Hong Kong Movies: You Hongxingzi, what the hell is the charity king?

Chapter 832 "831" Brother Zu's brief interview remarks: I really can't think of any reason why Hong Kong Island could lose!
in the afternoon,

"Mr. Soros..."

"The Chairman is very satisfied with your operation in Southeast Asia!"

Soros Fund Management, President's Office.

Sunlight streamed through the huge floor-to-ceiling windows, casting bright patches of light on the floor.

Sofa area
At this moment, Soros was facing two people from the Federal Reserve.

Soros said very respectfully, "We have achieved this success entirely thanks to Mr. Chairman's strong support."

The "chairman" mentioned by both parties refers to Alan Greenspan, the chairman of the Federal Reserve Board.

Greenspan served for 18 years (from August 1987 to January 2006), making him one of the longest-serving Federal Reserve chairmen in U.S. history.

During his tenure, he experienced several major economic events, including the 1987 stock market crash, the economic boom of the 1990s, and the 1997 Asian financial crisis.

Its monetary policy style is known for its flexible adjustments and sensitive response to market signals, which has had a profound impact on the US and even the global economy.

Because of the US dollar's dominant influence on the world, the Federal Reserve has always been known as the "world's central bank."

The head of the Federal Reserve is the "world's central bank governor".

Why does Alan Greenspan, the "world's central bank governor," value and support Soros's Southeast Asia operations so much?
The background to this matter can be traced back to the situation of the US dollar.

Before 1997, the US dollar was somewhat "soft".

After experiencing an economic recession in the early 1990s, the Federal Reserve maintained low interest rates in order to stimulate exports and drive growth, which led to the dollar exchange rate being at a low level around 1995.

Meanwhile, the appreciation of currencies such as the German mark and the Japanese yen due to the strong regional economies has, to some extent, diverted international capital demand for holding US dollars.

Take Thailand as an example. Why are its foreign exchange reserves only US$320 billion?
Because it is closely linked to the yen, it has borrowed a lot of money from Japan.

In the 1990s, Japan experienced a significant surplus of capital due to the appreciation of the yen following the Plaza Accord and the implementation of a low-interest-rate policy. This led to a large outflow of capital to Southeast Asia. Thailand, with its low land prices and abundant labor force, attracted substantial Japanese investment and loans.

Other Southeast Asian countries are in a similar situation.

In Europe, even within ASEAN, businesses are starting to settle transactions in their own currencies, which is tantamount to weakening the dollar's status.

The Federal Reserve naturally noticed this.

Therefore,
When Soros was planning to attack Southeast Asia last year, the Federal Reserve learned of this and approached Soros.

The two sides hit it off immediately!
Soros, along with his Quantum Fund and international speculative capital, shorted the Thai baht, directly shattering the fixed exchange rate system in Southeast Asia.

The decoupling of the Thai baht caused other countries' currencies to collapse, foreign exchange reserves to be depleted, and the economy to fall into chaos.

It was only then that these countries realized they couldn't function without the dollar.

then,

The US dollar can now be assertive.

After this Thai financial crisis, who would dare not hold more US dollars in reserve?

(In the following years, Southeast Asian countries increased their dollar reserves. Thailand raised the proportion of its dollar reserves from 30% to 70%, and Indonesia and Malaysia followed suit.)
Therefore, Soros's actions were not merely speculation by private funds, but also helped the Federal Reserve consolidate the dollar's hegemony.

……

……

quickly,

Soros's remarks at the press conference spread throughout the world and Southeast Asia.

On the streets of Thailand, people watched Soros's smug expression on television, and anger quickly spread among them.

"This greedy guy has ruined our lives! He's made a mess of Thailand's economy, and now he's spouting nonsense here!"

"We work so hard, but he robs us of our wealth like a bandit. We can't just let this go!"

Throughout the country, countless curses and jeers rose and fell.

The Thai Prime Minister went so far as to publicly denounce Soros, saying, "Soros is an economic war criminal who sucks the blood of the people."

Some even suggested in meetings that he should not be allowed to enter Thailand.

(Soros shrugs: Who cares?)
In countries such as the Philippines and Indonesia, people took to the streets to protest, holding signs that read "Soros out of Asia" and "Give us back our economic stability."

International speculative capital, like sharks smelling blood, became even more frenzied.

They have intensified their efforts to sell off currencies and stock markets in Southeast Asian countries.

In the foreign exchange market, large amounts of Thai baht, Indonesian rupiah, and Malaysian ringgit were sold off, causing their exchange rates to plummet.

Central banks around the world have tried their best to resist by continuously selling foreign exchange reserves to buy their own currencies in an attempt to stabilize exchange rates, but they have been powerless in the face of the surging sell-off.

