chinese tourists.
This can be considered as promoting the internationalization of people.
With the increasing trade volume between Southeast Asian countries and China, coupled with the influence of Wujiang Group in Southeast Asian countries, it will likely be easier to promote the internationalization of the RMB in the future.
Moreover, Southeast Asian countries don't actually have much US dollars, so being able to use RMB for settlement is absolutely beneficial for them.
It only harms the interests of country M.
Of course, the US will not sit idly by and may resort to coercion and enticement against Southeast Asian countries.
Given the current powerful military strength of country M.
Southeast Asian countries might not dare to utter a single word.
China's current focus is on economic development; only with a strong economy can it have sufficient financial resources to develop its military. In recent years, China's technological development has been rapid, and its military industry has reaped huge profits, resulting in a rapid increase in military strength. It is anticipated that in the 21st century, China will be a formidable force.
...
1998, at the beginning of the new year.
As the economies of Southeast Asian countries gradually recover, Japan and South Korea begin to suffer.
With nowhere to vent their anger, Soros and others could only frantically attack Japan and South Korea.
The stock markets in Japan and South Korea have plummeted, and their economies have suffered severe declines.
Banks and factories went bankrupt one after another.
Tens of thousands of people lost their jobs.
Japan, in particular, experienced a huge economic crisis a few years ago, which led to a sharp decline in the Japanese economy. Many Japanese people are still wary when they see a stock market crash.
South Korea's economic strength is even weaker than Japan's, making it extremely difficult to withstand the financial crisis.
Samsung, Hyundai, Daewoo, LG, Lotte, POSCO... these are all tempting targets!
The South Korean market is relatively conservative and xenophobic, with significant monopolies by conglomerates.
In its previous life, the United States also took advantage of the Asian financial crisis to extend its reach into the South Korean market, thereby gaining control over many South Korean conglomerates and companies.
Zhao Ye couldn't help but extend his reach to South Korea as well...
(End of this chapter)
Continue read on readnovelmtl.com
