The development of new energy abroad is worlds apart from that of China!
In particular, the US was experiencing a subprime mortgage crisis, leading to a severe economic recession. Countless people lost their jobs and became homeless, with many resorting to drugs to numb their pain. On the streets of many US cities, one could see many people looking like zombies from a movie: lifeless eyes, disheveled hair, arms hanging limply, swaying with every step, a sight that inspired fear, a dread that they might suddenly pounce and tear one apart like zombies.
In this lifetime, the subprime mortgage crisis in the United States seems to be even more severe, which is already a problem.
The key point is that in this lifetime, country M is not ahead of other countries in terms of economy and technology.
Therefore, it will be difficult for the United States to recover in a short period of time after the subprime mortgage crisis.
As the saying goes, "when a wall falls, everyone pushes it down." While people won't actually do that because the US still has considerable military strength, global capital has already abandoned the US and turned to China.
Furthermore, with the RMB gaining international influence, attempts by other countries to exploit it are becoming less effective than before.
Undoubtedly, China will not let this opportunity slip by to expand its influence, including promoting the internationalization of the RMB, strengthening bilateral trade with multiple countries, and advancing the "Belt and Road" initiative, among other things.
Under Zhao Ye's instructions, Galaxy Financial Company not only avoided losses during the US subprime mortgage crisis, but also made a fortune.
In fact, before the subprime mortgage crisis broke out, Galaxy Bank and Standard Chartered Bank also held a lot of CDS contracts (credit default swaps). These CDS contracts were originally a kind of insurance carefully designed by bankers to avoid leverage risk. As long as US housing prices did not fall and as long as a large number of default contracts were not generated, CDS contracts would be profitable.
As a result, CDS gradually developed into a financial derivative product in the United States, and its scale has grown larger and larger. The total market value of CDS has been speculated to reach 62 trillion US dollars.
Before the subprime mortgage crisis broke out, Galaxy Bank and Standard Chartered Bank sold CDs to other banks and shorted US real estate.
The US real estate industry was already on the verge of collapse, and this move directly caused the other party to crumble.
The collapse of the US real estate market naturally led to a large number of defaulted contracts, which in turn triggered the US subprime mortgage crisis.
Even without the instigation of Galaxy Bank and Standard Chartered Bank, the US subprime mortgage crisis would have still occurred.
Since that's the case, why not let Galaxy Bank and Standard Chartered Bank give you a push?
You're welcome, all Chinese people are living Lei Fengs...
While Zhao Ye watched the subprime mortgage crisis unfold in the United States with amusement, he also began to worry about the earthquake in May, casting a shadow over his incredibly handsome face...
(End of this chapter)
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