Two generations of military wives compete for time

My cousin Chen Jinting said: "The financial system was hit hard, causing political turmoil:

1. Banking system collapse

In 1996, the non-performing loan ratio of commercial banks in Thailand reached 35.8%, and 57 financial institutions went bankrupt; the Indonesian banking system almost collapsed, and the government was forced to close half of the banks. International capital, through the short-selling mechanism, led to bank runs and liquidity depletion.

2. Social unrest and regime change

Indonesia was hit by large-scale riots due to the crisis, with the Chinese community becoming scapegoats, which eventually led to the fall of the Suharto regime.

Malaysia’s move to impose capital controls and break with IMF policy has further devolved into a political crisis.”

Qian Yizhen said: "The current Asian economic crisis has caused:

1. Regional crises go global

The crisis spread from Southeast Asia to Russia (the 1998 ruble crisis), Brazil, and even led to the bankruptcy of the US Long-Term Capital Management (LTCM), triggering turbulence in global financial markets.

The yen carry trade exacerbated the spread of the crisis: Japan's low interest rate policy prompted capital outflows to Southeast Asia. The return of funds after the crisis led to the appreciation of the yen, further hitting Asian exports.

2. International trade and industrial chain disruption

In 1998, global merchandise trade volume fell by 12.5%, and the export economies of Asian countries suffered heavy losses. Pillar industries such as South Korea’s semiconductor industry and Thailand’s tourism industry were on the verge of collapse.

My cousin Chen Mengwei said: "Thanks to the strong support of the motherland, Hong Kong has won the battle to defend Hong Kong:

(1) The Hong Kong government mobilized over HK$6 billion of foreign exchange funds to enter the market, ultimately stabilizing the exchange rate and repelling speculators, but the cost was drastic stock market fluctuations and an unemployment rate that rose to %.

(2) China insisted on not devaluing the RMB and stabilized the economy by expanding domestic demand (such as real estate and infrastructure investment). At the same time, it provided more than US$40 billion in aid to countries such as Thailand, becoming a pillar of regional stability.

My cousin Chen Jinting said: “The Asian financial crisis exposed the structural defects of emerging economies in financial liberalization, foreign debt management, and exchange rate systems.

The double-edged sword effect of international capital flows, an economic model that is overly dependent on exports, and a weak financial regulatory system have become the core causes of the crisis. This crisis has provided the world with a profound warning about the risks of globalization and financial governance.

Yang Ruolan said: "I don't quite understand what you said, but I have identified one path. China is developing rapidly now. It is a great time to do business. I always believe in my intuition, hahahaha."

Aunt Chen Mengwei said: "Fortunately, we were foresighted and prepared for a rainy day. Chen's enterprise suffered a slight loss, but it was just a drizzle. Fortunately, my father's spirit in heaven sent a dream to Yizhen, so our Chen Group escaped the disaster."

Yang Ruolan said: "I believe this, so I never forget to visit the graves of my deceased ancestors every year, and pay homage to them..."

After the discussion, it was time for dinner. Qian Yizhen muttered, "At this time in the past, grandma and grandpa always came hand in hand to urge us to eat. Why haven't they come today?"

Yang Ruolan said loudly: "Yizhen, please wake up. Grandma Chen Yalu and Grandpa Lu Kaipu have already gone hand in hand to reunite with Uncle Chen Haoyu. Please stop missing them."

As soon as he finished speaking, Ming Yuanhui took Wang Hong's hand and came to his uncle Chen Haoyu's study. Wang Hong shouted, "Aunt Yizhen, it's time to have dinner. The teacher praised me today and said that I answered the questions correctly."

Qian Yizhen walked forward, took Wang Hong's hand with a smile and said, "Good boy, let's go and have dinner."

After dinner, Ming Yuanhui accompanied Qian Yizhen for a walk in the yard. Ming Yuanhui said, "Gao Pan has returned from Kunming. He must have made a fortune. He wants to fund the construction of a winding mountain road from Gaojia Village to Wufu Road in Daoguan Township, opening up a road to wealth for Gaojia Village to the outside world. This is to thank the villagers of Gaojia Village for donating money to help him go to college."

Qian Yizhen said: "Yes, the villagers of Gaojia Village are blessed."

Ming Yuanhui said: "I have introduced Gao Pan to Secretary Cui Shengli, who was very supportive and arranged a meeting with leaders of the Pingzhou County Transportation Bureau, Planning Bureau, Land Bureau, Construction Bureau and other relevant units.

We ask the relevant government departments to actively assist, support and help Gaopan in handling the planning, land approval, relocation and other matters related to the construction of Gaojia Village Panshan Road. It is estimated that construction can start in two months. "

Qian Yizhen said: "What did Gao Pan do after he was released from prison? It's only been a few years, and he's already become rich?"

Ming Yuanhui said: "According to Gao Pan himself, he and his friends were involved in real estate development, and their business was expanded to Shenzhen. It is said that those who were involved in real estate development all made a fortune.

There is also good news. Gao Weizhe strongly supports his father in building a winding mountain road for Gaojia Village. He also uses the geological and mining knowledge he has learned to discover copper and gold mines in the mountains of Gaojia Village.

Gaopan is ambitious and is hiring a professional team to conduct preliminary investigations and surveys. It plans to register and establish the Gaojiacun Copper and Gold Mine Development Company to make a big move. "

Qian Yizhen said: "I heard that after Gao Pan was released from prison, he met a big boss who shared the same ideals as him, and his entrepreneurial journey went more and more smoothly. He is definitely a nouveau riche. I hope he can seize the opportunity and control himself, and not go down the wrong path again."

Ming Yuanhui said: "I don't think so. He has already had a profound lesson from being in jail once."

Suddenly, I heard a shout from behind. Sister-in-law Hao Xia hurried over and said anxiously, "Yizhen, please go and see my mother-in-law. She is losing her temper. Her legs and feet have not been working well recently and it is becoming more and more difficult for her to walk.

Your uncle Zhuoran bought a wheelchair and wanted to push her out for a walk, but she was very resistant and always blamed her legs for not being able to keep up and kept sulking. You two should go and help us persuade the old lady."

Qian Yizhen, Ming Yuanhui, and sister-in-law Hao Xia came to the Lu residence and went straight to Grandma Lu Jingde's bedroom. Uncle Chen Zhuoran was sitting beside the bed, looking at Grandma Lu Jingde sulking with helplessness and a sad face.

Seeing Qian Yizhen coming in, Grandma Lu Jingde immediately put on a smiling face and said, "Yizhen, Yuanhui, why are you two here? Come and sit down."

Qian Yizhen sat on the chair next to Grandma Lu Jingde and said, "Grandma Lu, how long have you not gone out for a walk? The flowers in the Huaguoshan Scenic Area are blooming. I will accompany you to the mountain to sketch and paint tomorrow, okay?"

Grandma Lu Jingde said: "Yizhen, it's easy for you to say that. My old arms and legs are no longer under my control, especially my two legs, which are useless and I can't walk. Alas..."

Qian Yizhen said: "Your legs are no good, but I am clever and smart, and my brain works well. It's settled. We will set off tomorrow morning. Uncle Chen Zhuoran and I will accompany you to the Huaguoshan Scenic Area to paint and sketch.

However, a wheelchair is meant to be sat on. From now on, you should treat the wheelchair as your legs. You will get used to it. Come, I will help you sit on the wheelchair. Feel it for yourself. It is very comfortable. "

Uncle Chen Zhuoran said, "Mom, Yizhen is right. If you sit in a wheelchair, I will be your full-time driver. I will push you wherever you want to go. I also want to hold an art exhibition for you. Please agree to your son's request."