Chapter 472 Experience teaches, you'll learn it in one go (bug fixes): We are a handy knife
Chubais, still undeterred, followed Ivanov to the shower. The rushing water couldn't drown out his nagging questions: "Then why do you work so hard? Hey! Ivanov, don't tell me it's all for the people, for the country, or anything like that. That's one reason, but what's the other? Why are you in such a hurry? You could be much more relaxed..."
"Take it easy, my foot!" Ivanov noticed that his father had become increasingly rude since becoming deputy prime minister. He said impatiently, "How can we take it easy? Can Russia's situation be handled slowly and deliberately?"
Chubais was speechless. Indeed, more than six years after the collapse of the Soviet Union, Russia's industrial and agricultural output had not recovered to its pre-collapse levels.
While freedom is important, he also knows that material conditions determine consciousness, and the former is truly related to the living standards of ordinary people.
He couldn't help but feel a subtle sense of guilt.
But what's coming next will make his heart even weaker.
Ivanov retorted irritably, "Besides, if I don't speed things up now, how am I going to hand over the reins in three years? Am I supposed to leave a mess for the next person to clean up? How unethical would that be?"
Each sentence was like a punch aimed at Chubais's heart.
He suspected that the other party was indirectly insulting him, or rather, directly pointing his finger at him and cursing him to his face.
He had to take a deep breath before he apologized quietly, "I'm really sorry to have left you with such a mess."
Ivanov suddenly realized that he had accidentally injured a friend... well, not even a friend. It was a complete mess; it wouldn't be an exaggeration to say that he had ruined his mortal enemy.
But he still decided to save face for the person, and his tone sounded extremely sincere: "You didn't expect to be dismissed so quickly, did you? Your plans have been completely ruined."
Chubais waved his hand, indicating that there was no need to comfort him; he already knew how badly things had turned out.
That's why he was so unwilling to give up his chosen next president.
Although we always argued, he was often furious when we left the White House.
But he has to admit that his final decision to agree with Ivan was because he saw the results.
Indeed, in Russian politics, it is extremely rare for officials to see firsthand the results of their own efforts.
What people truly fear is not hard work, but hard work without results.
Following the lead sheep that leads to a large patch of lush grass, the flock will find joy even if it means going through countless hardships.
“Ivan,” Chubais thought for a while and finally found a reason to persuade him, “Listen to me, you don’t need to worry about the approval rating at all. Don’t forget how low the president’s approval rating was in the 1996 election. With the king around, I can also join your campaign team, and we can definitely get your approval rating above 50%!”
Good heavens! How could you forget that we have a powerful weapon? If the king makes a move, Bian Que's elder and second elder brothers are no match for him.
He became more and more excited as he spoke: "It's true, the king can completely dominate the world."
If even a president with a lackluster record can be portrayed as Russia's hope, how much more so Ivan, who truly led Russia out of disaster?
Ivanov impatiently turned off the tap and looked at him seriously: "Anatole, the Queen doesn't like politics, she hates politics. Do you remember in the spring of '96, when we went to Sakhalin Oblast? The official reason was that we were going there to sign a contract, but in fact, the Queen couldn't stand Moscow anymore. The air in Moscow is suffocating."
He clearly remembered how exhausted Wang was at the time, to the point that she had to hunt bears to revitalize her weary nerves.
Chubais fell silent, turned off the tap, and looked at him: "Maybe she just thought our campaign team was too stupid."
Intelligent people always lack patience with fools. He knew this all too well, because for a long time, he himself had been called intelligent.
Ivanov shook his head and wiped the water droplets off his body with a towel: "Alright, let's not talk about this anymore. Wang isn't very interested in politics. She argued with Berezovsky and the others to make me the deputy prime minister because I wanted to."
Yes, although he always obeyed the king, the king never forced his will.
Wang knew he wanted to but dared not think about it, so he pushed him to take this step.
That was enough. His political ideals lasted for three years, and that was enough. He had done everything he wanted to do.
He said earnestly, "Once I finish this job, I should go back to help Wang. Otherwise, it would be terrible if she were always the one helping me and I couldn't help her at all."
Chubais paused for a moment, then tried to argue again: "What is Miss Wang busy with? Perhaps we can help?"
Ivanov said irritably, "She's busy acquiring SsangYong Motors and POSCO's specialty steel division in South Korea. Anatoly, how do you plan to help?"
Chubais was speechless once again. Indeed, the air quality in the shower room was also suffocating.
He took a deep breath: "Is it for the Muscovy automobile plant and the Kuznetsk steel plant?"
