Chapter 970 Chaos Begins
Liu Tao looked at the intelligence.
International hot money was unwilling to leave Hong Kong and headed north to Japan and South Korea in Southeast Asia.
South Korea was relatively weak and soon couldn't hold on. In mid-November, the Korean won gave up its fixed exchange rate against the US dollar, and then the Korean won plummeted wildly, depreciating by half in a week. This was equivalent to cutting half of the "cake" made by Koreans in recent decades. The problem of capital difficulties for Korean companies became more and more prominent. Chaebols such as Haitian, Sammi, and Jinro went bankrupt one after another. Among the top 30 chaebols, 6 have already gone bankrupt. People even began to doubt whether Samsung, Hyundai, Daewoo, and LG can still hold on?
By December, South Korea could no longer hold on and could only ask the IMF for help first, completely opening up South Korea's financial door.
This caused Japan, which has a large number of industries in South Korea, to suffer greatly, and banks went bankrupt one after another.
After all, Japan has not had an easy life since the Plaza Accord. After the bubble burst, the Japanese economy was even worse, and now it has suffered such a heavy blow.
By now, it can no longer be called the Southeast Asian financial crisis, but should be called the Asian financial crisis!
Looking back at 1997, the impact of the Asian financial crisis was undoubtedly huge. It is obvious that this year will write a grand chapter in history.
Looking forward to 1998, the Asian financial crisis is still continuing, and international hot money has not given up its eye on Hong Kong.
In the eyes of international hot money, Hong Kong, an international financial center, is a big piece of fat meat. If you don't eat it, it will be too unwilling.
Putting down the intelligence in your hand, watching the news on Hong Kong TV, just like the newspaper reports, almost all of them are the same "tragic news", such as the bankruptcy of a certain company, the suicide of a certain employee, and the crazy depreciation of a certain country's currency. Similar news has not stopped in the past few months.
At this time, Hong Kong's real estate has fallen by 30%, and most of it has returned to the level of early 1996, which is equivalent to the peak in the first quarter of 1994. The important thing is that there is not much transaction volume in the property, which means that everyone knows that the real estate may still fall.
What's worse is that in this environment, many people will lose their jobs, and losing their jobs means losing their last hope. Many people have mortgages and car loans. If they can't pay, the bank will come to confiscate them, and then they will have nothing.
Many companies are trembling at this time and may go bankrupt at any time.
Liu Tao arranged his work and he had to leave Hong Kong.
Long before New Year's Day, the documents for the convening of the Panshan Group's year-end meeting had been issued.
This year's Spring Festival is earlier than in previous years. January 28th is the Spring Festival, and most employees of Panshan Group will have a spring break on January 27th. At that time, except for some companies and some departments, most employees will have a holiday.
For example, the various gas stations of Huaxia Petroleum Group, Panshan Hospital, Huaxia Automobile 4S Store, etc. will definitely not have a holiday, because the Spring Festival is a prosperous market.
Of course, like Hong Kong Bank, Standard Chartered Bank, etc., most employees will have a holiday, but some employees will be on duty, including ATM deposit and withdrawal machine maintenance, cash escort, emergency affairs, etc.
After arranging everything, Liu Tao went directly to the rooftop, where a 'Raydow' helicopter had already parked. The pilot saluted Liu Tao, and then waited for Liu Tao to sit down, and the helicopter started and quickly flew away from the Hong Kong Bank Building.
Sitting in the helicopter, the view is very wide.
There are tall buildings, and there are busy cars below.
In the field of vision, there are Bank of China Building and HSBC Headquarters Building, and there are buildings, each of which may be the headquarters of a bank or a large group.
Across Victoria Harbour, the Kai Tak reclamation project is still going on.
Earthwork ships are transported here and then filled.
These earthwork ships are either from the Mekong River or from the Kra Canal.
With the help of this financial crisis, Panshan Group's shares in the Kra Canal have risen to 75%.
Thailand is already in chaos, and various forces are blaming each other.
