Chapter 857: 857
If audio player doesn't work, press Stop then Play button again
The reason why Yang Jing didn't start to intervene in apple in the 1980s is that she is waiting for this opportunity now.
In fact, from the establishment of apple to later generations, the company became the first company with a market value of more than $trillion in the world. The best time to get involved in the company is to obtain Angel round investment at the beginning of the company's establishment, and the other is the second half of 1996.
But Joe gang leader's strength is well known. Even when the 21-year-old Hippie founded apple with HP engineer Steve Wozniak and Ron Wayne, who used to do slot machine business, on April 1, 1976, he didn't want to do Angel round financing.
At the beginning of his business, gang leader Joe attached great importance to his shares, not to mention that when he was driven out of apple and drifted outside for more than ten years, he saw the real blood and ruthlessness of capital. After returning to Apple again, he was more reluctant to introduce Wall Street capital to Apple.
In fact, if he had not been driven out of apple, but had been the boss of apple, with his business talent and advanced design concept, there might not be a computer brand like Dell.
Failure is not terrible, the terrible thing is that I don't know how to work hard again!
Jobs is obviously not such a person. In those years, Lisa database and appleiie may have really brought great losses to apple, but if Apple's shareholders can insist on believing in this genius, jobs will never disappoint those who believe in him, just like what he did after he returned to apple.
To use a common word to describe jobs, that is, this guy is like a perfect diamond. Even if he has been covered with dust, his bright light can not be suppressed after all.
If Apple's shareholders could trust Joe more, maybe Joe would launch personal PCs and laptops with better shape and performance in the 1980s, so as to become the leader in the industry again. Who can tell such a thing? But judging from the performance of gang leader Joe in the future, if he had not left apple at the beginning, he would probably have done such a thing.
At that time, Dell, HP and even IBM are likely to be suppressed by apple in terms of personal PC.
But that's all hypothetical. The second half of 1996 is the best time to get involved in apple at the least cost.
Yang Jing left it to Henry. In terms of Henry's talent in this field, he will be able to do it without leakage.
In this uncertain time, the change of equity in the hands of more than a dozen or dozens of small shareholders of Apple will never attract other people's attention.
After telling Henry, Yang Jing called David Anderson in again.
"David, what do you think of the recent economic situation in Southeast Asia, Japan and South Korea?" Yang Jing poured David a cup of coffee and sat opposite David.
At this time, David Anderson is almost 60 years old. Maybe his age has increased. Recently, he has achieved too many successes in more than a decade. At this time, he can't see the situation that his IQ was high and his EQ was too low. Now David Anderson seems to be a very wise financial tycoon.
Yang Jing still remembers the scene when she first met David more than ten years ago. At that time, David, who was in his forties and sixties, was a very old-fashioned guy. It is said that David with black blood should be more lively, but the fact is just the opposite.
In the later business, although David showed unparalleled investment talent, he was really not good in dealing with the world. If Yang Jing, old Mike and Henry hadn't defended him, maybe he would have left KY investment fund.
However, the environment can change people's character. This sentence is not nonsense, but there is a certain truth. At least this sentence is reflected incisively and vividly in David.
David has really changed a lot since he began to take charge of Pacific Capital and led Pacific Capital to kill all sides in the Japanese market.
"Thank you." David thanked first, and then asked, "boss, I don't know what you mean by this sentence? If I tell you everything, I'm afraid we can't finish it all night."
Yang Jing smiled and waved her hand. "David, it's just us here. You can say what you think. In fact, I also have some own judgments on the recent economic situation in Southeast Asia, Japan and South Korea, so I want to hear your views so that I can make a final decision."
David's IQ is very high. Yang Jing even suspects that this guy's IQ is higher than himself. Therefore, when he heard Yang Jing's words, he immediately asked in surprise, "boss, are you going to do something to Southeast Asia?"
