"Definitely not! Don't worry!"
"Jiafeng's issue is still under negotiation. It won't harm your interests, but you need to be prepared to talk. This matter needs to be resolved eventually. Right now, you want the R&D company to be privatized, right? Then we'll work towards that goal!"
"Okay, okay! Anyway, we've done everything we were supposed to do, so don't worry, thank you, thank you!" Lu Feng kept thanking them until the other party hung up the phone before putting down the receiver.
Lu Feng now felt more confident. It seemed that the communication with the higher-ups had been somewhat effective. The previous suggestion was to have the local government accept Schroder Group's shares, but they refused to sell. Now it seemed that they also thought that privatizing the R&D company was a good approach.
As for how many people will lose their jobs after Jiafeng becomes a foreign-invested enterprise, I believe they have estimated it as well. This is the result of a game played at various levels.
That night, the Thai Ministry of Finance held an internal meeting. Maha was there and explained Lu Feng's plan. Many people present objected, saying that this would be a huge blow to foreign investment, affecting not only the stock market and businesses, but also cargo and ports.
Imagine a Thai businessman hiring a cargo ship to transport soybeans from the United States. He has prepared two billion baht, but the ship is only half-loaded when he runs out of money.
This practice is a disaster for the foreign trade industry!
"So this is called asphyxiation therapy. In at most half a month, the exchange rate will rise." Maha said confidently, "This is currently the only way to save Thailand."
No one at the scene spoke; everyone was cursing inwardly. Who was the bastard who gave him this idea? It was indeed a suffocating therapy, suffocating all industries across the country for more than half a month. Once the exchange rate rises, everyone can breathe again, but what if the exchange rate doesn't rise?
"I still believe that seeking international assistance remains the primary solution," the finance official said.
Everyone present nodded in agreement, but their agreement was useless. At this point, they couldn't control anything. They all knew what Maha represented.
After a series of discussions, Maha finally made the decision to implement the suffocation plan, and the finance director resigned on the spot.
The following day, some Thai media outlets began reporting that economic data was fabricated and factories had shut down. The authorities refuted these reports that day, but some media outlets published photos or videos of factories overgrown with weeds, idle young people on the streets, and banks with a large number of bad debts.
When this news reached the West, it instantly excited countless short-selling institutions. All their previous reports were based on estimates using publicly available data such as customs data, corporate operating data, bank data, and GDP.
It now appears that these figures may be heavily falsified. They originally thought that shorting by 50% would be enough, but now it seems that they need to at least double that amount.
As soon as the foreign exchange market opened that day, a large number of Thai baht were frantically sold off. In just 25 minutes, the fixed exchange rate was broken, and the price of the Thai baht began to fall freely.
Thailand has announced that it will abandon its peg to the US dollar and has locked down some key companies and its ports for import and export goods. Unless it is an emergency and requires special approval, the goods can only enter the customs.
Upon hearing this news, the Thai baht plummeted to 35 baht to one US dollar that day, with short-selling forces seemingly having no way to penetrate its territory.
When Lu Feng saw these messages, he felt his scalp tingle. He never dreamed that Maha would actually push this matter forward. What would he do if it bankrupted Thailand?
Lu Feng began to feel a sense of lingering fear. If that had really happened, not to mention Maha, the assets of many top Thai businessmen would have shrunk by 90% overnight. For major businessmen burdened with dollar debt, bankruptcy overnight would be no joke.
Whether these people killed Lu Feng before jumping off the building, nobody knows!
Lu Feng wanted to report the matter, but he was afraid that he would be held responsible if he messed it up. Jia Feng's matter was at a critical stage.
Just as I was thinking it over, the phone rang.
Lu Feng answered the phone, and Maha's Thai voice came from the other end. The translator next to him said, "Mr. Lu, it has been done according to your method. This can be considered a solution. We hope you can get international capital in as soon as possible."
Lu Feng forced a couple of laughs and said, "No problem, but we have to short it to the bottom first before it can rebound."
On Wall Street, Quantum Fund and Tiger Fund were all somewhat bewildered by today's Thai baht exchange rate fluctuations and the news.
What happened?
I wanted to hit him, and not only did he not fight back, but he also lay on the ground without even protecting his head.
Is this guy trying to extort money from me?
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