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Urban legend life
Author: Xia Xia fanatics.
Work-related
Update time 2011-3-310:17: 58 words: 60 15.
1997 1 10 In October, international speculators led by george soros began to attack the coveted financial market in Southeast Asia, selling Thai baht and buying US dollars. The Thai baht plummeted. Its purpose is clear: to disrupt the financial market in Southeast Asia, so as to fish in troubled waters and make a fortune. The chaotic and out-of-control management of real estate, foreign exchange reserves and financial markets in some Southeast Asian countries provides speculators with a golden opportunity. Soros's wishful thinking is to start with Thailand, Indonesia and Malaysia, which are the most vulnerable countries, then disrupt the "Four Little Dragons" in Asia, such as Singapore, South Korea and Taiwan Province Province of China, and finally capture Hong Kong, in an attempt to impress them with invulnerability, crush market confidence and arouse the mentality of "herding sheep". Soros believes that as long as one country's financial market is crushed, other countries will inevitably fall one after another, which is the so-called' domino effect'.
In May, international currency speculators began to sell Thai baht on a large scale, and the exchange rate against the US dollar fell sharply. Faced with the aggressive attack of speculators, the Bank of Thailand and the Bank of Singapore joined hands to enter the market, taking a three-pronged approach in an attempt to defend the position of the Thai baht. They spent $654.38+0.2 billion to absorb Thai baht. Prohibit local banks from lending Thai baht to offshore speculators; The interest rate was greatly raised, and after some hand-to-hand combat, the status of the Thai baht was temporarily preserved.
19971On October 23rd, when the interest rate was raised to 280%, the Hong Kong stock market plummeted and the market value of $40 billion was wiped out. After 1997, the Hang Seng Index dropped from 16000 to 6500, a decrease of about 60%. It was such a fierce battle that it was a complete failure.
Property prices in Hong Kong have been falling since the peak of 1997, and almost fell by 65% in 2003. The wealth of Hong Kong people evaporated by 22,000 pounds. ...
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