"HMM." Yang Jing nodded, "In the past two years, I have discovered some huge financial loopholes by studying the development of Southeast Asian countries. I think since I can find these loopholes, those guys on Wall Street can certainly find them, so I want to ask your opinion. If we agree, we can make a profit in Southeast Asia. Well, maybe we can also find them in Japan and South Korea Cut another large piece of meat off the. "
David rubbed his hands excitedly, "boss, in fact, what you said is wrong. We actually belong to those guys on Wall Street. Look, where we are sitting now, although it is a little away from Wall Street, although KY investment fund is now deeply hidden under the water, we are Wall Street giants!"
Yang Jing was stunned by this, and then shook his head with a bitter smile.
David is right. In 1996, there were about $7 trillion of international hot money in the world, but the funds owned by KY investment fund accounted for more than one tenth of this huge international hot money. It is definitely the largest giant on Wall Street!
"Boss, in fact, my judgment is the same as yours. Although several countries in Southeast Asia have developed rapidly in recent years, there are many and big loopholes in them. Although there are four little dragons in East Asia, they are all prosperous on the surface. Behind the scenes, the Southeast Asian countries represented by the so-called four little dragons have fatal problems in themselves and their domestic financial systems Loopholes. "
After a pause, David began to talk.
"In fact, not only Southeast Asian countries, but almost all countries in East Asia except China have one or another loopholes, which is caused by the economic form of Asia after the war. Countries and regions such as Singapore, Malaysia, Thailand, Japan and South Korea, bay island, Hong Kong Island and so on are export-oriented economies. They are very dependent on the world market. As long as the Asian economy shakes, it is inevitable There will be a situation that will affect the whole body. "
"First of all, the 'export substitution' model is an important reason for the economic success of many Asian countries. The so-called four little dragons in Asia are a typical representative of this economic model. However, this model also has three shortcomings: first, when the economy develops to a certain stage, the production cost will increase and the export will be restrained, resulting in the imbalance of the international balance of payments of these countries; second When this export-oriented strategy becomes the development strategy of many countries, it will squeeze each other; third, the ladder progress of products is a necessary condition for continuing to implement export substitution, and it is impossible to maintain competitiveness only by relying on the cheap advantage of resources. After these countries in Asia have achieved rapid growth, they have not solved the above problems. "
"Moreover, most of these countries are developing countries, and it is the common aspiration of developing countries to maintain a high economic growth rate. Only when the conditions for high-speed growth become insufficient, in order to maintain the speed, these countries have to turn to borrowing foreign debt to maintain economic growth. However, due to the poor economic development, some countries in Asia have been in the past two years In Southeast Asian countries, the real estate bubble only comes from bad loans and bad loans of bank loans. As for Korea, because large enterprises get too much money from banks, the bad assets will soon expand when the enterprises are in poor condition. The existence of bad assets in turn affects investor confidence. This is. Overdraft economy. High growth and the expansion of non-performing assets! This is an extremely dangerous thing! "
"However, the economic market system of these countries is immature. On the one hand, the government intervenes excessively in resource allocation, especially in the loan investment and projects of the financial system; on the other hand, the financial system, especially the regulatory system, is imperfect. This will lead to the further expansion of those dangers and eventually become the last straw to crush the camel."
Once David Anderson enters his own mode, it is absolutely to the point.
Yang Jing nodded slightly and said, "David, do you mean to say that there are some huge signs of crisis hidden in Southeast Asian countries?"
"Yes, I didn't just see it. As you said just now, many people on Wall Street saw it."
