The Rebirth of the Financial Hegemon

While Zhao Jiangchuan was praying for the Thai people, Bank of Thailand Governor Sonny was also praying to God for Thailand.

Pray to Buddha to bless Thailand through this crisis.

But Sonny found that it was useless to pray to anyone now.

He had just received the most unbelievable news.

Japanese, divest.

Thailand, during the past two decades of rapid development, has been hailed as the most miracle in Asia.

The first of the four little tigers.

Since 1976, Thailand's financial industry has grown rapidly.

Then, Thailand opened all barriers and accepted unlimited capital from all over the world.

Thailand's economy has experienced astonishing growth.

While creating a lot of tax revenue, it also brought a lot of income to Thai residents.

With the development of the economy, the tourism industry has also ushered in opportunities for vigorous development.

Everything is so exciting.

But before this, no one in Thailand noticed that the influx of external capital into Thailand was actually very simple.

More than 50% of the assets of overseas investors flowing into Thailand come from Japan.

Among them, Japanese multinational investors such as Mitsubishi Group, Mitsui Group's Toyota Motor Corporation, Honda Co., Ltd., Suzuki Motor, and Sumitomo Corporation are the main ones.

Thailand is the largest rubber producer in Asia.

Sumitomo Trading Co., Ltd. is Asia's largest automobile tire manufacturing company.

After Japan adjusted its inward investment strategy to outward investment ten years ago, Sumitomo Trading Company built a large number of tire manufacturing plants in Thailand.

Mitsubishi Group, Toyota Motor and Suzuki Motor have invested in multiple automobile production and processing bases in Thailand.

From parts to finished car assembly.

All Mitsubishi cars are produced in Thailand.

Sumitomo and these automobile manufacturing companies complement each other. Relying on cheap labor and high-quality raw materials, these Japanese companies have almost monopolized most of the Asian motorcycle and automobile markets.

On the streets of Thailand.

Motorcycles, almost all Honda and Suzuki Nissan.

As for cars, they are also dominated by Japanese cars.

But now, these Japanese companies suddenly want to withdraw their investment.

They want to exchange their Thai baht into Japanese yen or US dollars to leave Thailand.

Sonny was completely confused after learning the news.

Only then did he discover that Thailand’s biggest crisis was not crowding out at all.

Based on the proportion of Japanese investment in Thailand, once a large-scale withdrawal of investment occurs, all crises in Thailand will immediately explode.

Workers are unemployed on a large scale.

Foreign exchange reserves will suffer heavy losses.

Corporate tax revenue will be severely reduced.

The knock-on effects will be a fatal blow to Thailand.

Block the news. We must block the news that the Japanese want to divest.

Sonny is nothing less than the governor of a country's central bank.

When he realized the consequences of the Japanese withdrawal of investment, he immediately reported it to the Prime Minister's Office.

"General, I just received news that Japanese companies investing in the country will withdraw their capital at all costs. Now we must block the news immediately, and then we will talk to these Japanese..."

"Okay, I'll make arrangements right away."

Sonny responded quickly, and Prime Minister Chavalit was also very cooperative.

But it's still too late.

Hongkong.

Hong Kong TV station financial channel.

“Yesterday morning, an unnamed source said that Japanese investors in Thailand have been selling off assets on a large scale recently.

Judging from the current situation in Thailand, these Japanese companies are likely to be preparing to withdraw investment from Thailand.

We currently have news from Thailand that Mitsubishi Motors' factory in Pattaya has been suspended for three days, and Sumitomo Rubber Group's Chiang Mai branch has also been suspended for more than two days.

Based on various information analysis, the news of Japanese consortium withdrawing investment from Thailand is not false.

These are our on-site photos from Thailand. "

As the TV host's words came to fruition.

A set of enlarged photos were displayed on the TV in a matter of seconds.

You can see in the photos that a large number of workers gathered in front of some local Japanese companies.

They held banners in their hands, demanding that companies resume production.

Some held banners demanding that companies pay dismissal compensation.

After the scene, the TV host spoke again.

"What impact will Japanese companies' withdrawal of investment from Thailand have on the economies of Thailand and Hong Kong? Now let's listen to the professional analysis of Mr. Li Dapao, chief analyst of Jushi Capital."

The screen flashed to Li Dapao, who was in a suit and leather shoes, with gold-rimmed glasses hanging on his nose.

He first showed a smile that he felt was handsome, then straightened his clothes and said.

