Jiao Enfan couldn't help but feel happy when he heard the topic they were going to talk about. Lu Feng had never been abroad, and talking to him about international finance was just asking for trouble.
Chang Wanteng also breathed a slight sigh of relief. This was something he himself had said: Jiao Enfan didn't understand the domestic market very well. Although he positioned it as a high-end brand, backed by foreign capital, and created the price of luxury goods, no one had ever taken this path before.
"Many of the people here may also frequently travel abroad for business and have some experience with investment and funds. I know quite a bit about it; I interned at Goldman Sachs."
Jiao Enfan, holding the microphone, calmly said, "Everyone is aware of the power of Wall Street finance. There is a huge market for finance, stocks, funds, and investments all over the world. Not to mention the stock market and venture capital, I was responsible for liaising with a large insurance company during my internship there. I will only mention one point."
"If you're in China and you're dirt poor, you might have the skills but no capital, what can you do? There's no way to make money here. You can only rely on relatives. But it's different over there. As long as you have good credit and are a good person, you only need to sign a personal loan. This loan can be used to pay the down payment for a house. People there live in villas."
"Are banks afraid you won't repay the money? Yes, they are. That's where they dare to play. They will go through insurance companies and sign a risk hedging insurance policy for you. If you can't repay the money, the insurance company will repay it for you. A complete financial system gives a poor man who has fallen on hard times a new life."
“I have personally helped these people process a considerable number of loans. All they need is good credit, a signature, and the next day they will walk out of their villa in a suit and tie, or even drive a brand-new Cadillac to interview for a respectable job.”
"A complete financial system and caring services for the poor are a new beginning compared to our despair. During my internship, I sometimes became friends with these people and visited their homes. When we talked about our hardships, they would always have tears in their eyes. We would hug each other and tell each other that everything was over."
As Jiao Enfan spoke, tears welled up in his eyes. Lu Feng had always thought that the 2008 subprime mortgage crisis was caused by the accumulation that began in the early 2000s, but he never expected that Wall Street would start playing this game now.
People today have an inexplicable sense of worship for the West. The lower classes are fine, but these elites carry a certain sense of superiority. When they talk about their experience working on Wall Street, their eyes shine, as if this experience is the glory of their entire lives.
Lu Feng sat there listening, but it was mostly superficial knowledge, enough to fool the average person. It didn't touch on any major topics such as the contemporary global economic structure, the industrial structure of Asia, the industrial transfer accompanying the successful rise of the Four Asian Tigers and the shift of Wall Street's financial center.
"I've finished speaking, thank you!" Jiao Enfan said, putting down the microphone and giving Lu Feng a smile.
A round of applause broke out. Those present were all people in charge of specific tasks, either in charge of technology or marketing. There wasn't even a finance person present, let alone finance, so they were naturally impressed but didn't understand.
Zhang Fengxia stood there shaking her head, saying, "It's over, we've lost face big time. Why did we have to talk about international finance?"
Su Yourong didn't understand at all, and asked Cui Ning beside her, "What is Wall Street? Dance?"
“That’s a waltz, big sister!” Zhang Fengxia mocked mercilessly.
Liu Cheng couldn't help but lower his head to hide his smile. Cui Ning said, "It's a financial street, full of wealthy companies. Mr. Zhang, aren't you also a returnee from studying abroad?"
“I studied business administration!” Zhang Fengxia said, glancing at Su Yourong and giving a soft snort.
"I didn't realize you'd been abroad before?" Su Yourong said, then crossed her arms and fell silent.
Some people in the audience noticed that Lu Feng remained silent, and some of them started to jeer, saying, "Does President Lu not know what Wall Street is? Or does he not understand what finance is?"
Many people at the scene scoffed, and a brief commotion arose in the crowd.
Lu Feng took the microphone down, thought for a moment and said, "If Mr. Jiao only knows what you just talked about, I think you shouldn't say you understand international finance. It's easy to become a laughing stock. Although Wall Street is far from China, it is still closely connected. Since you asked me to talk about it, I'll just give a brief overview. Let me start with what Mr. Jiao just mentioned: a reputable street beggar can change his life by signing a document."
Those present were somewhat surprised; did he really intend to talk?
Actually, Lu Feng could have gotten away with it by not saying anything or making a few jokes, since he had never been abroad, which was an objective fact. However, he looked very serious about teaching Jiao Enfan.
"Are you crazy?" Zhang Fengxia muttered.
Su Yourong stared intently at him. At this moment, Lu Feng was truly perfect in her heart. A glorious and majestic image of omnipotence and omniscience was completely established.
A man should not only be rich, but also knowledgeable and cultured; otherwise, no matter how much money he has, he'll still be a bumpkin.
Many people whispered among themselves, and even Jiao Enfan was somewhat doubtful. Did he really understand?
Lu Feng doesn't understand finance, but the 1997 Asian financial crisis and the 2008 subprime mortgage crisis have been analyzed and condensed too many times. Lu Feng has also read some very detailed ins and outs and summaries.
"First of all, the situation that Mr. Jiao mentioned can also be done domestically. It's just lending money to people and giving them money. The problem is that giving money will cause inflation. Why aren't they afraid? Because the US dollar is the world's main circulating currency, and it also experiences inflation. It's okay, they have the power to print money. As much as they print, you have to buy as much. In essence, it's just a way of taking advantage of others!"
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