Soros thinks that Thai baht is overvalued, so he first borrows a lot of Thai baht in the Thai market and then throws it out in large quantities. If the supply of Thai baht is too high, the exchange rate will face downward pressure. In order to maintain the stability of the exchange rate, the Thai government began to use its foreign exchange reserves to throw dollars to buy Thai baht (that is, to exchange its foreign exchange reserves for Thai baht in Soros's hands, which Soros borrowed from himself). Under the strong selling, the foreign exchange reserves were quickly exhausted. The Thai government abandoned the fixed exchange rate and implemented a floating exchange rate, and the Thai baht depreciated sharply. At this time, Soros can repay the Thai baht borrowed before with a few dollars and earn the dollars thrown by the Thai government to maintain the exchange rate.
At the same time, the general currency depreciation will bring economic instability, the stock market will fall, and it can also sell stocks and stock indexes for profit. ...
Also affected are China, Hongkong, South Korea, India, Russia and other countries! Our country is not affected much!
So a key issue is: our country's foreign exchange reserves are surprisingly high, and Soros's similar plot can't be realized in our country! Our country has enough strength to deal with the sniper of the international consortium!
I think the plunge in China in 2008 was mainly due to the profit-taking in 2008 caused by the big bull market in 2067 and the non-lifting of the ban. Foreign countries have little influence on China stock market!
The financial crisis in 2008 re-baptized the market! This is positive. It's time to be eliminated. The 2008 financial crisis made the Chinese soul go to the world. Do you feel it? China people know the world, and let us in China know that Americans are not brilliant in the financial field! China people can't be worse than them. The assets of the United States have fallen sharply in the financial crisis, but the assets of Chinese communities in China still rank first in the world. Why? Understandably, the people of China should see from this crisis that our nation has been strong since ancient times. Why? Because people with China ancestry are smart! The financial crisis in 2008 is not terrible, but it will be a special point in China. Look, after 2008, the number of lambs allocated to China in the world will be huge. As China people, we should also work hard! Fill your pockets!
As for negativity! I don't think there is anything negative. The negative of 08 is the negative of confidence, but it has passed now! There should be only pride, not negativity. Originally, China was very different from the world economy, but due to the financial crisis, the distance between us and the world economy has been shortened a lot! Although there is still a big difference, 2008 should be a turning point in the history of China! Let's talk about the negative and positive aspects of 08 first.
Negative! Confidence in the stock market is greatly reduced! The reason is that the bubble burst! High oil! The reason is the dictatorship of the world oil tycoons, who buy a lot of goods. In fact, the circulation of oil is sufficient, just because the part of the oil futures quarrel is at work! China's exports are hurt by the shrinking American economy! The reason is that the money-making disease and financial derivatives in the United States finally broke out! But in the end, it implicated the whole world, because the dollar is the main currency in the world! And their economy can't meet the circulation of dollars! The gold standard is too different, and the United States is overvalued! The reason is that Americans print money indiscriminately ~ the reason for printing money indiscriminately is the sick end of the forest system! If the dollar is no longer linked to gold, Americans can issue dollars without worry, because the dollar itself is worthless and they are not afraid! After that, Americans lived in debt, and their government really figured it out! The housing price bubble is rising! The price of consumer goods bought by ordinary people is too high! The reason is that the liquidity of money has shifted from manufacturing to real estate. It can be said that Chinese people have followed suit and caused these phenomena! Manufacturing is shrinking! There are two reasons. First, the international financial crisis led to a decrease in orders. Second, because of the bull market in the stock market and the bullish phenomenon in the housing market, those manufacturing industries did not develop their own flagship products, and instead invested their working capital in real estate and the stock market, which led to the subsequent manufacturing crisis!
The positive thing is! Due to the impact of the financial crisis, the government has become active. The government no longer enjoys taxes so stably, but only issues policies! In 2008, a series of economic growth policies were born! Another positive aspect is that online shopping is positive, because the price is too high in reality, and another reason is that some people follow the trend and feel novel, which is even worse with the media hype!
Personal opinion, for reference only!