David took a sip of coffee, moistened his throat, and then said: "For example, when I had dinner with Charles Roberts of Morgan Stanley two months ago, he also mentioned this matter. He said that among Southeast Asian countries, the current situation in Thailand is the most dangerous. Countries like Thailand are playing with fire in their foreign exchange policy. In order to attract foreign investment, these countries maintain The fixed exchange rate and the expansion of financial liberalization on the one hand are fundamentally two contradictory policies. Because in order to maintain their domestic fixed exchange rate system, these countries must use foreign exchange reserves for a long time to make up for their deficits, which inevitably leads to the increase of foreign debt. Under such circumstances, these countries are bound to have too much medium and short-term debt Once the outflow of foreign capital exceeds the inflow of foreign capital, and the domestic foreign exchange reserves are not enough to make up for its deficiency, the devaluation of the country's currency is inevitable. "
"Charles and I have the same judgment. Thailand is a typical representative of this contradictory financial policy. Thailand's own financial system is not perfect, but before its financial system was straightened out, this country cancelled the control of the capital market in 1992, which made the flow of short-term funds unimpeded, and a large number of international hot money could take the opportunity to flow into Thailand Country. "
"Tianliang international hot money enters Thailand's financial market, which seems to make Thailand's economy prosper immediately, but it also buries a big guy like a nuclear bomb. Once the time is ripe, the nuclear bomb buried in Thailand's financial sector will be detonated. At that time, it will be Thailand's financial system that will be killed, and international hot money can think slowly With a gluttonous feast! "
Charles Roberts Yang Jing also knows that this guy worked at Goldman Sachs before and has a good personal relationship with David. But later, the guy changed jobs from Goldman Sachs to Morgan Stanley, but they still maintained a good friendship. Moreover, David is ready to dig Charles over, and Yang Jing agrees.
"Well, David, your judgment is almost the same as mine. That is to say, both of us, including Charles, think that a financial crisis is about to break out in Southeast Asian countries. So David, are you sure you will kill all sides again in this crisis?"
"Ha ha, boss, this is my favorite job! The Japanese market has become a backwater and can't excite me anymore. My big knife has long been hungry and thirsty..."
Please report us if you find any errors so we can fix it asap!
The reason why Yang Jing didn't start to intervene in apple in the 1980s is that she is waiting for this opportunity now.
In fact, from the establishment of apple to later generations, the company became the first company with a market value of more than $trillion in the world. The best time to get involved in the company is to obtain Angel round investment at the beginning of the company's establishment, and the other is the second half of 1996.
But Joe gang leader's strength is well known. Even when the 21-year-old Hippie founded apple with HP engineer Steve Wozniak and Ron Wayne, who used to do slot machine business, on April 1, 1976, he didn't want to do Angel round financing.
At the beginning of his business, gang leader Joe attached great importance to his shares, not to mention that when he was driven out of apple and drifted outside for more than ten years, he saw the real blood and ruthlessness of capital. After returning to Apple again, he was more reluctant to introduce Wall Street capital to Apple.
In fact, if he had not been driven out of apple, but had been the boss of apple, with his business talent and advanced design concept, there might not be a computer brand like Dell.
Failure is not terrible, the terrible thing is that I don't know how to work hard again!
Jobs is obviously not such a person. In those years, Lisa database and appleiie may have really brought great losses to apple, but if Apple's shareholders can insist on believing in this genius, jobs will never disappoint those who believe in him, just like what he did after he returned to apple.
To use a common word to describe jobs, that is, this guy is like a perfect diamond. Even if he has been covered with dust, his bright light can not be suppressed after all.
If Apple's shareholders could trust Joe more, maybe Joe would launch personal PCs and laptops with better shape and performance in the 1980s, so as to become the leader in the industry again. Who can tell such a thing? But judging from the performance of gang leader Joe in the future, if he had not left apple at the beginning, he would probably have done such a thing.
At that time, Dell, HP and even IBM are likely to be suppressed by apple in terms of personal PC.
But that's all hypothetical. The second half of 1996 is the best time to get involved in apple at the least cost.
Yang Jing left it to Henry. In terms of Henry's talent in this field, he will be able to do it without leakage.
In this uncertain time, the change of equity in the hands of more than a dozen or dozens of small shareholders of Apple will never attract other people's attention.
After telling Henry, Yang Jing called David Anderson in again.
"David, what do you think of the recent economic situation in Southeast Asia, Japan and South Korea?" Yang Jing poured David a cup of coffee and sat opposite David.
At this time, David Anderson is almost 60 years old. Maybe his age has increased. Recently, he has achieved too many successes in more than a decade. At this time, he can't see the situation that his IQ was high and his EQ was too low. Now David Anderson seems to be a very wise financial tycoon.