"From our analysis at Jushi Capital, Japan's inflows account for more than 50% of Thailand's cross-border investments. And Thailand's largest liability also comes from Japan.

If a large number of Japanese companies withdraw their investment, it will cause unbearable damage to the Thai economy.

If the Thai authorities do not respond appropriately, we will look at the historical trajectories of other countries.

It is inevitable that workers will lose their jobs and banks will collapse.

It may even trigger a systemic financial crisis in Thailand.

The stock market plummeted, real estate plummeted, bonds plummeted, large-scale outflows of foreign exchange reserves and other consequences.

Once Thailand's foreign exchange reserves are exhausted, the loss of the Thai baht is inevitable.

A financial crisis is a disaster for any country.

And in financial crises, ordinary people always bear the heavy and catastrophic consequences.

Prices are soaring, food is not enough, and people are hungry and cold.

I sincerely hope that the Thai government can handle this matter promptly and correctly, otherwise the Thai people will fall into a disaster that no one wants to face.

The people are innocent. "

On the stage, Li Dapao explained the impact of Japan's divestment on Thailand with high spirits.

When he got to the back, he looked pitiful and pitiful about his death.

His sadness seemed to resonate with the host.

After Li Dapao fell behind, the host said sadly.

"I hope Thailand can survive this crisis safely and let us pray for them."

After three seconds of silence.

The host spoke again.

"Then what impact will the current situation in Thailand have on us in Hong Kong?"

"From our analysis, the situation in Thailand will boost Hong Kong's economy. Hong Kong is a financial center in Asia and has an unshakable economic status in the world. Recently, the Hong Kong Monetary Authority has followed the Federal Reserve to lower interest rates. To a certain extent, the liquidity of the Hong Kong dollar has been released.

The large-scale capital outflow from Thailand is likely to divert part of the capital into Hong Kong.

Naturally, it will help Hong Kong's economy achieve greater glory. "

"..."

After the program, it’s the daily advertising phase.

An image of international action star Fang Shiryu jumped onto the TV screen.

"For financial management, I will choose Xinglong No. 1 from Standard Chartered Bank. The annual income of 13% is unparalleled. What are you waiting for!"

...

Bangkok, Bank of Thailand headquarters.

Sonny slammed his fist on the table and cursed angrily.

"Damn it, damn Little Japan, damn Boulder Capital, damn Li Dapao, you bunch of bastards."

The hatred in Sonny's heart continued to flow like a torrent of water.

In the past, Sonny, like many others, was completely unaware of the impact that Japanese investment would have on Thailand's economy.

But now, when Thailand encounters a crisis, Japan's huge investment has immediately become the hammer that truly overwhelms Thailand.

Now is the most difficult time for Thailand, but the Japanese want to withdraw their investment at all costs.

This is simply adding insult to injury.

What’s even more abominable is Jushi Capital, the troublemaker.

From Sonny's perspective, it is impossible to see what role Jushi Capital plays in the current situation in Thailand.

Every time someone from Jushi Capital comes out, they are targeting Thailand and the Thai Baht.

What's even more disgusting is that they have to pretend to be pity and pray with false feelings.

What does it mean for people to be innocent?

Doesn't that mean that the actions of the Thai government have caused the current situation?

A small investment company actually dares to point fingers at the government of a country.

Simply arrogant.

If you really consider Thailand and the Thai people, you should not make these things public.

damn it.

These vampires, capitalists.

Sonny held his breath and kept cursing in his mind.

But in the end, he sighed helplessly.

Then a self-deprecating smile appeared on Sonny's face.

With the information he has, he knows more than many people.

Prior to this incident, domestic capital had been flowing out on a large scale.

But the sources of capital outflows forced him to vent his anger elsewhere.

"Ring ring ring..."

On the table, that annoying phone rang again.

Sonny clenched his fists and had to unclench them.

In his position, he will do his job.

Even if he had a premonition of something, he still had to continue doing what he should do.

But for no reason.

He suddenly heard a sentence from Hua Guo.

God does evil, especially if it survives.

If you do something wrong to yourself, you will not live!

"President, it's not good. The U.S. dollar cash at the Sathorn branch has run out. Now depositors are attacking the bank's door. Please allocate funds as soon as possible."

"Okay, I understand. I will allocate 20 million US dollars immediately."

"No, it's at least 50 million. The crowd outside has already lined up on the opposite street."

"Okay. I understand. I'll arrange it as soon as possible."

After hanging up the phone.

Sonny closed his eyes weakly.

