Chapter 1167 Christmas Battle (2 Chapters in 1)
The situation of the Hong Kong stock market and futures market is very good, each company is also developing in an orderly manner, and the return of funds from the Galaxy Fund is also very smooth, which makes Xia Yu in a good mood for a period of time.
However, someone happened to affect his good mood at this time!
December 15th morning.
Xia Yu had just returned from an inspection of the factory of Tiangong Automobile Group in Yuen Long Science and Technology Industrial Park, but Wang Qi ran over and reported a news to him.
In order to create a stable investment environment as much as possible and optimize the inflation problem in Hong Kong, the Financial Secretary of the Hong Kong Government is preparing to reform the exchange rate system in Hong Kong. Change back to a fixed exchange rate system, pegged to the British pound!
"It's mainly the British who agree with this opinion?"
Xia Yu asked Wang Qi with a cold face.
Wang Qi nodded and said, "Yes!"
"These people are too selfish. Now the UK has fallen behind a long time ago. The exchange rate of the British pound fluctuates greatly. If the Hong Kong dollar is pegged to the British pound, the good situation we have just emerged will be completely destroyed."
"Even if it is pegged, it is pegged to the dollar, where is the turn to get the pound!"
"These people should get out of here!"
"You make a list, and I will let people show their black materials, clear them all out, and replace them with 'better' Chinese."
Xia Yu said with a cold snort.
Wang Qi understood in seconds, and nodded with a smile: "Okay, Chairman, I will ask Zhou Shanwen to make a list tomorrow at the latest."
"Um!"
Xia Yu nodded slightly and his expression softened slightly.
At this time, Wang Qi pondered for a moment and said: "Chairman, in fact, there is indeed a big problem with Xiangjiang's floating exchange rate system. Although the banking industry, the stock market and the futures market are all booming, the current exchange rate system is very difficult. big danger."
"Two years ago, the U.S. dollar was still around 4.6 Hong Kong dollars against the Hong Kong dollar."
"However, the Hong Kong dollar has been depreciating in the past two years, and this year it once depreciated to US$7.2 per US dollar."
"Fortunately, the release of the Sino-British Joint Declaration has given Hong Kong's economy a boost. Coupled with the vigorous development of the stock market and futures market in recent months, it has boosted the re-appreciation of the Hong Kong dollar."
"But now the exchange rate fluctuates around 1 US dollar to 6.2 Hong Kong dollars. Compared with a few years ago, the depreciation is relatively large."
"However, during this period of time, the large-scale inflow of foreign capital into Hong Kong has also led to the appreciation of the Hong Kong dollar, which will have a great impact on Hong Kong's export economy, real economy and employment. It is also not conducive to foreign investment in Hong Kong, which has a serious impact. The economic foundation of Hong Kong.”
Xia Yu showed admiration, nodded and said, "You're right, there is indeed a big problem with Xiangjiang's exchange rate system, and it's time to plug this loophole!"
Wang Qi's eyes lit up, and he looked at Xia Yu with anticipation, and said, "Chairman, Zhou Shanwen told me that there are three main views within the Financial Secretary. ."
"The second voice is to maintain a floating exchange rate and maintain an independent monetary policy, but to increase foreign exchange reserves,
Expand the Monetary Authority and improve the Hong Kong government's ability to control the exchange rate. "
"The third voice is also to change to a fixed linked exchange rate, but it is only pegged to the US dollar. Zhou Shanwen holds this view."
"Chairman, which exchange rate system do you think is more suitable for the current Xiangjiang?"
Xia Yu's eyes were a little lost, and the exchange rate system of Xiangjiang in the previous life appeared in his mind, and the pros and cons flashed in his mind one by one.
In this world, there are two exchange rate systems, one is a floating exchange rate system and the other is a fixed exchange rate system.
The mainland is now a fixed exchange rate system, and it was not until 2005 that it was changed to a floating exchange rate system.
Different exchange rate regimes behave differently in the face of the impact of international capital flows on the domestic economy, and have different advantages and disadvantages.
Generally speaking, when a floating exchange rate is chosen, the cross-border flow of capital is mainly controlled by market forces.
Implementing a floating exchange rate system has many advantages. For example, a floating exchange rate system can ensure the independence of monetary policy; a floating exchange rate can help mitigate external shocks; government intervention is reduced, and the exchange rate will be determined by the market, which is more transparent; the government does not need to Maintain huge foreign exchange reserves.
But the disadvantage is also obvious, that is, under the floating exchange rate system, the exchange rate tends to fluctuate greatly and excessively, which may be unfavorable for trade and investment; and because the exchange rate is freely floating, people may conduct speculative activities, resulting in unstable currency exchange rates; most importantly What's more, the floating exchange rate system puts forward higher requirements for a country's macroeconomic management ability and financial market development.
