During the meal, Qin Wan 'er told everyone what had happened, including how important the matter she was investigating was.
Zuo Meiyan agreed with this. She knew that capital outflow was a huge threat. It was a disaster for Hua Xia.
"Under the pressure of Hua Xia's currency devaluation, capital outflow has become our main concern for Hua Xia's economy." Zuo Meiyan frowned. "I think that people like this should be severely punished. It wouldn't be too much to just kill them."
Ruan Qingshuang didn't know much about economics. "Didn't the central bank lead the devaluation of the RMB last time? It also shocked the global market. "
"Hua Xia did this mainly to get ahead of the Federal Reserve's interest rate hike, right?" Manyu didn't know much about economics either. That's what most people think. "
Zuo Meiyan was probably the most knowledgeable about economics.
She even knew more than Xu Yun.
After all, ever since Zuo Meiyan took over Sky Entertainment Group, she had to pay attention to the domestic and global economy.
If a businessman didn't know about economic changes, they would definitely lose money.
"Because Hua Xia's currency has been devaluing for months, if the central bank waits for the Federal Reserve to raise interest rates before releasing the exchange rate, then the situation will be even more difficult to control. The RMB may depreciate disorderly, and it may fall by more than 13%. The pressure of capital outflow will be even greater. "Zuo Meiyan said calmly.
Xu Yun also frowned. "Do investors in Hua Xia see capital outflow as the biggest threat to Hua Xia's economy?"
Zuo Meiyan nodded. "That's right. From the rate of decline of the central bank's reserves, we can see that capital outflow in Hua Xia has been very fast. If Hua Xia's economy continues to slow down, then capital outflow will accelerate. "
Of course, these were all visible cases of capital outflow.
It was common for rich people to invest their money overseas.
Zuo Meiyan paused for a moment, then continued, "In their eyes, capital outflow is a sign that people's confidence in Hua Xia is weakening. Capital outflow will take away liquidity from the domestic economy, making it harder for companies and local governments to raise funds."
Zuo Meiyan had already said this very clearly, so everyone could understand.
The visible outflow of capital.
Also, how much of Hua Xia's money had gone abroad?
This number was simply unimaginable to ordinary people. It was a huge number!
"Moreover, with the Federal Reserve raising interest rates and Hua Xia's stock market falling sharply, the trend of capital flows is becoming more and more important. The interest rate hike in the US has sucked in funds from Hua Xia and other emerging markets, which has obviously put more downward pressure on Hua Xia's share price. " Zuo Meiyan said, "Why have the people who speculated in the stock market been losing so much in the past two years … It's all because they don't understand economics."
Xu Yun nodded. Zuo Meiyan agreed. Many people thought that they could make money by speculating in the stock market, but they never paid attention to the news of the Federal Reserve raising interest rates.
A truly smart person who understood the world economy would not stumble in the stock market.
Those who had news of the Federal Reserve's interest rate hike had all taken out their money as soon as they heard that there was no sign of it happening.
And at this time, the people who would suffer losses were always ordinary people.
Things like the stock market were people with "news". Before they realized that there was a change in the situation, they would inflate the price and take the money of ordinary people who did not understand economics but still wanted to make money. Then, they would directly take it away.
When the stock price plummeted and the ordinary people wanted to cry but had no tears, those people's wallets were full of money and they ran away with it.
Hua Xia was now in a dilemma.
If they used currency depreciation to stimulate exports, it would encourage capital flight and force the central bank to use external reserves to slow down the tide of capital outflows.
However, efforts to support the yuan would hit exports, which could lead to large-scale layoffs in various industries with weak profits and the expansion of the intricate shadow banking system.
No one knew how many times the collateral in the warehouse had been mortgaged, or how much debt there was in the shadow banking system …
"Things are very complicated now. I don't think the market's focus is only on the Federal Reserve. This is just one of the things to worry about. " Zuo Meiyan sighed. "In addition to the capital outflows that we can see, these bastards who rely on underground money houses to transfer capital out and launder dirty money are even more abominable. They have made the entire Hua Xia's economy even more chaotic. It is not wrong to say that they are a disaster to the country and the people."
"The Federal Reserve's interest rate hike does have an impact on Hua Xia's economy, but the downward pressure on Hua Xia's economy mainly comes from domestic factors." Xu Yun frowned. "Overproduction, high real estate inventories, declining export competitiveness … These are all our country's own responsibilities that cannot be shirked."
"After hearing what you guys said, why do I feel like there is a lot of crisis now, especially dangerous?" Man Yu's eyes widened. She had never thought it would be so dangerous.
After hearing what everyone said, she felt a sense of crisis.
Perhaps only Chou Yeon felt the least pressure about this kind of thing because she did not care, did not understand, and had no interest in this area.
Therefore, she did not understand what others were saying. Even if she heard it, she would not take it to heart, nor would she think about it.
"In this dilemma, our country will allow the RMB to depreciate in an orderly manner, and at the same time set more restrictions on capital outflows, slowing down the opening of residents' capital accounts." Zuo Meiyan said calmly, "Hua Xia will use a large amount of foreign exchange reserves to ensure that the RMB exchange rate remains stable."
"This will definitely consume a lot of money, right?" Ruan Qingshuang opened her mouth slightly.
"Yes." Zuo Meiyan nodded. "Under the condition that it does not seriously affect Hua Xia's external exposure, it should be able to consume 900 billion USD for foreign exchange intervention."
900 billion USD!
My god … Ruan Qingshuang did not even dare to think about how huge this sum of money was.
"This is really quite a serious injury." Xu Yun could not help but smile bitterly. "Although Hua Xia's foreign exchange reserves are large, at least 25% of them have been consumed, right?"
Zuo Meiyan nodded and furrowed her brows, "Yes, it is indeed a very serious matter."
"This is too scary …" Qin Wan 'er realized that her task was becoming more and more important because she knew that what Zuo Meiyan and the others were talking about was just some of the capital outflows from the official channels.
What Qin Wan 'er wanted to investigate was the underground money houses and the illegal channels through which the money was being laundered out of Hua Xia.
If these illegal outflows were added together, wouldn't it be an even more terrifying number?
Illegal money laundering and underground money houses caused a huge amount of capital to flow out, seriously endangering the financial security. They had to dig deeper into the upstream crimes! Whether it was financial securities or corruption, they had to severely crack down on major crimes in these areas!
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