"What else could it be for?" Ivanov emphasized. "I never dared to expect that Russia's industrial and agricultural output could return to its Soviet-era peak before I left the White House. The only thing I dared to think about was preserving the sparks, whether in industry or agriculture. When the conditions are right, these sparks will eventually burn brightly."
Wang said that she would definitely help him realize his dream.
She said it, and she has been doing it.
How could he let her run around and work all by herself?
Wang Xiao shuttled between various companies in South Korea, picking and choosing like buying cabbages.
Don't say she went too far. Last year, tens of thousands of small and medium-sized enterprises went bankrupt in South Korea. If they all went bankrupt, what else could they do but sell off their employees, machinery, equipment, and technology as scrap assets?
Although these companies are not large in scale, they have their own unique strengths in certain specific fields, such as materials application and precision manufacturing, which can be fully adopted.
Especially some companies in Gyeonggi Province, which previously supplied materials and parts to large companies such as Samsung, LG, and Hyundai-Kia Motors, possess excellent commercialization technology.
These are all quite significant for Wuzhou's business layout in various countries, so naturally we should seize this opportunity to acquire them.
Of course, with time running out and the team's technical staff having limited capabilities, there were bound to be some unqualified individuals and situations where they were taken advantage of and overcharged.
But how many people in this world have never fallen into a trap? So what if you fall into a trap? It's not a big deal.
People with more money tend to be more tolerant.
While Wang Xiao was busy browsing the bankrupt two-dollar stores, the major projects she had previously worked on also started to receive responses.
Among them, the fastest to react was not Hyundai Electronics or LG Electronics, but POSCO.
This world-class steel giant surprisingly agreed quickly to establish a joint venture with the Kuznetsk Steel Plant in Russia to produce special materials.
The entire team was stunned.
No, do South Koreans really need to be that efficient? Besides, POSCO is actually one of the better-performing companies among the major corporations.
Even during last year's financial crisis, POSCO did not experience a fiscal deficit.
The reason for this is most likely because it is a state-owned enterprise.
That's right, South Korea has been on the capitalist path for decades, but it still has state-owned enterprises.
Although Pohang Steel began its shareholding reform in 1988, selling shares to the public, the majority of its shares still belong to the state and state-owned banks.
This also prevented it from incurring massive debts abroad behind the backs of the government, unlike large conglomerates such as Samsung and Hyundai.
Given this, why did POSCO react so quickly? Although they didn't directly sell any divisions, their willingness to form a joint venture is a positive sign.
That's over the top.
Wang Xiao was sitting and eating ice cream when he heard them chatting. He casually replied, "Because we are a very handy knife."
Xiao Gao and Xiao Zhao looked at their boss carefully and felt that their boss didn't have to be so confident all the time.
The word "knife" has nothing to do with the boss. In terms of combat power, the boss hiding himself is the greatest support he can give to the team.
Wang Xiao sighed, looking helplessly at the two bewildered bodyguards, then turned her gaze to Lyuba, full of expectation: "Explain it to them."
This time, Lyuba disappointed her again, shaking her head and saying, "I didn't understand either."
Oh my, as expected of her Lyuba, she really knows how to give her emotional support.
It makes her seem really mysterious and unfathomable.
Wang Xiao chuckled happily, then turned to Shi Zetian and said, "Mr. Shi Zetian, you must understand what the Koreans are thinking. Why don't you talk to them?"
However, Shi Zetian was even more baffled than they were, and could only shake his head regretfully: "President Wang, I don't understand."
He was more concerned about when Hyundai Electronics would relent and finalize the LCD panel project as soon as possible.
Wang Xiao then turned to look at Mezerov.
The latter shook his head vigorously, resisting with all his might, and even complained: "I don't understand East Asian culture. You can convey countless meanings without saying a word, and people have to guess them all."
Good heavens! This is what troubles him the most.
Even Tang Yicheng, who was the most anticipated, waved his hand and said, "I can't explain it. Koreans like to make people guess even more than we do. I can't figure it out, I don't understand what they're thinking."
Wang Xiao scratched his chin, utterly bewildered: "Is it that hard to understand? The South Korean government is using us to warn the chaebols, telling them to stop having illusions and to cut their losses and do everything they can to save themselves."
She explained, "First of all, although I came here as a Hong Kong businesswoman, the South Korean government knows exactly who I am."
She arrived in Seoul from Moscow on Ivanov's private plane; she never hid this relationship.
Why would she hide it? If she did, why would the South Korean government pay special attention to the whereabouts of a Hong Kong businessman? The country is bankrupt, and high-ranking officials are collectively collapsing; they have no time or energy to care about unimportant people.
