Chapter 1058

Zhou Andong looked at Wu Hongkang: "Do you have stocks in your hand too?"

"Yes!" Wu Hongkang nodded: "Will it really collapse?"

"Yes, if you have any in your hand, sell them quickly, don't hold onto them."

Zhou Andong suddenly remembered that on January 1, 1994, the official RMB exchange rate and the foreign exchange adjustment price were officially merged, with the RMB quoted at 7.72 against the US dollar.

Compared to the previous exchange rate of 5.5, it depreciated by more than thirty percent. The domestic stock market started a wave of brutal decline because of the merger of foreign exchange adjustment prices, falling by as much as eighty percent from the highest point in 1993.

And this foreign exchange adjustment affected not only the stock market but also those who held US dollars in their hands.

In the current black market, the US dollar to RMB has already reached over twelve, because inflation is very severe now.

The purchasing power of the RMB is weakening, which means the RMB is becoming less and less valuable and will continue to depreciate.

Therefore, many people with connections started exchanging for US dollars at high prices, 10, 11, or even higher than 12, reaching 13:1.

Then, the exchange rate reform suddenly arrived, devaluing the official RMB exchange rate from 5.5 to 7.7 all at once.

What's even more fatal is that the bank raised deposit interest rates. Except for those who were in a hurry to go abroad and needed US dollars, the RMB suddenly disappeared from the black market.

And those who exchanged for US dollars at high prices could only sell them at a price lower than the official exchange rate, losing even their underwear.

And because the bank raised interest rates, ordinary people's deposits, plus interest, basically maintained their purchasing power.

Immediately after, the country made a flashy move. Although the official exchange rate was 1:7.7, they gave foreign businessmen an exchange rate of 8.3 RMB, which looked like a big loss.

But it attracted a large-scale entry of foreign businessmen, buying land and opening factories in China. China's foreign trade economy embarked on a true fast track, and global manufacturing began to shift to China.

This caused great pressure on Southeast Asia. At this time, Southeast Asian currencies should have depreciated, but they didn't, which also buried huge hidden dangers for the 1997 financial crisis.

And China should also have depreciated during the 1997 financial crisis, but because the pressure on the RMB was not great, and also to stabilize the Southeast Asian economy, the RMB did not depreciate.

On the other hand, Southeast Asia was in turmoil, while China's environment was stable. Even if the RMB was overvalued, it would definitely force foreign capital to flood into China in large quantities again. In this way, the money lost by making concessions on the exchange rate to attract foreign businessmen could be earned back.

Sure enough, after the financial crisis began, a large amount of foreign capital began to shift to China. The RMB that should have depreciated did not depreciate, so all the money lost that year was taken back.

What is this? This is the wisdom of the Chinese people, playing with brains. How could those one-track-minded foreigners play better than us?

Wu Hongkang didn't even think about it and walked quickly to the front desk to make a phone call.

"Let's wait outside." Zhou Andong took out a cigarette and lit one, stepping out: "You didn't buy domestic stocks, did you?"

Seeing Jian Qiu shook her head: "I had some before, but I sold them all before going to the UK."

Zhou Andong asked again: "Who in the family has them?"

"Don't know." Seeing Jian Qiu answered very readily.

Zhou Andong said with a smile: "You call Fourth Aunt and Mom, and ask them if they have any. If they do, sell them quickly. As for the others, forget it; whether they lose money or not has nothing to do with me."

"Okay!" Seeing Jian Qiu nodded: "There is a public phone at the newsstand at the intersection ahead, let's go there and call."

Soon, Wu Hongkang came out: "Let's go!"

The three of them walked along the road, arrived at the newsstand at the intersection, and Seeing Jian Qiu picked up the phone and dialed a string of numbers.

Zhou Andong boredly picked up a newspaper; it was the Yangcheng Youth Daily, his mortal enemy.

What he didn't expect was that the reporter Song Ziyi and the others had only looked for yesterday, and today it was on the Yangcheng Youth Daily; it was really fast enough.

"What are you looking at?" Seeing Jian Qiu finished the call, tilted her head, and glanced at the newspaper.

Zhou Andong handed the newspaper to Seeing Jian Qiu: "Take a look."

Seeing Jian Qiu took it over, and as she looked, her eyes narrowed: "He returned to the country to support our country's economic construction? This Song Ziyi is really thick-skinned enough. How big a face must one have to say such arrogant words."

Zhou Andong sneered, smoke crawled out of his mouth, and then was blown away by the wind.

"This guy is a typical 'Gao Hua' (High-class Chinese)."

"'Gao Hua'?" Seeing Jian Qiu didn't understand, and Wu Hongkang didn't know what it meant either; they all looked at Zhou Andong.

"Thinking of themselves as aristocrats among the Chinese. Although our hereditary aristocratic system ended long ago, under the global influence of Western civilization, this concept has resurfaced, and some people hope to be hereditary aristocrats.

And Song Ziyi is a typical 'Gao Hua', thinking of himself as an aristocrat, wandering in the upper-class society of the West. In fact, in the eyes of those foreign gentlemen, he is just a clown.

Yet it is such a clown, a so-called aristocrat, who looks down on the Chinese people the most, looks down on the motherland. They are servile to the outside world, but always have an arrogant and unyielding face to our own people."

"Very vivid!" Seeing Jian Qiu nodded: "When I was studying abroad, I met people like this."

Wu Hongkang held the newspaper: "This Song Ziyi says you are a gangster, and he wants to return to the United States and hold a press conference to tell businessmen around the world that China's public security is very poor and not suitable for investment. This is clearly threatening you and putting pressure on you."

Speaking of this, Wu Hongkang looked at Zhou Andong: "Regardless of whether this guy is a 'Gao Hua' or not, his identity is a Chinese businessman. Once this matter ferments, it will definitely affect the country's image. If it is used by certain foreign forces, the country will really fall into a passive position."

Zhou Andong smiled: "Then you say, what will the higher-ups do?"

Wu Hongkang pondered for a while: "The higher-ups are impossible to let this matter ferment, so it is very likely they will talk to you."

Zhou Andong looked at Wu Hongkang: "You mean, the higher-ups will put pressure on me, let me apologize to him publicly, and then go and ask for his forgiveness?"

Wu Hongkang shook his head: "The higher-ups will talk to you, but they will definitely not put pressure on you. As for how to eliminate the influence, that is your own business.

Of course, you can also do nothing, but all your previous efforts and the good impression you left on the higher-ups will vanish into thin air and no longer exist."

Zhou Andong took a final puff of his cigarette, threw the butt on the ground, and crushed it fiercely: "The purpose of Song Ziyi doing this is actually to put pressure on the higher-ups, and then let the higher-ups put pressure on me.

He should be very proud now, just waiting for me to apologize to him publicly, and then go and ask for his forgiveness."

Wu Hongkang frowned; he felt that this was a dead end. Apart from apologizing publicly and asking Song Ziyi for forgiveness, Zhou Andong had no other way to go.

"Ha!" Zhou Andong laughed: "Song Ziyi should be very proud now, but soon I will make him cry."