The stock market was in utter despair, with panic selling spreading like a plague.

The wealth of countless families vanished in an instant...

Factories shut down, shops closed, and a large number of workers lost their jobs...

……

……

Hong Kong Island.

"Crackle~~~"

"Rumble~~~~"

On July 10, Typhoon Satie passed through the area, with a level 7 typhoon signal and thunder and lightning.

All schools and markets in Hong Kong are closed.

All the households in Hong Kong stayed at home, watching TV or visiting each other to play mahjong.

Causeway Bay
On Guan Zu's side, in a huge living room...

A dozen or so people set up four mahjong tables and played a lively game of mahjong.

Team building!

Guan Zu's table,
"Three of a kind," Guan Zu said, playing his card. Behind him, Ruan Mei was holding her daughter, watching Guan Zu play cards.

The daughter kicked her feet on Guan Zu's lap and reached for the mahjong tiles.

"You can't grab her." Guan Zu grasped her small hand.

Waaaaah~~~~ My daughter burst into tears.

"Bang!" Chen Yongren, the opponent, shouted happily.

His next player, Ahua, began to pray: "May the top touch and the bottom self-draw..."

Then I drew a card.

clap~~~
"Bullshit!"

"Fifty thousand, a perfect pair!"

"Hahaha~~Give us the money!" Ahua and A'e laughed loudly.

Chen Yongren cursed, "I should have known better than to touch it..."

Ah May started counting the money.

At the other table, Xu Zhengyang and Ding Hu didn't play, but sat next to their wives and watched them play. They won several times, which made Gao Gang and Da Tou curse and swear.

"Is there any mistake?"

"Does playing mahjong also discriminate against single people?"

There were also Gong Wei and Li Xia, along with Hua Di Jojo, Ah Xing and Fang Min, Xie Weihao and Song Xiaohui... all gathered at one table...

Thunder rumbled outside the window again.

The room was filled with the sounds of mahjong, laughter, and cursing—a lively and never-ending cacophony.

quickly,

Until noon.

ATV News has begun its official reporting.

"Today, Typhoon Sitty, signal number nine, passed through..."

"The storm surge in Victoria Harbour reached 2.35 meters, setting a new historical record..."

"Most of the rainfall was concentrated in Tsuen Wan and Sha Tin districts..."

"Five streets experienced extensive flooding..."

"In addition, a landslide occurred at Wan Fo Temple in Sha Tin, which destroyed the Buddha statues in the main hall. Wan Fo Temple is currently closed..."

"This morning, the Hong Kong stock market continued to rise, with the Hang Seng Index up 0.8%..."

"Next, international news..." "Yesterday morning, renowned financial magnate George Soros, at his press conference, once again made outrageous remarks, boasting about his 'victories' in Southeast Asia..."

He declared that Hong Kong Island’s existing financial system is riddled with loopholes in his eyes, and stated that Hong Kong Island will become his next target for “conquest.”

"His arrogant tone and haughty attitude were outrageous..."

Guan Zu's house,

A group of people playing mahjong all turned their attention to the television.

"Ah……"

Guan Zu sneered.

Soros, you think you're on the 100th floor, but little do you know I'm in the atmosphere.

At the same time, almost every household in Hong Kong was watching television.

After seeing this news,

Anger and worry were written on the faces of every citizen.

"This Soros is too arrogant. Hong Kong Island is not a place where he can run wild!"

"Those countries that suffered heavy losses, are they now trying to come to Hong Kong Island?"

"We must not let him succeed!"

……

……

A new day,
On the morning after Typhoon Siti passed, the sky over Hong Kong Island finally cleared up.

12 days later,
The sun is coming out.

Sunlight bathed Hong Kong Island, as if sweeping away all the gloom throughout the city.

The furious storm of last night has subsided, leaving behind only a mess—broken tree branches lie across the middle of the road, the remains of billboards hang from the railings, and the puddles in the low-lying areas still reflect the crooked road signs.

A cleanup operation was quickly launched throughout Hong Kong.

Sanitation workers, social workers, enthusiastic citizens, and property management staff all mobilized to sweep up fallen leaves and branches along the streets in sections, while high-pressure water guns washed away the mud on the road.

Trucks hauled away the garbage in bulk; lines damaged by the wind and rain were repaired; some people worked together to straighten signs that had been blown askew; and broken logs blocking the road were moved...

By the afternoon, most of Hong Kong's main roads had been reopened to traffic, and the trees along the streets had been neatly trimmed.

Citizens are going grocery shopping and to work in the fresh air, and the lively atmosphere of Hong Kong Island is beginning to return.

