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Text Chapter 246: Early Warning of Financial Crisis

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    As there were police cars clearing the way, the car quickly arrived at a community for the families of the provincial party committee on the Second Ring Road in Chengdu.

    It was almost dusk at this time. Xiao Qi had not been sitting at Yu Chengsheng's house for long before the provincial party secretary returned home from get off work.

    "Haha, Mr. Qi, it's not easy to meet you." Yu Chengsheng and Xiao Qi shook hands warmly before sitting down as guest and host.

    "Uncle Yu, you are too polite. I am busy with business. Everything is ready to be done now. If I don't hurry up, I don't know when my factory will be successful." Xiao Qi said with a shy smile.

    "Tell me about your experience in the United States and Japan this time. Let's not talk about business matters, lest you accuse me of leaking your business secrets in the future." Yu Chengsheng said slowly while drinking the ginseng tea brought by his wife.

    Xiao Qi knew what he wanted to hear. He thought for a while and said: "The development of the United States and Japan, especially in high technology, is changing rapidly. I compared our domestic technical production levels, and I'm afraid the gap is not three.  We can catch up in five years.¡±

    "Well, I know." Yu Chengsheng nodded and said, "Because of this, you should be more bold and attentive to develop. Our economic aggregate has increased, but our technological content is still far from enough, especially our  An inland province like Shuchuan is even more of a deserted area. Xiao Qi, since you have the talent given by God, don't waste it. You must bravely shoulder this responsibility, whether it is for yourself or for us.  Nation, you know?¡±

    "yes."

    Feeling Yu Chengsheng's strong expectations, Xiao Qi felt happy in his heart. The provincial party committee secretary had expressed that he would support his development. The time and place were already favorable that day, which was at least a good start for success.

    "As for the economies of the United States and Japan, overall they are not optimistic." Xiao Qi continued: "Due to fierce competition in emerging markets and rising domestic labor and resource costs, their economies have entered a stage of negative growth.  . Especially in the United States, people are accustomed to swiping their cards in advance to enjoy everything they buy before paying If the economic situation is bad and their source of income is cut off, it may cause a huge shock. "

    Yu Chengsheng frowned: "Consumption by credit card? Aren't young people in our country starting to use money in this way? Isn't this good?"

    Xiao Qi said: "These are two concepts of consumption. We have so much money that we dare to use credit cards to consume in advance, while Americans dare to use credit cards to consume regardless of whether they can make money tomorrow. This is not the main thing, the most important thing  The U.S. dollar is now the world's common settlement currency. Once the U.S. economy experiences a huge shock, it will probably be a financial earthquake that affects the world. It will not only be the price of oil that will be affected."

    The last sentence is what Xiao Qi really wants to say.

    Since World War II, when the U.S. dollar was pegged to gold and other currencies were pegged to the U.S. dollar, the world shifted from the gold standard to the U.S. dollar standard. In daily transactions, the money used in transactions is U.S. dollars.

    Once the U.S. government encounters a financial crisis and the economy regresses, the easiest option for them is to implement quantitative easing of currency¡ªreferred to as "printing money."

    The result of the Federal Reserve's continuous money printing is naturally to sharply depreciate the purchasing power of the US dollar in the hands of various countries, triggering a new round of currency inflation and greatly suppressing the economies of various countries.

    This is why the future financial crisis will obviously occur in the United States, but the countries that will be most seriously harmed will be China and Japan - the US dollar foreign exchange reserves held by these two countries happen to be the first and second in the world.

    Yu Chengsheng learned a lot of financial knowledge by himself, but he still didn't understand it when he heard this. Fortunately, he had talked with Xiao Xu several times before, so he had a somewhat clear understanding: "Financial earthquake? I was chatting with your father, and he said  If there is a financial earthquake in the past two years, no matter the method or method, it will be different from the financial crisis in 1997. "

    "It's different. We didn't enter China at all that time in 1997, and it was a financial sniper war, not a financial crisis." Now that he had decided to sell favors, Xiao Qi decided to go into more detail, "My dad didn't dare  It¡¯s too serious, because our country has more than 150 million U.S. dollars in foreign exchange reserves. Even if the U.S. dollar depreciates by 10% because of this, it will be a disaster for us.¡±

    After calculating how much 10% of 150 million was, Yu Chengsheng's face became serious, "Qi Shao, you and your father are good at everything, but you like to make beautiful articles in your belly too much. For such an important thing,  Why can't you tell me about it?"

    "Now the domestic economy is improving, and exports and imports have hit new highs. When we say this, aren't we afraid of being attacked and saying that we can't see the country developing well?" Xiao Qi smiled bitterly.??: "In addition, although the financial crisis in Europe and the United States is coming soon, hasn't it not happened yet? Many people's mentality is that as long as it hasn't happened yet, we can take the opportunity to make more money to resist risks."

    "Nonsense!"

    Yu Chengsheng waved his hand, "Go back and tell your father that it is very irresponsible to only write articles about oil prices. I will give him a week to write down speculations and predictions about the financial crisis in Europe and the United States, otherwise he will stop working.  Let¡¯s go home and do business with you.¡±

    Although Yu Chengsheng said it so harshly, in fact he just wanted to squeeze more of the abilities of the two father and son.

    The two of them didn¡¯t talk for long before the nanny at Yu Chengsheng¡¯s house cooked the dinner, and Yu Chengsheng and his wife started eating at the table together with Xiao Qi.

    Yu Chengsheng has only one daughter. She graduated from a graduate school in the United States. Now she and her husband work as teachers in an Ivy League university with good salary and benefits.

    For a girl, this is enough, and Yu Chengsheng is also happy that his daughter and son-in-law do not have to struggle in the domestic network of human relations and can live a relaxed life.

    Because his daughter is away, Yu Chengsheng lives with his wife on weekdays. Since he is too busy with work, he doesn't feel too lonely.

    But this doesn¡¯t mean that they don¡¯t like guests at home. As long as they come without any purpose, the couple actually welcomes them. For example, Xiao Qi is the guest they welcome.

    After the reincarnation, the young man developed a eloquent mouth and casually told them some interesting stories at home and abroad. The provincial party committee secretary and secretary listened with gusto and even participated in discussions from time to time.  (To be continued. Please search Piaotian Literature, the novels will be better and updated faster!)
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