In the past life, the mainland, a land rich in resources and talents, had experienced many setbacks before becoming mature in its ability to manage the RMB exchange rate, but it also faced challenges from time to time.
Where can the Xiangjiang region with small land and few people be compared with a big country?
In the past seven or eight years of the implementation of the floating exchange rate system, we can see how capable the Hong Kong government is in this regard, and the tuition fees paid have already been quite large.
The choice of a fixed exchange rate requires the government to control the cross-border flow of capital, which is conducive to the stable development of the economy.
Because under the fixed exchange rate system, the exchange rate is relatively stable, and the fluctuation range of the exchange rate is maintained either spontaneously or artificially, which enables the price determination of imported and exported goods, the calculation and control of international trade costs, and the repayment of international claims and debts. It is carried out in a relatively stable manner, which reduces the risks caused by exchange rate fluctuations.
Moreover, the fixed exchange rate is conducive to the accounting of costs and profits for economic entities in international trade, international credit and international investment, avoids the risk of exchange rate fluctuations, and plays a certain role in promoting the development of the world economy.
However, the fixed exchange rate also has great drawbacks. For example, the most obvious one is that it loses the independence of monetary policy and the "leverage" role of the country in adjusting the economy. It is easy to transmit inflation internationally, thereby causing economic problems.
The advantages and disadvantages of the two exchange rate regimes are obvious, and they have long been figured out by elites from all over the world.
The "triple paradox" theory proposed by American economist Paul Krugman believes that the three goals of monetary policy independence, exchange rate stability and free capital flow cannot be achieved at the same time, but only two can be achieved at the same time.
In fact, countries can only choose two goals that are beneficial to them.
Combine the path that Xiangjiang took in the previous life and the current situation of Xiangjiang.
Xia Yu felt that in the next 20 years, the most suitable exchange rate system for Xiangjiang is the linked exchange rate system, which is pegged to the US dollar. This linked exchange rate system is essentially a fixed exchange rate system.
However, once the linked exchange rate system is activated, then Hong Kong must have huge foreign exchange reserves in US dollars.
Because when more people want to exchange Hong Kong dollars for U.S. dollars, if there is not sufficient U.S. dollar foreign exchange reserves to supply, then foreign exchange will appear to be in short supply, the Hong Kong dollar will depreciate, and the linked exchange rate system will collapse.
Of course, as long as the foreign exchange reserves are sufficient, we are not afraid of attacks by international speculators.
During the financial crisis in 1997 in the previous life, Xiangjiang itself had huge foreign exchange reserves, and with the full support of the mainland, international speculators such as Soros, who were invincible in Southeast Asia, were defeated by Xiangjiang.
The completely different situation of Hong Kong and other countries in Southeast Asia also fully reflects the important role of the linked exchange rate system to Hong Kong.
As for what to do after Xiangjiang's return, and whether the exchange rate system should be replaced, he doesn't need to worry about it.
Because at that time, with the support of the mainland's talent system and financial system, Xiangjiang was fully qualified to resist all kinds of storms and implement the linked exchange rate system. He only needed to sit back and enjoy its achievements.
Now, he is obviously a businessman, but he has to worry about the present and future of the entire Xiangjiang from a political point of view.
Work hard!
But he paid so much, and he deserved the benefits as hard work...
Xia Yu shook his head slightly, looked at Wang Qi again, and instructed: "Xiangjiang is most suitable for the linked exchange rate system, which is pegged to the US dollar. Now that the exchange rate is one US dollar to 6.2 Hong Kong dollars, it can be set at this benchmark."
"As for the details, I also have some ideas."
"But you have enough things, and you don't need to follow up on these things."
"Zhou Shanwen is the deputy director of the Financial Services Administration of the Financial Secretary. You ask him to come to me as soon as possible, and I will have a good chat with him."
"Okay!" Wang Qi replied obediently.
...
Zhou Shanwen didn't dare to neglect the call of the big boss behind the scenes, so he specially asked for leave to come to Xia Yu the next morning to report.
That morning, Xia Yu inquired in detail about the internal situation of the Financial Secretary and the Monetary Authority, and then chatted with him about the linked exchange rate system, which made Zhou Shanwen's thinking very clear.
At the end, Xia Yu also told Zhou Shanwen to prepare him to be the director of the Monetary Authority for a while, which made Zhou Shanwen very happy and thanked Xia Yu for his cultivation.
After Zhou Shanwen left, Xia Yu ordered Luo Wang to start action.
He focused his energy on sorting out his assets and making development plans for next year.
...
The Christmas holiday in European and American countries is equivalent to the winter vacation. The holiday is generally from December 22 to January 5, with a two-week period.
As time approaches Christmas in the West.
Companies from all walks of life have also embarked on massive advertising and marketing campaigns in an attempt to generate enough revenue for the biggest holiday of the year.
In the video game industry, the marketing wars are already in full swing.