……

On the Hong Kong Island side, the Hang Seng Index fell immediately after the market opened, perhaps due to Soros's remarks.

This led more retail investors to adopt a cautious defensive stance, selling their stocks and converting their Hong Kong dollars into US dollars.

This behavior will naturally deplete some of the dollar reserves.

This was part of Soros's attack.

……

the other side,
Financial Services Building.

The newly appointed Financial Secretary of the new Hong Kong government is sitting in his office chair, looking at reports and data from Southeast Asian countries.

The assistant walked in.

"Director, the press conference is ready."

"it is good!"

The director straightened his clothes in front of the mirror and then left the office.

at this time,

The press conference hall on the 3rd floor.

It was already bustling and noisy.

Reporters from all over Hong Kong, as well as international media reporters from the United States, the United Kingdom and other countries, all came.

During the last handover of Hong Kong Island's sovereignty, a huge number of media reporters from all over the world came. After the handover, most international media left, but a small number stayed, including the famous BBC from the UK and the famous ABC from the US...

Ta tap tap~~~~
At this moment, the Financial Secretary, dressed in a dark suit, walked steadily onto the stage.

"Good morning, fellow journalists and citizens."

His voice carried throughout the hall through the speakers.

"I believe everyone has been paying attention to the volatility in the Southeast Asian financial markets recently, and has also noticed the arrogant remarks of George Soros of the Quantum Fund."

"Today, I stand here to tell you clearly: Hong Kong Island has the ability and confidence to safeguard its financial home."

"To date, our foreign exchange reserves exceed US$900 billion, ranking third in the world, which is incomparable to the Thai baht's US$320 billion."

"This $900 billion is our 'ballast' against external shocks."

"Furthermore, Thailand's financial market suffers from a significant mismatch between short-term foreign debt and long-term investment (short-term yen-denominated foreign debt is being used for long-term real estate investment), resulting in a large real estate bubble. In contrast, Hong Kong, as an international financial center, has a banking system with high capital adequacy ratios and strong risk management capabilities, leading to a smaller real estate bubble..."

Here,

The Secretary couldn't help but admire Kwan Cho, who managed to curb the soaring property prices on Hong Kong Island in the middle of last year.

If Kwan Cho hadn't intervened, Hong Kong Island's property prices would probably be like Thailand's now—a complete bubble.

"Furthermore, Thailand's economy is overly reliant on export-oriented industries and foreign investment, making it less resistant to risks. In contrast, Hong Kong's economy is diversified, with its service, financial, and trade sectors developing in tandem. Its local enterprises are strong, making it more resilient to external shocks."

"More importantly, we are not fighting alone. Last night, I called the capital, and they said: Southeast University will always be Hong Kong Island's strongest support, and this will never change!"

Finally, he spoke passionately, word by word: "I believe that as long as we are united, even the so-called financial tycoons will be defeated in Hong Kong!"

"I am very confident about this!"

"We also hope that the people of Hong Kong Island will have confidence in our new government!"

After listening to all the reporters present, it's clear that Hong Kong Island is indeed quite different from Thailand.

It won't be easy for Soros to win.

……

……

noon,

ATV and TVB both reported on the Financial Secretary's speech.

in the afternoon,

The stock market stopped falling instantly.

However, it still failed to rise, after all, Soros had already destroyed the Thai baht and was stirring up trouble in Southeast Asia, his power was too great.

……

In the afternoon...
Many reporters flocked to Central Plaza to interview Kwan Cho.

Kwan Cho did not hold a press conference, but instead gave interviews to several media outlets, including ATV, TVB, and Oriental Daily, in a conference room.

Lok Wai-ching: "Mr. Kwan, do you have enough confidence in Hong Kong Island regarding the Quantum Fund's upcoming attack on Hong Kong Island?"

Kwan Cho nodded: "Of course I'm confident. The Financial Secretary has already given several reasons today, and that's the source of my confidence."

"First, we have the support of Southeast University."

“Hong Kong Island has US$900 billion in foreign exchange reserves, and Southeast University has US$1200 billion in foreign exchange reserves.”

"Secondly, Five Star Group will always stand on the side of Hong Kong Island. I believe that all the citizens of Hong Kong will also stand on the side of Hong Kong Island together with Five Star Group."

Guan Zu shrugs...

"Therefore, I really can't think of any reason why Hong Kong Island could lose."

……

That evening, Guan Zu's interview aired.

The people of Hong Kong found this more convincing than the Financial Secretary's words.

We believe whatever Mr. Guan says!
……

the next day,
The Hang Seng Index surged immediately upon opening!

The effect was much better than yesterday's finance minister's press conference.

Financial Secretary: "I..."

(End of this chapter)