I lost my vegetative state, and I became the richest man in the world

Chapter 827 Hong Kong Dollar Crisis!The solution proposed by Yang Ming! !
Empire State Corporation headquarters officially relocated from Federal Building to Empire State Corporation Building.

These days, Xiangjiang's news has always been related to this.

Besides.

One more serious thing.

The Hong Kong dollar crisis in Hong Kong is getting worse.

In fact, the Hong Kong dollar crisis in Hong Kong did not appear just now, but began to depreciate since the 80s.

Due to worries about the future of Xiangjiang, a large amount of funds left Xiangjiang. In addition, since 1977, due to the excessive growth of money and credit, the trade deficit has expanded, inflation, and the Hong Kong dollar exchange rate has continued to decline. In addition, there have been fewer speculative activities. Some panic buying of commodities further exacerbated the depreciation of the Hong Kong dollar.

The Hong Kong dollar exchange rate was 1981 Hong Kong dollars to 5.13 US dollar in 1, and has been falling since then. In September 1983, the Hong Kong dollar exchange rate recorded a new low, falling to a low of 9 Hong Kong dollars to 9.60 US dollar.

In other words, the Hong Kong dollar has depreciated severely, which has greatly affected Hong Kong's finance and economy.

On the afternoon of July 1983, 9.

On the sixth day after Yang Ming's inauguration ceremony and housewarming ceremony of the Empire Group Building, Yang Ming finished talking with the last guest and sent the guest out in person.

Lin Dezhong received a call from the Governor's Mansion. Governor Mai Lihao hoped to meet Yang Ming at the Governor's Mansion.

When Yang Ming heard the news, he already guessed that it must be related to the outbreak of the Hong Kong dollar crisis.

Yang Ming already knew about the emergence of the Hong Kong dollar crisis, and what he got from it was not for profit.

However, Yang Ming really does not want the Hong Kong dollar to continue to depreciate, which will hit the economic development of the entire Xiangjiang. Now, Yang Ming has monopolized all walks of life in Xiangjiang, affecting the economy of Xiangjiang, in fact, affecting the development of the imperial group.

When Lin Dezhong was getting ready, Yang Ming drove to the Governor's Mansion.

Just got out of the car.

Mr. and Mrs. McLehose had come out to greet them.

"Sir Yang, hello."

Mai Lihao felt that at this time, Xiangjiang was becoming more and more inseparable from Sir Yang.

Still in every way.

The most important thing is that the current industry of the Imperial Group has entered all walks of life.

In other words, Yang Ming's every move is too important.

Yang Ming and Mai Lihao went to the Governor's Mansion.

There in the study.

Yang Ming didn't see the white-faced Jude.

Jude has gone to Yanjing.

Basically, it was Yude who went to Yanjing on behalf of the Governor's Mansion.

Historically, Jude probably died of a heart attack due to running too much.

"Sir Yang, the Hong Kong dollar has depreciated severely. We have invested a lot of money, but there is still no way to stabilize the Hong Kong dollar."

Of course Yang Ming knew the reason.

Historically, the outbreak of the severe Hong Kong dollar crisis had a lot to do with the flight of a large number of British and even Chinese capital, who took a large amount of money away.

Now that Yang Ming is planning ahead, he will hold a lot of Chinese capital through the stock market in advance.

Xiangjiang's most important British capital, except Taikoo, has basically been controlled by him.

In this case, the Hong Kong dollar still experienced such a serious depreciation.

Nature is not formed in a short time, but in a long time.Moreover, the most important thing is that investors have no confidence in the future of Xiangjiang.

"Sir Yang, I wonder if you have a way to solve this problem?"

Mai Lihao looked at Yang Ming and said.

This series of outbreaks of crises has begun to affect Mai Lihao's position in the Xiangjiang Governor's Mansion.

Historically, Judah is now in power.

Because of Yang Ming's relationship, now that Mai Lihao is in power, he began to feel confused and scared.

McLehose didn't expect that Xiangjiang had so many problems since last year that he even wanted to retire early and return to London.

At this moment, he felt that the best way to help solve this problem was Sir Yang's action.

"Have."

"Sir Yang, tell me quickly."

"Mr. Governor, the pegged exchange rate system must be adopted immediately, and the Hong Kong dollar will be pegged to the U.S. dollar at an exchange rate of 7.8 Hong Kong dollars to one U.S. dollar. That is to say, the Hong Kong dollar and the U.S. dollar are completely pegged, and the Hong Kong dollar will only depreciate when the U.S. dollar depreciates."

Now in the world, the dollar is the most stable.

At this point, the British pound is definitely not good.

In the past, the Hong Kong dollar was pegged to the pound. With the fall of the Great Y Empire, the pound has become unstable. There must be a problem with the peg between the Hong Kong dollar and the pound.

As for gold.

Although gold is still very stable, gold has also experienced skyrocketing and falling in recent years, but it is still unstable, especially the Chinese-funded bank crisis that broke out last year, which was caused by Xie Liyuan's gold coupons, and it must not be linked to gold.

In this case, it is most appropriate to use the linked exchange rate system to peg the Hong Kong dollar to the US dollar.

Yang Ming is not a financial expert, but he knew about Xiangjiang's economy after studying Xiangjiang's economy in his previous life.

Linked exchange rate system is a fixed exchange rate system, which is to fix the exchange rate between the local currency and a specific foreign currency, and strictly follow the established conversion ratio, so that the currency issuance is linked with the foreign exchange reserves.

If the currency in question is the U.S. dollar, it may also be called a "dollarization regime."

According to the regulations of the currency board system, the flow and stock of the monetary base must be fully supported by foreign exchange reserves.

In other words, any change in the monetary base must be consistent with a corresponding change in foreign exchange reserves.

Linked exchange rates are often associated with stability.

Later, many developed countries adopted the joint exchange system to create a stable environment for foreign investment.

Under the LERS, an investor will always know the value of his/her investment projects without worrying about daily exchange rate fluctuations.

In addition, the peg is more likely to help reduce inflation due to greater confidence in the stability of the currency.

At the end of the 19th century, country Y proposed and established a linked exchange rate system for the colonies.

As a colony of country Y, Hong Kong adopted this exchange rate system, which was linked to the British pound. It was abolished in 1972 and reactivated in 1983. It was linked to the US dollar, 7.8 Hong Kong dollars to 1 US dollar.

Obviously, the solution proposed by Yang Ming is the best solution now.

After McLehose finished listening, he already understood.

"Sir Yang, thank you for your suggestion."

Yang Ming knew that even if he didn't propose it, the Governor's Mansion still followed this method.

Only, it might be delayed a bit.

"Mr. Governor, Xiangjiang is an international free trade port and the third largest financial center in the world. This is the best way now."

Yang Ming originally wanted to propose that the overseas trust bank, like Huifeng Bank and Zhada Bank, be the bank with the right to issue banknotes in Xiangjiang.Yang Ming knew that it was not time yet.

After the two sides talk.

McLehose believes that Sir Yang's proposal of this solution should solve the current Hong Kong dollar crisis.

Yang Ming came out of the study.

The Mailihao couple personally sent Yang Ming out.

When he saw Yang Ming getting into the Rolls-Royce and leaving, Mai Lihao knew that Xiangjiang could not do without Sir Yang more and more in every aspect.

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(End of this chapter)