But she's the fiancée of the Russian Deputy Prime Minister, so it's a different story. Even if she came to South Korea on a private trip and wasn't traveling with Ivanov, it's understandable that the South Korean government would be monitoring her movements, given East Asian cultural customs.
What she needs is this attention.
"If I want to acquire a South Korean company, department, or technology, the high-ranking South Korean economic official in charge of negotiating with Ivan will definitely be informed immediately."
"Whether these can be sold or not depends not only on the companies themselves, but also on the approval of the South Korean government."
That's something everyone can understand.
The famous Project 909 showed strong interest in establishing a joint venture in Shanghai, and American semiconductor companies were on the verge of success.
But at the last minute, the US government intervened and forbade them from handling the matter.
That's when the story of Nippon Electric came about.
It is clear that whether or not the government provides support is crucial to the project's success.
Wang Xiao laughed and said, "Pohhang Steel is a state-owned enterprise, and its statement represents the statement of the South Korean government. The South Korean government needs this to show the chaebols that they should not follow the example of Daewoo Group and actively cut their losses to survive."
Xiao Gao and Xiao Zhao exchanged bewildered glances. They could barely understand why the South Korean government was using POSCO to indicate that the country was encouraging large conglomerates to sell off non-core businesses.
But why does this seem like a warning to Daewoo Group?
They searched and searched but couldn't find that detail.
Wang Xiao sighed: "Now, Minister Lim is in charge of economic reforms in South Korea. Look at his interviews and public statements; his attitude is that he agrees with the IMF's tightening monetary policy. He just signed a contract opposing the blind expansion of large corporations, and then Daewoo Group went against the trend and expanded, acquiring Ssangyong, which was also in trouble, and assuming its huge debts. This completely contradicts the official policy of tightening and structural adjustment. If we don't teach them a lesson, who should we teach a lesson to?"
"Let's put out the attitudes of POSCO and Daewoo Group and compare them for everyone to see. Let the conglomerates understand that they shouldn't fantasize about Malaysia not dying, and they should learn from POSCO."
Xiao Gao and Xiao Zhao then realized what was going on.
Mejerov, who was listening nearby, was quite speechless. He bluntly expressed his doubts: "Miss Wang, are you sure these companies really understand what the South Korean government means?"
So subtle, even more difficult to guess than the most complex mystery, could the big tycoons possibly figure it out?
Wang Xiao laughed: "Then don't underestimate them. Everyone has their own expertise. For a large state-owned enterprise like this to grow, the first thing it needs to do is to understand the government's intentions. Without policy support, they simply cannot grow in scale. To put it bluntly, it's like the eunuchs in ancient times trying to understand the emperor's intentions; they might even understand his intentions better than the emperor himself."
Mezerov gasped, cupped his hands in a respectful bow, and uttered two words: "I admire you!"
Everyone burst into laughter.
Shi Zetian nodded with a smile: "Then let's wait for the eunuchs to act quickly; they should be faster than the civil and military officials."
No sooner had Wang Xiao finished speaking than his phone rang. It was Representative Cui from Hyundai Electronics.
He stated that the group has considered the matter and agreed to accept the offer of $200 million, and hopes that Miss Wang can finalize the time for subsequent negotiations and signing as soon as possible.
When the call ended, Ishizawa nodded seriously: "As expected of Otomo, he reacted the fastest."
In January 1998, the number one company in South Korea was not Samsung, but the much larger Hyundai Group.
From this perspective, calling him an aunt, while unethical, seems quite fitting.
Everyone burst into laughter.
Wang Xiao clapped his hands with a smile and said seriously, "Alright, let's have a collaboration between the two of you."
Everyone in the room was stunned for a moment before they realized what was happening.
Oh, it seems their boss is also a Russian oligarch, essentially no different from South Korean chaebols.
The boss has a really good attitude; he wasn't angry at all about being the boss's partner.
Wang Xiao not only didn't get angry, but also made the most of her role as a partner, quickly launching a contract signing process.
By the time she left South Korea on January 26, she had signed a total of eight contracts, making her practically an eight-legged octopus. She spent all $1.2 billion.
The only regret is that I haven't received the SsangYong car yet.
Before leaving, she also told Tang Yicheng, who stayed behind: "Look around more, walk around more, look around more, you might be able to find some treasure."
She sighed, "While South Korea's debt restructuring is still underway, and before Wall Street has had time to get involved, we need to get moving quickly. We can't touch the big corporations; the only ones we can get close to are the unique skills possessed by small and medium-sized enterprises."