However, Tiangong Electronics Group and Atari Corporation have the most investment, the largest marketing efforts, and the most widely known.
Just in the United States, Huo Jianning invested tens of millions of dollars in advertising and marketing, and Huo Jianning found Peter Lynch in advance, so the funds of 10 million dollars were completely spent 20 million dollars.
This puts Atari and its parent company, Warner Bros. Entertainment, under enormous pressure to spend more money on marketing.
No way, for this Christmas battle, Atari has produced 10 million new Atari 2600 game consoles and 5 million copies of the "E·T Alien" game cassette. Of course, there are still There are seven million unsold Pac-Man game cartridges.
Combined with other game cartridges, Atari has 15 million game cartridges ready to market.
This Christmas, Atari and Warner Bros. Entertainment are poised to make big bucks.
The explosive game "E·T Alien" is not only to make money, but also to promote the sales of Atari 2600 game consoles.
After all, the explosive game "E·T Alien" can only be run on the Atari 2600 game console!
Atari also has enough confidence in the market prospects, because the dealers have already taken away 4 million copies of "E·T Alien" game cassettes and more than 2 million Atari 2600 game consoles in advance .
There are only one million copies of "E·T Alien" game cassettes in Atari's warehouse now, and the cassette production plant is also on standby. As long as the sales frenzy breaks out, they can continue production as soon as possible. Game cartridges to ensure sufficient market supply.
Therefore, when everything is ready, it must not be robbed of the limelight by the biggest competitor, Tiangong Electronics Group, at the most critical period.
On December 22, the Christmas holiday in the United States officially begins.
That is, on this day, Atari Corporation and Tiangong Electronics Group held a press conference in New York at the same time, and the location of the press conference was not far from the same place.
Atari is still launching the Atari 2600 game console, as well as the ace "E·T Alien" game cartridge and the "Space Invaders" game cartridge with newly designed levels.
Tiangong Electronics Group, on the other hand, launched the second-generation home game console TG--MasterSystem2, and five games headed by the game "Red Dead Redemption" adapted from Clint Eastwood's "Red Dead Trilogy" New game cassettes, and of course the redesigned game levels of "Super Mario", "China Cube", "Tank Wars" and other game cassettes that have been selling well all over the world.
As far as the lineup is concerned, although Atari has a lot of cassettes, there are a lot of shoddy and bad products. The card "Pac-Man" has been smashed, and the only ones that can win are "E·T Alien" and "E.T." "Space Invaders".
After the press conference, dealers all over the United States have already started to sell.
On this day, I don't know how many children smashed the piggy bank and rushed to the nearest game retail store with the money they had saved so hard to buy game consoles and game cartridges.
...
Fourteen-year-old Jack is a game fan. His enlightenment game is Space Invaders. He has long known through TV commercials and promotional posters that today is the day when many game companies release new games.
Although he was disappointed by the many junk games that Atari launched this year, it just so happened that his whole family liked E.T, the cute big-headed alien.
The product of the combination of the two, the "E·T Alien" game, has already made him look forward to it for a long time.
After he came to the game retail store from a wealthy family, he bought the "E·T Alien" game cartridge without hesitation. As for the Atari 2600 console, he already had it and didn't buy it again.
However, he was also captured by the high-quality games of Tiangong Electronics Group, and he also bought TG--MasterSystem2 game console, as well as ten game cassettes such as "Red Dead Redemption" and "Super Mario".
After that, he hurried home and asked his younger brother to play games together.
The first to play, of course, is the most anticipated "E·T Alien" game.
Just under five minutes...
"Damn, Atari has developed another rubbish game, this damn giant pit, can't get up after falling, it's meaningless..."
"I'm like a clown, being mocked by Atari..."
"The cute and kind E·T has been developed into such a garbage game. This is deceiving our feelings. I want to return it!"
The angry Jack directly threw the Atari 2600 game console aside, and then, under the comfort of his younger brother, disassembled the TG--MasterSystem2 game console and the latest game "Red Dead Redemption".
Another five minutes later...
Set in the American West in 1849, this vertical-scrolling shooter starring bounty hunter Billy Bob completely captures the Jack brothers.
The two games go head to head!
Jack is completely disappointed with Atari.
The next afternoon, after playing all the games of Tiangong Electronics Group, he lamented the classic games, and saw the Atari 2600 game console and "E·T Alien" that he had left aside. The game cartridge, he was suddenly angry, but he was not angry, he put the game cartridge back into the packaging box, and rushed to the game retail store to request a return.
There, he found that there were many people who came to return the goods just like him.
And the thing that asked to return is the same, it is the "E·T Alien" game cassette...
PS: The two chapters have been combined into one, so I didn’t divide it into two chapters. I just went to the hospital this afternoon and spent more than 900 yuan. My body and mind are in pain. Why don’t you vote for comfort? (*^▽^*)
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