Countercurrent 1982

In fact, Luo Qi’s visit to China this time, besides Tianyin Group, he has other itinerary arrangements, including the inspection of China’s four major state-owned banks.

The main reason why Tianyin Group was chosen as the first stop was because Roach accepted the entrustment of the Wall Street Foundation. They couldn't wait to learn about this somewhat mysterious Chinese private enterprise, and learned from it that it had appeared in the Thai market before. Where did the foreign exchange of 10 billion U.S. dollars come from? After all, it is indeed an extraordinary thing for a Chinese private enterprise to have such a high amount of capital.

In fact, before Roach came to China this time, the investment of American capital in China was increasing, especially in recent years, it began to show explosive growth.

U.S. investment in China has been divided into two stages from the reform and opening up to the present. The first stage is from 1979 to 1991. During this period, the cumulative amount of U.S. investment agreements in China was nearly 47.25 billion U.S. dollars, and the actual investment amount was 26.63 billion U.S. dollars. Investment projects In general, in the first stage, the development speed of US direct investment in China was relatively slow.

The main reason why U.S. investment in China was slow in the first stage was because of China’s policy problems at that time. At that time, China’s system made a breakthrough. A series of policies to encourage foreign direct investment were introduced, including tax incentives, allowing certain However, during this period of time, the foreign investment policy is export-oriented, that is, to encourage export enterprises to invest, while most American enterprises are market-oriented, and their income in the Chinese market is difficult to convert into foreign exchange to repay domestic debts and To share the profits of investors, in layman's terms, it is difficult for the United States to convert the investment in China into US dollars and take it back to the country. Other developing countries are bigger and attract less investment as a matter of course.

However, since 1992, China's investment policy has been adjusted, and service industries including communications, transportation, banking, and insurance have been opened. At the same time, from 1992 to 1997, China's economic development has grown by leaps and bounds, with an average annual growth rate of 11%. Both mentioned stimulating interest in the Chinese market by U.S. investors, especially large multinational corporations, leading to a surge in investment.

Because of a series of reasons, the financial circles in the United States have also begun to gradually focus on the east. Tianyin Group's world in Thailand is just an introduction. In fact, as early as a few years ago, some consortiums on Wall Street had already planned a series Hua Investment's plan includes cooperating with China's four major state-owned banks and assisting the four state-owned banks to list in the United States, and they can buy stocks for delivery at low prices, so as to harvest a wave through the US stock market. This time in China, it is also mainly It is to discuss this matter.

In fact, judging from the situation of later generations, China’s four major state-owned banks were indeed listed in the United States, and when Bank of China obtained sufficient funds, American capital also reaped a wave of dividends from China’s reform and opening up. According to subsequent statistics, More than half of the profits brought by China's reform and opening up in the past 20 years have been harvested by Wall Street capital. The result in exchange is that China has obtained relatively peaceful development opportunities for a long time, and has not encountered large-scale blockade and encirclement by Western countries on the international stage. .

But for Duan Yun, he will definitely not let Wall Street capital harvest him. Although if Tianyin Group can really be listed in the United States, Duan Yun is likely to enter the ranks of the world's top rich people, but from a long time Looking at it, his business may gradually be out of his control.

The greed of capital is very likely to destroy a company, even a prestigious scientific research company. Regarding this point, there are actually lessons for future generations.

The most famous of these is the famous Bell Labs.

This laboratory, established in 1925, can be said to be the most successful private laboratory in human history, with names across the world.

At the beginning of its establishment, the company allocated 1200 million US dollars to the laboratory with a swipe of a pen. This figure was simply astronomical 100 years ago. Even today, it exceeds the research and development expenses of most companies.

Later, this laboratory was full of talents, and produced achievements that most countries in the world could not achieve, including 11 Nobel Prize winners in physics, four Nobel Prize winners in the computer industry, Turing Award winners, and 16 American scientists. Winners of the highest science and technology award, their achievements are also very fruitful, and many technologies and products developed have affected the development of the entire human science and technology.

Even without these achievements of Bell Labs, there would be no computers, TVs, mobile phones, and cameras today. From that day in the city, Bell Labs obtained a patent every day, and eventually produced more than 3 patents in total.

The huge strength allowed AT, which belongs to Bell Labs, to monopolize the telephone business in the United States and Canada for a long time. In China, it is probably equivalent to Huawei and China Telecom in later generations.

Because AT has high profits and controls most of the US market, it can continue to support Bell Labs' high R&D expenses.

By 1994, the turnover of AT company reached 700 billion US dollars. In this year, Mei Yiqiang, the president of Bell Labs, led a delegation to visit China. The top leader of the country at that time received them in person. This kind of treatment is unprecedented.

But this is the last glory of AT.

In 1995, At's development reached its peak, but investors were not satisfied, they wanted to drum up more of their money.

The stock market was booming that year, and they also thought it was an excellent opportunity, so the equipment manufacturing department and the telecommunications department were separated, and AT was reorganized again, splitting into AT, Lucent and NCR.

Bell Labs was also split in two, with Lucent acquiring the Bell Labs name and AT owning the other half, which was later named Shannon Labs.

So in February 1996, Lucent went public under the leadership of well-known Wall Street investment banks, raising $2 billion, which became the largest listing in history at that time.

Investors' predictions were correct. Lucent's stock price soared, and Wall Street investment executives and middle managers made a fortune.

However, this one-time sale does not mean much to the company's development in the long run, but the company's independent directors only need to guarantee the interests of investors.

For them, short-term gains are the most important.

In the previous Bell Labs, it was very easy to feed 2 people because of the backing of AT, and it was enough to guarantee their research and development capabilities.

But the separated Lucent profits were not enough to support the laboratory's expenses, and scientists and engineers were required to turn their research and development to products that could make quick money.

The ability to innovate is not enough, and no major inventions have been made since then.