Yang Jing still remembers the scene when she first met David more than ten years ago. At that time, David, who was in his forties and sixties, was a very old-fashioned guy. It is said that David with black blood should be more lively, but the fact is just the opposite.
In the later business, although David showed unparalleled investment talent, he was really not good in dealing with the world. If Yang Jing, old Mike and Henry hadn't defended him, maybe he would have left KY investment fund.
However, the environment can change people's character. This sentence is not nonsense, but there is a certain truth. At least this sentence is reflected incisively and vividly in David.
David has really changed a lot since he began to take charge of Pacific Capital and led Pacific Capital to kill all sides in the Japanese market.
"Thank you." David thanked first, and then asked, "boss, I don't know what you mean by this sentence? If I tell you everything, I'm afraid we can't finish it all night."
Yang Jing smiled and waved her hand. "David, it's just us here. You can say what you think. In fact, I also have some own judgments on the recent economic situation in Southeast Asia, Japan and South Korea, so I want to hear your views so that I can make a final decision."
David's IQ is very high. Yang Jing even suspects that this guy's IQ is higher than himself. Therefore, when he heard Yang Jing's words, he immediately asked in surprise, "boss, are you going to do something to Southeast Asia?"
"HMM." Yang Jing nodded, "In the past two years, I have discovered some huge financial loopholes by studying the development of Southeast Asian countries. I think since I can find these loopholes, those guys on Wall Street can certainly find them, so I want to ask your opinion. If we agree, we can make a profit in Southeast Asia. Well, maybe we can also find them in Japan and South Korea Cut another large piece of meat off the. "
David rubbed his hands excitedly, "boss, in fact, what you said is wrong. We actually belong to those guys on Wall Street. Look, where we are sitting now, although it is a little away from Wall Street, although KY investment fund is now deeply hidden under the water, we are Wall Street giants!"
Yang Jing was stunned by this, and then shook his head with a bitter smile.
David is right. In 1996, there were about $7 trillion of international hot money in the world, but the funds owned by KY investment fund accounted for more than one tenth of this huge international hot money. It is definitely the largest giant on Wall Street!
"Boss, in fact, my judgment is the same as yours. Although several countries in Southeast Asia have developed rapidly in recent years, there are many and big loopholes in them. Although there are four little dragons in East Asia, they are all prosperous on the surface. Behind the scenes, the Southeast Asian countries represented by the so-called four little dragons have fatal problems in themselves and their domestic financial systems Loopholes. "
After a pause, David began to talk.
"In fact, not only Southeast Asian countries, but almost all countries in East Asia except China have one or another loopholes, which is caused by the economic form of Asia after the war. Countries and regions such as Singapore, Malaysia, Thailand, Japan and South Korea, bay island, Hong Kong Island and so on are export-oriented economies. They are very dependent on the world market. As long as the Asian economy shakes, it is inevitable There will be a situation that will affect the whole body. "
"First of all, the 'export substitution' model is an important reason for the economic success of many Asian countries. The so-called four little dragons in Asia are a typical representative of this economic model. However, this model also has three shortcomings: first, when the economy develops to a certain stage, the production cost will increase and the export will be restrained, resulting in the imbalance of the international balance of payments of these countries; second When this export-oriented strategy becomes the development strategy of many countries, it will squeeze each other; third, the ladder progress of products is a necessary condition for continuing to implement export substitution, and it is impossible to maintain competitiveness only by relying on the cheap advantage of resources. After these countries in Asia have achieved rapid growth, they have not solved the above problems. "
"Moreover, most of these countries are developing countries, and it is the common aspiration of developing countries to maintain a high economic growth rate. Only when the conditions for high-speed growth become insufficient, in order to maintain the speed, these countries have to turn to borrowing foreign debt to maintain economic growth. However, due to the poor economic development, some countries in Asia have been in the past two years In Southeast Asian countries, the real estate bubble only comes from bad loans and bad loans of bank loans. As for Korea, because large enterprises get too much money from banks, the bad assets will soon expand when the enterprises are in poor condition. The existence of bad assets in turn affects investor confidence. This is. Overdraft economy. High growth and the expansion of non-performing assets! This is an extremely dangerous thing! "
"However, the economic market system of these countries is immature. On the one hand, the government intervenes excessively in resource allocation, especially in the loan investment and projects of the financial system; on the other hand, the financial system, especially the regulatory system, is imperfect. This will lead to the further expansion of those dangers and eventually become the last straw to crush the camel."
