kingnovel Chapter 804 Donating Money to Save the Country
Chapter 804 Donating Money to Save the Country
As for who received it, it was not her concern.
At least on the surface, we cannot leave any hidden dangers for our own company.
The remaining 10% is not that Xia Ran doesn’t want to pay it back, but it belongs to another bank.
It is impossible to contact the person in charge of this bank when repaying the loan because it has closed down long ago.
We could only wait and see, and then the Korean won continued to rise, even reaching the 1350:1 mark at one point.
However, this situation only lasted for one day.
And the last sum of money owed by Xia Ran was successfully repaid.
Xia Ran's subordinates took over 70% of the properties for sale in the South Korean market.
The remaining less than 30% was snatched up by South Korea's far-sighted and shrewd entrepreneurs and speculators.
Xia Ran also acquired six companies.
A clothing company, a foreign trade company, a retail chain, a film and television company, a media company, and a company that produces electronic components.
Arrange for someone to take over.
Apart from anything else, South Korea is still quite awesome when it comes to movies and TV dramas.
A few mouthfuls of kimchi tasted like delicacies from land and sea.
An inconspicuous dirt road was photographed to appear out of reach for others.
And his acting skills are really impeccable. He can play any role and is really amazing.
Since I have the opportunity to get involved in it, I naturally have to look at the layout in advance. What else can make more money than the entertainment industry?
In addition to the above gains, Xia Ran made a net profit of more than 117 billion US dollars.
I guess Quantum Fund earns as much as she does.
When the clock struck early 1998, the South Korean government began to call on the nation to donate money to save the country.
More than 350 million people participated in this event and began lining up to donate gold jewelry.
In three months, more than 220 tons of gold worth US$22 billion were raised.
And this money is only enough to repay 2% of the South Korean government's short-term loans.
But it was precisely this heroic act of donating money to save the country that barely maintained the last bit of dignity of the South Korean government and saved its reputation a little.
What’s funny is that before seeking help from the IMF, the South Korean government was able to help some small and medium-sized enterprises get out of trouble and avoid their complete destruction.
But the top decision-makers did not do so. They ultimately chose big capital and big companies.
Abandoning these small and medium-sized enterprises left them to run naked in this financial crisis until they collapsed.
Perhaps in the eyes of some upper-class people, the common people below are as lowly as ants and are not worthy of their attention and care at all.
Of course, when talking about this, we have to mention a policy they have implemented since the 80s.
The amount received for a corporate mortgage loan is either cash or a bill of exchange.
When the market economy operates normally, bills of exchange are not unusable.
It can be transferred to each other, and can even be used as collateral to borrow money again.
However, one day, these bills of exchange in your hands will completely become a piece of waste paper.
It’s like you don’t have any chips in your hand but still owe the bank a huge loan. How are you going to survive?
Look, the ones who care the least about their own national interests and only care about making profits for themselves are these upper privileged classes.
In the end, it was ordinary people who devoted all their family's efforts to loving the country and protecting the country. Isn't that ironic?
And in this financial crisis, even the easy-living life was not spared.
Since July, many banks and financial institutions that were struggling have declared bankruptcy.
Small businesses in South Korea were also affected and almost wiped out.
China has officially entered the worst economic recession since the war.
Let’s talk about the ink pad.
At the beginning of 1997, the exchange rate of the Indonesian rupiah to the US dollar was 2361.25 rupiah to 1 US dollar.
On July 14, the Indonesian rupiah began to depreciate sharply.
On July 25, Malaysia, the Banana Country, T Country, Singapore and India signed an agreement to extend the currency exchange treaty, which was due to expire in early August, for one year in order to jointly combat currency speculation.
On August 13, the Indian Ministry of Finance and the Bank of India jointly announced that they would abandon the exchange rate policy of pegging to the US dollar.
The Indonesian rupiah fell sharply by 5% due to the implementation of a free floating exchange rate policy.
The next day, the rupiah exchange rate plummeted from 2400:1.
By August 19, the Indonesian rupiah had fallen to its historical low in the Jakarta market, reaching 3045:1 at one point, a drop of 26%.
On September 1, the Indian President called on Southeast Asian countries to jointly establish a security network system.
On October 11, Standard & Poor's downgraded India's credit ratings on its domestic currency debt and foreign currency debt from A+ and BBB to A- and BBB-, respectively.
On October 30, Singapore decided to provide Indonesia with a loan of US$10 billion to help it cope with the current currency crisis.
Of this, US$50 billion will be used to enrich India's foreign exchange reserves.
On November 5, the IMF (International Monetary Fund) decided to provide the Indonesian government with a long-term loan totaling approximately US$10 billion to help Indonesia resolve the current financial crisis.
On December 9, the exchange rate of the Indonesian rupiah to the US dollar fell to 4160:1.
到了1998年1月5日的时候，印泥的外汇市场再次下跌，跌至6700:1。
On January 6, the Indian President delivered a speech and announced the draft national fiscal budget for 1998-1999.
The new draft budget has revenue and expenditure of IDR 133.5 trillion, an increase of 32.1% over the previous year.
On the day the draft was released, the Indonesian rupiah fell below 7762:1.
On the 7th, the market plummeted 12.2% as soon as it opened in the morning, setting a new low of 8400:1.
On the 8th, as soon as the Indonesian rupiah opened in the morning, the exchange rate soared to 9300:1.
Then, by the end of the evening, the exchange rate of the Indonesian rupiah against the US dollar had fallen to the price of rupiah.
The next day, the exchange rate fell another 25%, and the rupiah's depreciation rate was as high as 80%.
Then Old M and the IMF intervened and established the Yinni International Bank (a multi-party funded bank) on January 17.
The rating of India's domestic banks has been downgraded again.
On the 23rd, the Indonesian exchange rate fell to :1, setting a new historical low.
At one point it even fell to :1.
During this process, Xia Ran's people kept buying on the dip, and nothing but buying on the dip.
Through various operations, from July last year to the end of January this year, Xia Ran Company took away a total of more than 126 billion US dollars from ink.
Withdrew as soon as they had gained the upper hand, because Mr. M and the IMF had intervened. Continuing would be like trying to grab chestnuts from the fire, which is not worth it.
And the family's own trading business came into play again.
Because the current price of ink has skyrocketed, all supplies are in short supply, and no matter what is shipped in, it will be snapped up in seconds.
Xia Ran returned to China in early February.
The first thing he did after returning to China was to ask Li Huaimin to stock up on various daily necessities in his own storage center.
Mainly food, clothing, and drinks, as well as tents, beds, kayaks, and the like.