Currently, the South Korean government still has control over its own companies and can say that it has the final say.
Once Wall Street takes over all of South Korea's major corporations, the South Korean government will have no say whatsoever, and they won't even be able to control those big conglomerates.
Because by then, they will be backed by the United States, not the South Korean government.
Tang Yicheng nodded.
He doesn't plan to go back home for the New Year. Instead, he'll bring his family over so they can experience something new and enjoy South Korea.
He assured his boss, "Don't worry, I'll keep a close eye on things."
During his six months in South Korea, he felt he had gained a great deal of knowledge. In particular, his boss's series of actions made him suddenly realize that anyone and anything could be exploited.
The South Korean government sees them as a knife, a knife to warn the big conglomerates.
They also used the Blue House as a convenient tool, and it was because of the government's tacit support that the entire acquisition plan proceeded so incredibly smoothly.
Wang Xiao smiled and said, "I trust you to handle things. With you here, there's nothing I can't worry about."
Tang Yicheng just smiled, then remembered something and asked with concern, "By the way, have Manager Zhou and the others returned to China? What did they acquire in the US? We don't want them to clash and waste money."
Speak of the devil, and he shall appear.
Before Wang Xiao could answer, the phone rang. When he answered, it was Zhou Liang's excited voice: "Boss, we've talked to Texas Instruments. They're very interested. They can give us their engineering team and all the technical equipment, and they can also help us train our engineers and workers."
Good heavens! Zhou Liang felt like he was floating on clouds when he said that.
Who is that? Texas Instruments!
My goodness, I never imagined that one day he would be able to lead the acquisition of Texas Instruments' semiconductor project.
Wang Xiao smiled and said, "Then you can continue working. Thank you for your hard work. If you can't come back for the New Year, treat yourselves well. I'll reimburse you later."
She hung up the phone and saw Tang Yicheng grinning mischievously.
She was speechless: "President Tang, Zhou Liang is your grand-disciple. You're so happy to see him stumble."
Tang Yicheng laughed so hard he slapped his thigh: "How can he give up his illusions about America if he doesn't suffer some losses?"
He realized that these educated people all seemed to have their heads locked up, unable to think for themselves, just like children who are born believing in their mothers, filled with superstition about Western countries.
This superstition is not simply economic or technological; it is a systemic and cultural superstition that has reached an unbelievable level.
It was only after seeing them that he understood why the so-called saint Gandhi, when facing Japanese invasion in China, could say such foolish things as, "Why are you resisting? You can let the Japanese continue killing. Show your indomitable will through non-violent non-cooperation, and the Japanese will naturally be moved. At most, they will kill 200 million people and then stop."
Now I understand why Nehru, that guy, went crazy and launched the invasion of China in 1962, which ended up as the Battle of Beijing.
So they were all educated in Britain and completely brainwashed by the British system, which makes them stupid?
He gets this feeling when he looks at some college students in China.
They need to stumble and fall, they need to feel the pain, so that they can see the world clearly and stop harboring illusions day after day.
Wang Xiao laughed and said, "Alright, since you don't care about your grand-disciple, then let them fall down."
She has too much to do; Zhou Liang and Yang Tao, these two top students, will both have to shoulder the main responsibility later on.
If their basic stance is unclear, then they certainly won't be able to stir up trouble.
This is a good opportunity. Practice makes perfect; things will teach you everything in one go. Let them learn on their own.
I don't mind if the tuition is a little expensive.
Sure enough, on her first day back in Moscow, after taking a shower with Ivanov and just about to crawl back into bed, Wang Xiao received an international call from Zhou Liang.
The man who was full of vigor just 24 hours ago is now looking ashamed and stammering, "Boss, the acquisition has been halted. The US government wants to stop it."
He was completely bewildered. They had been busy for so long, and Mr. Mejerov had even gone along to investigate. Neither the buyer nor the seller had any objections. Why was the US government jumping in to cause trouble?
Texas Instruments is already losing money; it simply cannot support its semiconductor business.
Is the government going to let Texas Instruments be dragged down and killed?
Wang Xiao rolled over, found a comfortable position, and said lazily, "Are there any other companies that want to acquire Texas Instruments?"
Speaking of this, Zhou Liang was even more furious: "We originally had Micron, but it failed to secure funding, so now it's willing but unable to do anything about it."
The semiconductor industry was indeed in a downturn. In 1996, the price of memory chips plummeted by 80%, and many companies couldn't withstand it and went out of business.
Micron is one of the few remaining memory manufacturers in the United States, but this also puts it under tremendous operational and financial pressure.
