Chapter 259 The Thai Financial Crisis Breaks Out

With the arrival of 1997, New World has begun to wrap up some of the last black industries.

According to Li Qing's instructions, the black industry gradually moved to the north of the Gulf and Southeast Asia.

Completely separate white products from gray products. If this point is not clear, there is no guarantee that they will not be purged.

As for the younger brothers, they basically can’t get away with it, so we simply let them choose, including Japan, South Korea, Taiwan, and Southeast Asia.

But what Li Qing didn't expect was that almost half of his brothers chose Southeast Asia. After all, it was relatively close to Xiangjiang and only took a few hours by boat.

Various departments in New World are carrying out industry split in an orderly manner.

On a sunny morning, Fang Ting came to Li Qing's office with a piece of information.

"Brother Qing!"

"Xiaoting, what's wrong?"

Li Qing was also a little puzzled when he saw Fang Ting, calculating the time until tomorrow night.

"There's something wrong with finance." Fang Ting's face was a little solemn.

Li Qing also sat up straight and looked serious.

“Mainly on the Thai side, there are some problems with gang lending in Thailand.

I have compiled statistics for the past six months and found that many gangs such as the Thai M Club, the Black Horse Gang, and the Natchai Gang have disbanded one after another, resulting in bad debts of more than 2 million US dollars.

In addition, several big gangs such as Bangkok Gang and Mai Gang also owe several months of repayment..."

Fang Ting took the information and came to Li Qing to explain to him one by one.

This situation is very abnormal. One or two may be a problem of capital turnover. Now even the Bangkok Gang has no money to pay back. The problem here is huge.

You must know that the Bangkok Gang is the largest force in Thailand and has a good relationship with the New World. Logically speaking, this should not be the case.

Li Qing looked at the data on the document and frowned. He couldn't remember exactly when the financial crisis broke out in Thailand, but it should have been in early 1997.

‘Is it the financial crisis in Thailand? ’

You must know that the Asian financial and economic crisis started in Thailand.

"Let Fang Zhanbo come for a visit!" Li Qing said solemnly. He wanted to know what the recent fluctuations in international finance were.

Fang Zhanbo received the news and hurried to the headquarters.

"Brother, are you looking for me?"

"Zhanbo, what are the recent trends in Thailand's finance? There are more bad debts in Thai gangs now."

Fang Zhanbo was stunned, lowered his head and thought deeply for a while.

“Thailand’s real estate sector has been inflated recently, and there should be a large influx of foreign capital from Thailand into the stock market.

And I heard that several international investment capitals had made moves in Thailand some time ago, but they were resolved by the Thai government. "

Li Qing's eyes flashed, that's right. This time the Thai government resolved the situation, but it may not happen next time.

"Fang Ting and Zhanbo quickly withdraw funds from underground banks, and except for a few well-connected and powerful associations, all others are restricted from borrowing."

Li Qing said with burning eyes.

He wants to withdraw all the funds before the Quantum Fund causes trouble, and then waits for a big windfall after the financial crisis.

Li Qing already has a clear goal, which is industry, especially the electronics industry (Taipower, Shunyang Electronics, etc.) and the automobile industry.

This is the next stage of development.

"Withdrawal of funds? Brother Qing, except for Thailand, other regions are developing very well. At this time, funds will be withdrawn..."

Fang Ting didn't finish her words.

"Okay! We will withdraw the funds immediately." Fang Zhanbo interrupted Fang Ting.

"Brother, actually I also feel that the financial market is unstable recently, especially in Thailand."

In fact, last year, Fang Zhanbo accidentally saw the prediction of Morris Goldstein, an economist at the International Monetary Fund: In Southeast Asian countries, the currencies of various countries are experiencing impacts from all directions, and a financial crisis may break out.

Thailand, in particular, has more risk factors and is more vulnerable to the impact of international hot money and financial turmoil.

But his prediction did not attract people's attention. However, Fang Zhanbo was very interested after hearing it, carefully studied Thailand's economy, and even more agreed with Morris' prediction.

Li Qing glanced at Fang Zhanbo in surprise. He was indeed the son of luck who killed Ding Xie. He was able to seek advantages and avoid disadvantages through subtle changes in the stock market.

"Do you think we can make some money from the financial crisis in Thailand?" Li Qing asked curiously.

Fang Zhanbo glanced at Li Qing and shook his head.

"International capital is not allowed. Their operation seems to be very simple. They use leverage to short-sell, causing the currency of other countries to depreciate, and then purchase high-quality resources at low prices.

The important thing here is international hot money! New World Assets cannot compete with them now. "

Li Qing smiled and waved his hand, "Confront? No, why should we compete? We want to cut off the beard!"

Fang Zhanbo opened his mouth wide in surprise, cut off his beard? Isn't that what it is?

Li Qing lit a cigarette, "We have our advantages, what are we?"

Fang Zhanbo was shocked, what are we?

"We are gangsters!" Fang Ting blurted out quickly as she thought quickly.

Yes, we are gangsters. As long as we use Thai gangsters to get the high-quality assets they value before Soros bargains, no one can do anything to them.

This is the advantage of gangsters, they never have to care about the law, because their existence is illegal!

This is not difficult for gangsters.

"Okay, you go make arrangements first."

Although Fang Ting still didn't fully understand Li Qing's decision, she followed his words unconditionally.

As he walked out of the door, Fang Zhanbo shook his head. The financial crisis in Thailand that Big Brother Li Qing mentioned should... not happen, right?

After all, the Thai government has a lot of reserves, at least much better than the Philippines, so it shouldn't repeat the same mistakes.

In a blink of an eye, Thailand's financial and economic situation has become worse and worse, especially with the participation of Quantum Fund, the leader of international hedge funds.

The entire Thai financial situation has become increasingly severe, and an invisible confrontation is unfolding.

In February, international investment institutions borrowed up to $15 billion from the Bank of Thailand and sold them on a large scale in the spot market, causing a sharp change in the Thai baht exchange rate and triggering financial market turmoil.

In March, the Central Bank of Thailand required banks and other financial institutions to increase the ratio of bad debt reserves.

In May, Quantum Fund took action again. The Central Bank of Thailand banned the lending of Thai currency and significantly increased the overnight repo rate, causing Quantum Fund to lose $300 million.

In June, Quantum Fund took action three times, and Thailand's foreign exchange reserves fell by $30 billion, leaving only $2.8 billion in foreign exchange reserves, and it has lost the ability to continue to intervene in the foreign exchange market.

The Thai government announced that it would abandon the exchange rate system of the Thai baht pegged to the US dollar, which had been maintained for 14 years, and implement a managed floating exchange rate system.

The Southeast Asian financial and economic crisis officially broke out.

At this time, the New World had already prepared sufficient US dollars to harvest a wave of high-quality industrial resources.