Once David Anderson enters his own mode, it is absolutely to the point.
Yang Jing nodded slightly and said, "David, do you mean to say that there are some huge signs of crisis hidden in Southeast Asian countries?"
"Yes, I didn't just see it. As you said just now, many people on Wall Street saw it."
David took a sip of coffee, moistened his throat, and then said: "For example, when I had dinner with Charles Roberts of Morgan Stanley two months ago, he also mentioned this matter. He said that among Southeast Asian countries, the current situation in Thailand is the most dangerous. Countries like Thailand are playing with fire in their foreign exchange policy. In order to attract foreign investment, these countries maintain The fixed exchange rate and the expansion of financial liberalization on the one hand are fundamentally two contradictory policies. Because in order to maintain their domestic fixed exchange rate system, these countries must use foreign exchange reserves for a long time to make up for their deficits, which inevitably leads to the increase of foreign debt. Under such circumstances, these countries are bound to have too much medium and short-term debt Once the outflow of foreign capital exceeds the inflow of foreign capital, and the domestic foreign exchange reserves are not enough to make up for its deficiency, the devaluation of the country's currency is inevitable. "
"Charles and I have the same judgment. Thailand is a typical representative of this contradictory financial policy. Thailand's own financial system is not perfect, but before its financial system was straightened out, this country cancelled the control of the capital market in 1992, which made the flow of short-term funds unimpeded, and a large number of international hot money could take the opportunity to flow into Thailand Country. "
"Tianliang international hot money enters Thailand's financial market, which seems to make Thailand's economy prosper immediately, but it also buries a big guy like a nuclear bomb. Once the time is ripe, the nuclear bomb buried in Thailand's financial sector will be detonated. At that time, it will be Thailand's financial system that will be killed, and international hot money can think slowly With a gluttonous feast! "
Charles Roberts Yang Jing also knows that this guy worked at Goldman Sachs before and has a good personal relationship with David. But later, the guy changed jobs from Goldman Sachs to Morgan Stanley, but they still maintained a good friendship. Moreover, David is ready to dig Charles over, and Yang Jing agrees.
"Well, David, your judgment is almost the same as mine. That is to say, both of us, including Charles, think that a financial crisis is about to break out in Southeast Asian countries. So David, are you sure you will kill all sides again in this crisis?"
"Ha ha, boss, this is my favorite job! The Japanese market has become a backwater and can't excite me anymore. My big knife has long been hungry and thirsty..."
The reason why Yang Jing didn't start to intervene in apple in the 1980s is that she is waiting for this opportunity now.In fact, from the establishment of apple to later generations, the company became the first company with a market value of more than $trillion in the world. The best time to get involved in the company is to obtain Angel round investment at the beginning of the company's establishment, and the other is the second half of 1996.But Joe gang leader's strength is well known. Even when the 21-year-old Hippie founded apple with HP engineer Steve Wozniak and Ron Wayne, who used to do slot machine business, on April 1, 1976, he didn't want to do Angel round financing.At the beginning of his business, gang leader Joe attached great importance to his shares, not to mention that when he was driven out of apple and drifted outside for more than ten years, he saw the real blood and ruthlessness of capital. After returning to Apple again, he was more reluctant to introduce Wall Street capital to Apple.In fact, if he had not been driven out of apple, but had been the boss of apple, with his business talent and advanced design concept, there might not be a computer brand like Dell.Failure is not terrible, the terrible thing is that I don't know how to work hard again!Jobs is obviously not such a person. In those years, Lisa database and appleiie may have really brought great losses to apple, but if Apple's shareholders can insist on believing in this genius, jobs will never disappoint those who believe in him, just like what he did after he returned to apple.To use a common word to describe jobs, that is, this guy is like a perfect diamond. Even if he has been covered with dust, his bright light can not be suppressed after all.If Apple's shareholders could trust Joe more, maybe Joe would launch personal PCs and laptops with better shape and performance in the 1980s, so as to become the leader in the industry again. Who can tell