Some blame the current team for being close to Europe, the United States, and Japan, which has led to wolves entering the house and causing huge losses to Thailand. Some blamed Chinese businessmen, believing that they possessed too much wealth, which was not conducive to the economic development of Thailand.
At this time, some forces were already directing their spearheads at Chinese and overseas Chinese.
The same situation occurred in Malaysia, Indonesia, and the Philippines.
Everything was going on as Liu Tao had expected before. At this time, there was like a powder keg that could explode at any time.
The helicopter went all the way north and arrived at the Yangcheng Shipyard.
Although most of the time was in Hong Kong during this period, Liu Tao would come to the Yangcheng Shipyard for one day every three days to solve the problems encountered during the construction of the aircraft carrier.
At the same time, he also participated in the construction and secretly repaired some defects.
The Type 094 strategic nuclear submarine has also been officially launched.
However, like the Type 093 attack nuclear submarine, the Type 094 strategic nuclear submarine is highly confidential. Even if it has been launched for some time, there is still no report and the outside world knows nothing.
Both docks continue to build Type 093 attack nuclear submarines and Type 094 strategic nuclear submarines.
And one-third of the original workers and technicians were transferred to the Beibu Gulf Shipyard, and one-third were transferred to the Bohai Shipyard.
Bohai Shipyard, located in Longgang District, Huludao City, Liaoning Province, is one of the largest shipyards in China. It has always been mainly engaged in the production of submarines. Bohai Shipyard is also the birthplace of China’s first nuclear submarine, where China’s nuclear submarine assembly plant is located.
China is like this, never putting all its eggs in one basket.
It needs to be ensured that when Yangcheng Shipyard is destroyed, other shipyards can also build the same warships.
Bohai Shipyard not only builds Type 039 conventional submarines, but now it will build Type 093 attack nuclear submarines and Type 094 strategic nuclear submarines, and will also start to build civilian ships, such as large oil tankers, container ships, etc.
At present, the division of labor among several major shipyards in China is relatively clear. Yangcheng Shipyard builds large warships and large civilian ships, and Beibu Gulf Shipyard and Mawei Shipyard share the capacity transfer of Yangcheng Shipyard. Other large shipyards build some ships and warships, and the warships are mainly orders given by Yangcheng Shipyard.
Originally, warships built by Yangcheng Shipyard, Beibu Gulf Shipyard and Mawei Shipyard were mostly exported, while warships built by other domestic shipyards were for their own use. As a result, the navy rejected them as soon as they tried them. Now, warships built by other domestic shipyards are exported, while Yangcheng Shipyard, Beibu Gulf Shipyard and Mawei Shipyard, in addition to meeting the navy's own warships, also build and export.
This is equivalent to other domestic shipyards, to a large extent, being OEMs for Yangcheng Shipyard to earn some hard-earned money.
After all, these technologies belong to Panshan Group, not these shipyards, and the orders are also from Panshan Group, and these shipyards cannot export.
Panshan Group does this to restrict these shipyards from making shipbuilding at a bargain price in order to receive orders and earn foreign exchange.
China's shipbuilding industry has a high cost-effectiveness ratio, and the price can be low, but not too low. It is lower than that of Japan and South Korea's shipbuilding industries, and it is enough to maintain strong competitiveness, rather than being significantly lower than that of Japan and South Korea's shipbuilding industries.
The shipbuilding industries of Japan and South Korea are crushed, but the shipbuilding industry of our own company is not profitable, which means that foreign companies are being given a free ride.
What Panshan Group needs to do is to crush the shipbuilding industries of Japan and South Korea, and make a lot of money in its own shipbuilding industry.
Only by making money can the shipyard expand, replace equipment and instruments, recruit workers for research and development. Only by making money can the workers' wages and welfare benefits be increased.
If it is not profitable, the employees will also suffer, which is not the original intention of development.
Many factories in China have made the industry as cheap as cabbage, which is actually a free ride for Europe and the United States, and a hardship for their own employees.
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"Huayu Started Struggling in 1997"