The youngest son of the chaebol family, Hu Mou Xianmin

Chapter 110 Bangzi Guochao: Want us to pay back?numb
As the news from the Blue House spread, companies and chaebols throughout the country fell into mourning.The business leaders who attended the meeting were instantly stunned!None of them expected that the government that had encouraged (forced) them to borrow massive loans and expand wildly would now require them to repay the loans as soon as possible.The reason is that the country that provided the overseas loan has sent a note, requiring it to be returned as soon as possible!

"Repay the money? What are you going to pay back!" Many bigwigs who came to the conference couldn't help complaining that in the past two years, in order to expand production and earn more profits, most of the profits that these companies will earn Reinvesting in the factory, adding production lines, and expanding the scale have become their first choice. Thinking about making big money and making small money, wealth is rolling in more and more.Who would have thought that there would be such a release today? !
Among the big guys present, the ones with the ugliest faces were Daewoo Group and Shunyang Group.The former is because of its high-debt, high-leverage development model, which can be called the best in the country. Regardless of the current glory of Daewoo Group, it can be called the most successful multinational company in the country, even among the world's top 500 companies. It's close to the front, but my family knows about my family's bad things.

In the past two years of crazy expansion, the capital chain of the entire Daewoo Group has been tense. This sudden notice requiring them to repay the loan, isn't this killing him?With the little money in their group's books, there is still a hammer left after the wages of the employees are paid!Where does he have to raise so much money!Chairman Jin Yuzhong's face was very dark.

(Note: The total liabilities of the 12 companies of the Daewoo Group exceed 70 trillion won, while all assets are less than 20 trillion won, a debt ratio of over 300%!)
As for Chen Yangji of the Shunyang Group, he didn't look too good to see where he was going.In order to buy Hando Steel in the past two years, it almost emptied the cash flow on the books of the entire Shunyang Group, but Hando Steel’s debts of more than 4 trillion won have only been repaid by 2-3000 billion.Moreover, after the acquisition of this "hot potato", it did not help the development of Shunyang Automobile much.

I originally thought that without Han Dao Steel, Daying Group's heavy industry companies would suffer heavy losses, but that old fox Zhu Yirong actually "hooked up" with Miracle Group and purchased a large amount of steel and iron ore from overseas with the help of the other party's cold gold shipping. .This is really a waste of money!
I originally thought that although my eldest son was a little less capable, at least he still had some courage in doing things.Now that I think about it, this guy is a waste!I spent so much extra money to buy such a thing. It is tasteless and it is a pity to throw it away!Chen Yangji sighed quietly. Fortunately, other subsidiaries of the group have made a lot of profits in the past two years, especially the performance of Shunyang Department Store in the past two years. The performance of the group has gradually increased, and the group's account balance has gradually become abundant again. "As for repaying the money? I can only pay back part of it. It's more than that anyway! I can only continue to owe the rest..." Chen Yangji had a headache, that's all!Don’t worry if you have too much debt, just take it one step at a time!

Although other chaebols and companies do not have such high liabilities as Daewoo Group and Soonyang Group, the situation is not optimistic. Currently, there is not much funds left on the company's books, and it is impossible to repay all the loans.

At the end of the meeting, everyone walked out in frustration. Although Yongsan and the Minister of Finance did not order them to repay all the loans immediately, they also understood that the money must be repaid. What if it is not? ...Make plans early!

……

Looking at the people leaving, Yong San was a little discouraged. He had forced so many chaebols and companies to pay back money. He was going to be the president for the last time, and he couldn't even think about re-election!
"It's just that these guys can really pay back so much money?" Jin Yongsan said a little disappointed. Except for him, no president has ever been so sad. What kind of thing!
Facing Yongsan's question, the Minister of Finance was silent, he didn't know how to speak at all.What is the situation of these enterprises, how could he not know?It's just that once the cruel truth is told, it will only severely hit the president in front of him. Forget it, don't say it, it's too heartbreaking...

Looking at the silent Minister of Finance, Jin Yongsan, who was physically and mentally exhausted, already knew the answer. It seemed that he would probably use foreign exchange reserves to tide over the difficulties in the end.It's just that their foreign exchange reserves of less than 400 billion US dollars can really withstand it?Those speculators are not good people!

……

After the collapse of the Thai baht, the Thai government had no choice but to seek help from the IMF, a country-led organization.

(Note: The IMF is one of the international organizations established in Washington on December 1944, 7, based on the Agreement of the International Monetary Fund signed at the Bretton Woods Conference in July 1945. It was established at the same time as the World Bank. It is the world's two largest financial institution. Its responsibility is to monitor currency exchange rates and trade conditions of various countries, provide technical and financial assistance, and ensure the normal operation of the global financial system.)
After a week or so of urgent negotiations, the Taiguo government finally reached an agreement with the IMF on a US$1997 billion financing package in early August 8. Immediately after that, some measures were taken to carry out structural reforms for banks and enterprises, and relax Restrictions on Foreign Ownership.

Under the program framework organized by the IMF, the Thai government that has received assistance must allow greater participation of foreign capital in important industries that have been opened up.The most representative one is that foreign companies are allowed to hold controlling stakes in banking, financial, and securities companies for 10 years.However, it also stipulates that any equity exceeding 10% in foreign companies must be sold back to Thai investors after 49 years.

Faced with such blatantly exploitative clauses, the desperate Taiguo officials finally accepted it while pinching their noses.After all, it is better to be controlled and exploited by Western countries such as the Beautiful Country and foreign capital than to go bankrupt. The people in the country will not be able to survive!

……

Seeing the fate of Taiguo, the rest of the countries panicked even more. They neither wanted to be exploited by Western countries, nor did they want the country to go bankrupt.But things backfired.Soon, the currencies of the Philippines and Indonesia, which are close to Taiguo, ushered in the attacks of international speculators.

Fei Lubin, who was already short of money and relied on borrowing money to survive, had almost no power to resist when faced with the speculators' attacks.It turns out that from 1980 to 1993, Filipin's fiscal deficit showed an expanding trend. In 1980, the fiscal deficit was 3.3 million pesos, and by 1993 it reached 218.9 billion pesos.

In order to solve the problem of long-term fiscal deficit, Feilibin borrowed heavily from overseas countries and financial institutions.Feilubin, which was already in debt, had no extra money to resist speculators' short selling, and could only watch the exchange rate of the peso and the US dollar fall below the fixed value.Indonesia, a brother in distress, did not fare much better. The two countries failed to hold on for even half a month before falling one after another, and successively lowered the exchange rate of their currencies against the US dollar.

　The third update has been uploaded~!Thank you for your support~

　　
　
(End of this chapter)