In the capital-intensive and volatile memory chip industry, large acquisitions typically require the support of financial institutions. The company could have used a combination of its own cash reserves, equity market financing, or dedicated loans to complete the acquisition of Texas Instruments Semiconductor.
Unfortunately, the financial crisis broke out, the US stock market plummeted, and Wall Street investors became increasingly nervous and hesitant to make any moves. As a result, Micron encountered difficulties in financing and was unable to complete the acquisition for a long time.
That's exactly why Zhou Liang and his group had the opportunity to take advantage of the situation.
As a result, the US government showed no sportsmanship and, at a crucial moment, actually prevented this transaction from proceeding.
Wang Xiao nodded and began assigning tasks to his subordinates: "Then you contact Micron and see if they will accept the investment. If they do, support them in completing the acquisition of Texas Instruments Semiconductor by purchasing Micron stock."
Zhou Liang was stunned; he suspected that his boss hadn't understood him.
The Washington government won't let them buy Texas Instruments, and it certainly won't let the US transfer shares to them either.
Wang Xiao had no patience to explain slowly: "Just give it a try. How will you know if you can succeed if you don't try? If you succeed, then analyze why you succeeded. If you fail, then think carefully about where you went wrong."
Zhou Liang was completely confused, but in the end he obediently hung up the phone and exchanged bewildered glances with Yang Tao—should they just do as their boss said? After all, the boss always has his reasons, even though they couldn't quite figure out what those reasons were.
Ivanov lay down beside them, listening intently to their conversation.
Wang Zhenhao, he spoke entirely in English, and he understood it all.
So he couldn't help but laugh, then added with a hint of jealousy: "You really have the patience to teach them."
Wang Xiao was both amused and exasperated: "What did I teach them? They couldn't understand anything."
“That’s because they’re too stupid,” Ivanov retorted without hesitation. “It’s so obvious, and they can’t even tell. Where is Micron’s headquarters? Idaho, and where are its factories? Utah. It’s not in Silicon Valley; it’s located in small states, and it’s a major taxpayer and an economic engine for those states. It has invested $1.3 billion in its Utah factory alone. Both states treat it like a cash cow.”
Wang Xiao became more and more interested as she listened. "Wow, that's amazing! They actually know so much."
Ivanov chuckled and shook his head: "Compared to those highly competitive large states, small states with smaller populations face less competition for legislators, making it easier for them to be re-elected. And the longer they serve, the more senior they become. So, while these legislators from small states in the US may seem insignificant, they actually wield considerable political power. If America wants to do something and asks for their help, Washington has to give them face. In which country doesn't there be power struggles between the central and local governments?"
After he finished speaking, he looked at Wang Xiao triumphantly, waiting for praise.
Wang Xiao's face was full of heartache. She reached out and hugged his upper body, leaning against his bare chest, and sighed, "How did you know all this? You must be working so hard. You shouldn't be working so hard."
Ivanov was stunned for a moment before he realized what was happening.
During his year and a half as prime minister, he really learned a lot of things, many of which he would never have wanted to know before.
A surge of resentment welled up within him, and he began to whine, "You know I work hard, how are you going to make it up to me?"
Wang Xiao patted his back with a smile: "Go to sleep, go to sleep early, get some rest, that way you won't be so tired."
Ivanov panicked and immediately said, "I can work even harder."
Wang Xiao smiled and hugged him, comforting him, "I want to sleep in your arms, go to sleep."
Ivanov grumbled, "I can't sleep."
Wang Xiao simply conscripted someone: "If you can't sleep, help me think of a way to take down SsangYong Motors?"
Yes, that's how domineering and unreasonable she is. She's set her sights on SsangYong Motors, and she's determined to acquire it.
So what if Daewoo Group is unwilling? How many people in the world are overjoyed when they sell their assets? They still have to sell.
Ivanov looked into her sparkling eyes and kissed her: "Okay, we'll think about it later."
He loved ambitious kings; he always felt his blood surging with joy.
SsangYong Motors? Let's just take it over. There's always a way to do that.
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Note: During Project 909, in October 1996, the U.S. Department of Commerce expressed concern about the potential challenges and threats posed by China's progress in microelectronics technology to the United States. This directly influenced the attitude of U.S. companies towards cooperation on Project 909. U.S. companies imposed numerous discriminatory clauses regarding technology confidentiality, such as restricting Chinese technical personnel from entering the workshops and requiring collaborative training to be arranged in other locations, leading to a breakdown in cooperation. However, at that time, the U.S. could not control Japan's willingness to establish joint ventures in China.
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