The construction of the submarine transmission cable from Ange Island to Malaysia was already halfway through. The submarine cable in Australia had already been put into construction. The submarine transmission cable from the New Malaysia Special District to India had also entered the preparatory stage.
As Jiang Chen planned, the Global Grid Plan progressed smoothly and orderly.
However, because of the accident in Europe, Jiang Chen had to end his trip early. In the first batch of countries to join Celestial Trade's Global Grid List, South Korea was missing.
But it didn't matter. Jiang Chen couldn't travel all over the world for these submarine cables.
When other countries saw the benefits of importing electricity from Xin, they would naturally take the initiative to negotiate.
At that time, it would no longer be a buyer's market, but a seller's market.
Promoting the development of social electrification, greatly reducing the cost of industrial electricity, improving the energy structure, and reducing the burden of thermal power generation on the environment … These were all visible benefits, and Jiang Chen believed that most countries would not turn a blind eye to them.
After returning to China, the first thing Jiang Chen did was to convene a Xin Reserve shareholders' meeting and put forward a resolution that had far-reaching significance for Xin.
Without any precious metals as a guarantee, the Xin Reserve announced that it would issue a total of 1.4 trillion Xin New dollars in three batches in February based on Xin's full-year GDP data released by the Xin Bureau of Statistics and put them on the market in batches over the next year. And in the next five years, the Xin Reserve would relax the restrictions on currency issuance to meet the needs of the market.
Did the market really need it?
When Jiang Chen proposed this resolution at the shareholders' meeting, there was an uproar.
This was not just printing banknotes, it was simply opening the floodgates!
The people sitting there were all bankers and capitalists in Xin. Most of them were directly or indirectly supported by Future Group. Of course, many of them immigrated from other countries in the Commonwealth. After all, this island was once a British colony.
When they heard Jiang Chen's resolution, someone immediately stood up and raised objections.
"This is too reckless! Xin's economy has finally stabilized. Now printing banknotes on such a large scale will undoubtedly cause large-scale devaluation! "
"This is not printing banknotes, it's bubbles!"
"What's the use of printing so many banknotes? I don't see any benefits except to induce inflation! "
"I don't have an opinion on printing banknotes, but the number 14,000 is simply whimsical! The total amount of currency we currently issue is only 17,000 Xin New dollars, and the currency in circulation is less than 50 million Xin New dollars — "
"Messing around?" Standing in the venue of the Xin Reserve shareholders' meeting, Jiang Chen looked around at the shareholders of the Xin Reserve. "Everyone, our currency in circulation is close to one-third of the total currency. What does this mean? This means that we have the strength to do so. "
"Bubbles? I would like to ask everyone, how much of our GDP is a bubble? Among the many businesses of Future Group, which one of them is through real estate or financial speculation to become the world's top 500 companies? "
"I would like to ask everyone, out of the 90% of GDP that I contributed, how much of it was a bubble?"
Such a domineering statement made all the Xin Reserve shareholders present speechless.
Just as Jiang Chen said, 90% of Xin's GDP was directly related to Future Group and Celestial Trade, and the remaining 10% was indirectly related to the man in front of him.
Since four years ago, the people on the Pannu nine islands were still fishing and counting bananas. More than four years later, not only did they build the world's longest undersea tunnel, but they even built an elevator to the geosynchronous orbit and established a colony on the distant moon.
It could be said that everything that happened to Xin today was because of the man in front of them.
"This is one Xin New Dollar, the currency of our country." Jiang Chen took out a coin from his pocket, shook it in front of everyone, and slammed it on the table. "In up to five years, it will become the currency of the entire world."
"Let's start voting." Jiang Chen glanced at all the Xin Reserve shareholders present. "Let me see your courage and ambition."
The shareholders of the Xin Reserve looked at each other and exchanged opinions in whispers.
Jiang Chen sat back in his seat and quietly watched everything.
About ten minutes later, the results came out.
Looking at the numbers on the big screen, a smile appeared on Jiang Chen's face.
Except for five abstentions and two votes against, almost everyone voted in favor.
The continuous miracles created by Future Group made the shareholders of the Xin Reserve almost subconsciously make their own choices.
There was no need to doubt it, right?
…
The large-scale issuance of banknotes did have a certain impact on the exchange rate of the Xin New Dollar, but because the newly issued currency was not immediately released to the market, the impact was quite limited. After all, the printed banknotes could not be used immediately. They mainly had to enter the market in the form of loans.
However, even so, the banknotes had already been printed, and the news was announced.
In everyone's view, the passive depreciation of the Xin New Dollar seemed to be inevitable.
The International Monetary Fund downgraded the credit rating of the Xin New Dollar, and the central banks of various countries also made certain adjustments to the exchange rate between the Xin New Dollar and their own currencies, causing the exchange rate of the Xin New Dollar to fall significantly in a short period of time.
After the Xin New Dollar depreciated for a period of time, Jiang Chen began to gradually exchange all the foreign exchange held by Future Group and Celestial Trade into Xin New Dollar through the channels of Future Bank. This included the profits of the major subsidiaries in various countries around the world, as well as the contracts signed on the Outer Space Resources Development Forum.
Even the foreign exchange that did not arrive was sold to the Xin Reserve in the form of "loans".
Of course, this move could not be hidden from the eyes of other shareholders of the Xin Reserve, but no one raised any objections. After all, the decline of the Xin New Dollar had been confirmed. At this time, it was undoubtedly a high-risk thing to exchange foreign exchange for Xin New Dollar in the short term.
Moreover, at the time when the exchange rate of the Xin New Dollar was falling rapidly, the Xin Reserve also needed a large number of foreign exchange reserves to stabilize the value of its own currency.
Buying when the exchange rate fell also meant that Jiang Chen could use a small amount of foreign exchange to exchange for a large number of pieces of paper called Xin New Dollar from the Xin Reserve.
At this moment, central banks around the world were watching the show, watching how the Xin Reserve would play itself to death, print a bunch of useless pieces of paper, and destroy its own economy. He also estimated when Xin's companies would go bankrupt because they couldn't afford the raw materials at the port, and then buy up these endangered companies.
Just when everyone thought that he had gone mad, a voice suddenly rang out.
Celestial Trade suddenly published a resolution on its official website.
[According to the regulations on the development of space resources promulgated by Xin, in order to facilitate market management and taxation, Celestial Trade held an internal meeting and decided that the signed contracts will not be affected. From today on, including space elevator freight, import and export settlement, and other businesses, foreign currencies will be terminated, and the Xin New Dollar will be the only currency for space resource transactions …]
You've already exceeded your reading limit for today. If you want to read more, please log in.
Login
Select text and click 'Report' to let us know about any bad translation.