such a thing? But judging from the performance of gang leader Joe in the future, if he had not left apple at the beginning, he would probably have done such a thing.At that time, Dell, HP and even IBM are likely to be suppressed by apple in terms of personal PC.But that's all hypothetical. The second half of 1996 is the best time to get involved in apple at the least cost.Yang Jing left it to Henry. In terms of Henry's talent in this field, he will be able to do it without leakage.In this uncertain time, the change of equity in the hands of more than a dozen or dozens of small shareholders of Apple will never attract other people's attention.After telling Henry, Yang Jing called David Anderson in again."David, what do you think of the recent economic situation in Southeast Asia, Japan and South Korea?" Yang Jing poured David a cup of coffee and sat opposite David.At this time, David Anderson is almost 60 years old. Maybe his age has increased. Recently, he has achieved too many successes in more than a decade. At this time, he can't see the situation that his IQ was high and his EQ was too low. Now David Anderson seems to be a very wise financial tycoon.Yang Jing still remembers the scene when she first met David more than ten years ago. At that time, David, who was in his forties and sixties, was a very old-fashioned guy. It is said that David with black blood should be more lively, but the fact is just the opposite.In the later business, although David showed unparalleled investment talent, he was really not good in dealing with the world. If Yang Jing, old Mike and Henry hadn't defended him, maybe he would have left KY investment fund.However, the environment can change people's character. This sentence is not nonsense, but there is a certain truth. At least this sentence is reflected incisively and vividly in David.David has really changed a lot since he began to take charge of Pacific Capital and led Pacific Capital to kill all sides in the Japanese market."Thank you." David thanked first, and then asked, "boss, I don't know what you mean by this sentence? If I tell you everything, I'm afraid we can't finish it all night."Yang Jing smiled and waved her hand. "David, it's just us here. You can say what you think. In fact, I also have some own judgments on the recent economic situation in Southeast Asia, Japan and South Korea, so I want to hear your views so that I can make a final decision."David's IQ is very high. Yang Jing even suspects that this guy's IQ is higher than himself. Therefore, when he heard Yang Jing's words, he immediately asked in surprise, "boss, are you going to do something to Southeast Asia?""HMM." Yang Jing nodded, "In the past two years, I have discovered some huge financial loopholes by studying the development of Southeast Asian countries. I think since I can find these loopholes, those guys on Wall Street can certainly find them, so I want to ask your opinion. If we agree, we can make a profit in Southeast Asia. Well, maybe we can also find them in Japan and South Korea Cut another large piece of meat off the. "David rubbed his hands excitedly, "boss, in fact, what you said is wrong. We actually belong to those guys on Wall Street. Look, where we are sitting now, although it is a little away from Wall Street, although KY investment fund is now deeply hidden under the water, we are Wall Street giants!"Yang Jing was stunned by this, and then shook his head with a bitter smile.David is right. In 1996, there were about $7 trillion of international hot money in the world, but the funds owned by KY investment fund accounted for more than one tenth of this huge international hot money. It is definitely the largest giant on Wall Street!"Boss, in fact, my judgment is the same as yours. Although several countries in Southeast Asia have developed rapidly in recent years, there are many and big loopholes in them. Although there are four little dragons in East Asia, they are all prosperous on the surface. Behind the scenes, the Southeast Asian countries represented by the so-called four little dragons have fatal problems in themselves and their domestic financial systems Loopholes. "After a pause, David began to talk."In fact, not only Southeast Asian countries, but almost all countries in East Asia except China have one or another loopholes, which is caused by the economic form of Asia after the war. Countries and regions such as Singapore, Malaysia, Thailand, Japan and South Korea, bay island, Hong Kong Island and so on are export-oriented economies. They are very dependent on the world market. As long as the Asian economy shakes, it is inevitable There will be a situation that will affect the whole body. ""First of all, the 'export substitution' model is an important reason for the economic success of many Asian countries. The so-called four little dragons in Asia are a typical representative of this economic model. However, this model also has three