The building was about to collapse, and he already felt that he was unable to support it.

"Ring ring ring..."

Before Sonny could rest for a minute, the red phone rang again.

"President, the Chiang Mai branch is in emergency. A large number of people lined up to attack the bank. We are in urgent need of US$200 million in support. Please arrange it as soon as possible."

then.

The Pattaya branch is in emergency, the Phuket City branch is in emergency, and the Chiang Rai branch is in emergency.

After major media revealed that Japanese companies were about to withdraw their capital, banks in all regions of Thailand were plunged into a frenzy of public runs.

Countless residents are scrambling to convert their Thai baht into U.S. dollars.

Bangkok.

Bank of Thailand Head Office.

In the hall downstairs, there was an endless queue of people.

Almost everyone has a lot of Thai baht in their hands.

Some hold bankbooks or bank cards.

These people are all Thai people who rushed to the bank to make money after hearing the news.

suddenly.

The long queue of people was a blast.

I don't know who shouted suddenly.

"The banks are running out of money, and our money is going to be useless."

This cry was like a huge thunder thrown from the ground.

No one is willing to let their life's wealth turn into waste paper.

At this shout, the crowd who were still waiting in line began to rush towards the bank door like crazy.

The bank security guard had been pushed to an unknown location.

Cries, shouts.

A mess.

Sonny could no longer sit still in his office.

He stood by the fence on the third floor of the bank and personally directed the scene.

"Kuan, go get the loudspeaker and calm the people's emotions. Tony, mobilize cash to the scene immediately."

Sonny's assistants followed the order and left.

But before Sonny could even take a moment to breathe, someone came running over in a panic.

"President, there are changes in the spot market and forward foreign exchange market. Please go and take a look."

Sonny's eyes closed weakly.

Then, a kind of dizziness made his body shake, and he seemed to faint at any time.

The head of the marketing department who came to call him was startled.

"President, are you okay?"

Sonny said with difficulty after holding on to the railing for thirty seconds.

"It's okay. Try your best to absorb the selling in the market, and the defense line in the forward foreign exchange market must maintain the price of 26."

"But...but we don't have much funds left."

"There are many."

"Less than $8 billion."

Sonny's heart sank.

Eight billion US dollars is okay in normal times.

However, with the current chaotic situation, I'm afraid it won't last long at all.

The feeling of powerlessness made Sonny almost faint.

He tried to hold on to the railing to stay calm.

"Don't panic. As long as we can appease the public's emotions, maybe we still have a chance. You should do as I say now and do your best to take over the selling in the market."

Sonny's face remained calm.

But the pulsing muscles on his face deeply betrayed his heart.

The people in the marketing department didn't dare to say anything and turned around and left.

But at the moment when he turned his head, the visitor almost shed tears.

As someone who has followed Sonny for more than ten years, how could he not see Sonny's weakness and exhaustion.

He had never seen Sonny as depressed as he was on this day.

"Everyone, line up, don't panic. We have enough U.S. dollars, don't worry. Look, the cash truck outside has arrived. It's full of U.S. dollars. Everyone, line up and come one by one."

"Don't panic, don't worry..."

Vice President of the Bank of Thailand, Chang Kuan, personally held a loudspeaker and shouted over and over again.

Under the comfort of his magnetic voice, the mood of the people who were attacking the bank gradually stabilized.

Of course, it may also be because people saw boxes after boxes of U.S. dollars being carried out of cash transport vehicles.

All in all, the panicked crowd gradually calmed down.

Seeing that the situation had improved, Kuan wiped the sweat from his forehead, put down the speaker and walked to Sonny's side.

As the second in command of the bank, Kuan, like Sunny, is very aware of the bad situation Thailand is currently facing.

But now, it's too late to say anything.

The only thing they can do is try their best to protect the Thai baht's last line of defense.

If you want to keep the exchange rate from being affected, you need enough U.S. dollars as support.

However, the central bank’s reserves may not last long.

"Sonny, why don't we try to temporarily borrow some funds from other banks for emergency relief."

"Kuan, do you think those foreigners will help us in our current situation?"

"But what can we do if we don't try? Maybe it will happen, maybe. This is our last hope."

Sonny smiled self-deprecatingly.

Now, even allies such as Hong Kong, Malaysia and Singapore dare not help Thailand.

Who will help Thailand get through this difficult time?

Forget it, leave it to him.

"Okay then, you go and give it a try. I'll go to the marketing department first."

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