shortcomings: first, when the economy develops to a certain stage, the production cost will increase and the export will be restrained, resulting in the imbalance of the international balance of payments of these countries; second When this export-oriented strategy becomes the development strategy of many countries, it will squeeze each other; third, the ladder progress of products is a necessary condition for continuing to implement export substitution, and it is impossible to maintain competitiveness only by relying on the cheap advantage of resources. After these countries in Asia have achieved rapid growth, they have not solved the above problems. ""Moreover, most of these countries are developing countries, and it is the common aspiration of developing countries to maintain a high economic growth rate. Only when the conditions for high-speed growth become insufficient, in order to maintain the speed, these countries have to turn to borrowing foreign debt to maintain economic growth. However, due to the poor economic development, some countries in Asia have been in the past two years In Southeast Asian countries, the real estate bubble only comes from bad loans and bad loans of bank loans. As for Korea, because large enterprises get too much money from banks, the bad assets will soon expand when the enterprises are in poor condition. The existence of bad assets in turn affects investor confidence. This is. Overdraft economy. High growth and the expansion of non-performing assets! This is an extremely dangerous thing! ""However, the economic market system of these countries is immature. On the one hand, the government intervenes excessively in resource allocation, especially in the loan investment and projects of the financial system; on the other hand, the financial system, especially the regulatory system, is imperfect. This will lead to the further expansion of those dangers and eventually become the last straw to crush the camel."Once David Anderson enters his own mode, it is absolutely to the point.Yang Jing nodded slightly and said, "David, do you mean to say that there are some huge signs of crisis hidden in Southeast Asian countries?""Yes, I didn't just see it. As you said just now, many people on Wall Street saw it."David took a sip of coffee, moistened his throat, and then said: "For example, when I had dinner with Charles Roberts of Morgan Stanley two months ago, he also mentioned this matter. He said that among Southeast Asian countries, the current situation in Thailand is the most dangerous. Countries like Thailand are playing with fire in their foreign exchange policy. In order to attract foreign investment, these countries maintain The fixed exchange rate and the expansion of financial liberalization on the one hand are fundamentally two contradictory policies. Because in order to maintain their domestic fixed exchange rate system, these countries must use foreign exchange reserves for a long time to make up for their deficits, which inevitably leads to the increase of foreign debt. Under such circumstances, these countries are bound to have too much medium and short-term debt Once the outflow of foreign capital exceeds the inflow of foreign capital, and the domestic foreign exchange reserves are not enough to make up for its deficiency, the devaluation of the country's currency is inevitable. ""Charles and I have the same judgment. Thailand is a typical representative of this contradictory financial policy. Thailand's own financial system is not perfect, but before its financial system was straightened out, this country cancelled the control of the capital market in 1992, which made the flow of short-term funds unimpeded, and a large number of international hot money could take the opportunity to flow into Thailand Country. ""Tianliang international hot money enters Thailand's financial market, which seems to make Thailand's economy prosper immediately, but it also buries a big guy like a nuclear bomb. Once the time is ripe, the nuclear bomb buried in Thailand's financial sector will be detonated. At that time, it will be Thailand's financial system that will be killed, and international hot money can think slowly With a gluttonous feast! "Charles Roberts Yang Jing also knows that this guy worked at Goldman Sachs before and has a good personal relationship with David. But later, the guy changed jobs from Goldman Sachs to Morgan Stanley, but they still maintained a good friendship. Moreover, David is ready to dig Charles over, and Yang Jing agrees."Well, David, your judgment is almost the same as mine. That is to say, both of us, including Charles, think that a financial crisis is about to break out in Southeast Asian countries. So David, are you sure you will kill all sides again in this crisis?""Ha ha, boss, this is my favorite job! The Japanese market has become a backwater and can't excite me anymore. My big knife has long been hungry and thirsty..."
