v3 Chapter 1167： Christmas War (2

The situation in the Xiangjiang stock market and futures market is very good, various companies are also developing in an orderly manner, and the withdrawal of funds from the Galaxy Fund is also very smooth, which makes Xia Yu feel very good for a period of time.

It's just that someone has affected his good mood at this time!

The morning of December 15th.

Xia Yu had just returned from an inspection of the Tiangong Automobile Group factory in Yuen Long Science and Technology Industrial Park, but Wang Qi ran over to report to him.

In order to create a stable investment environment as much as possible and optimize the inflation problem in Hong Kong, the Hong Kong Government’s Financial Secretary is preparing to reform the exchange rate system in Hong Kong. There is a relatively loud voice inside, suggesting that the floating exchange rate system implemented in 1974 should be changed. Change to a fixed exchange rate system again, linked to the British pound!

"It is mainly British who agree with this opinion?"

Xia Yu asked Wang Qi with a cold face.

Wang Qi nodded and said, "Yes!"

"These people are too selfish. Now Britain has fallen behind. The exchange rate of the pound fluctuates greatly. If the Hong Kong dollar is linked to the pound, the great situation we have just emerged will be completely destroyed."

"Even if it is pegged, it is pegged to the U.S. dollar. Where does one get the pound!"

"These people should get out of here!"

"You make a list, and I will ask people to take out their black materials, clear them all out, and replace them with ‘better’ Chinese."

Xia Yu said with a cold snort.

Wang Qi second understood, and nodded with a smile: "Okay, Chairman, I will let Zhou Shanwen make a list tomorrow at the latest."

"Ok!"

Xia Yu nodded slightly, his expression slowly.

At this time, Wang Qi pondered for a moment and said: “Chairman, in fact, Xiangjiang’s floating exchange rate system does have a big problem. Although the banking, stock and futures markets are all prospering, the current exchange rate system is very Big hidden danger."

"Two years ago, the U.S. dollar against the Hong Kong dollar was still around 4.6 Hong Kong dollars per dollar."

"However, the Hong Kong dollar has been depreciating in the past two years, and this year it has depreciated to a dollar to 7.2 dollars."

"Fortunately, the release of the "Sino-British Joint Statement" has given Xiangjiang's economy a boost. Coupled with the vigorous development of the stock and futures markets in the past few months, it has boosted the revaluation of the Hong Kong dollar."

"But now the exchange rate is fluctuating around one U.S. dollar to 6.2 Hong Kong dollars. Compared to a few years ago, the depreciation is relatively large.

"However, the large-scale inflow of foreign capital into Hong Kong during this period has also led to the continuous appreciation of the Hong Kong dollar. This will have a great impact on Hong Kong’s export economy, real economy and employment. It is also not conducive to foreign investment in Hong Kong. This has a serious impact. The economic foundation of Xiangjiang."

Xia Yu showed appreciation, nodded and said: "You are right, Xiangjiang's exchange rate system does have a big problem, and it is time to plug this loophole!"

Wang Qi's eyes lit up and he looked at Xia Yu expectantly, and said: "Chairman, Zhou Shanwen told me that there are three main views within the Financial Secretary. The biggest voice is to change to a fixed linked exchange rate system, which is linked to the pound sterling ."

"The second voice is to maintain a floating exchange rate and maintain monetary policy independence, but to increase foreign exchange reserves, expand the Monetary Authority, and improve the Hong Kong government's ability to control exchange rates."

"The third voice was also changed to a fixed linked exchange rate, but it was pegged to the US dollar. Zhou Shanwen held this view."

"Chairman, which exchange rate system do you think is more suitable for the current Xiangjiang?"

Xia Yu's eyes were a little surprised, and the exchange rate system of the previous life of Xiangjiang appeared in his mind, and all the advantages and disadvantages flashed in his mind.

In this world, there are two exchange rate systems, one is a floating exchange rate system, and the other is a fixed exchange rate system.

Now the mainland has a fixed exchange rate system, and it was not changed to a floating exchange rate system until 2005.

Different exchange rate systems behave differently and have different advantages and disadvantages when faced with the impact of international capital flows on the domestic economy.

Generally speaking, when choosing a floating exchange rate, market forces mainly control the cross-border flow of capital.

There are many benefits to implementing a floating exchange rate system. For example, a floating exchange rate system can ensure the independence of monetary policy; a floating exchange rate can help alleviate external shocks; government interventions are reduced, and the exchange rate will be determined by the market and more transparent; the government does not need Maintain huge foreign exchange reserves.

But the shortcomings are also obvious. Under the floating exchange rate system, the exchange rate often fluctuates significantly, which may not be conducive to trade and investment; and because the exchange rate is freely floating, people may engage in speculation activities, leading to currency exchange rate instability; the most important However, the floating exchange rate system puts forward higher requirements on a country’s macroeconomic management capabilities and financial market development.

In the past life, the mainland, with its vast land and abundant resources, has experienced many setbacks in its ability to manage the RMB exchange rate to mature, but it also faces challenges from time to time.

How can the Xiangjiang area, which has a small population and few people, compare with the big countries?

In the past seven or eight years of implementing the floating exchange rate system, it can be seen how capable the Hong Kong government is in this regard, and the tuition fees paid have already been quite high.

While choosing a fixed exchange rate requires the government to control the cross-border flow of capital, which is conducive to stable economic development.

Because under the fixed exchange rate system, the exchange rate is relatively stable, and the fluctuation range of the exchange rate is either spontaneously maintained or artificially maintained, which enables the price determination of import and export products, the calculation and control of international trade costs, and the settlement of international claims and debts. It is carried out relatively stably, which reduces the risk of exchange rate fluctuations.

And a fixed exchange rate is conducive to the cost and profit accounting of economic entities in international trade, international credit and international investment, avoids the risk of exchange rate fluctuations, and plays a certain role in promoting the development of the world economy.

But fixed exchange rates also have great disadvantages. For example, the most obvious is the loss of monetary policy independence and the loss of the country’s “leverage” role in adjusting the economy. It is easy to transmit inflation internationally and cause economic problems.

The advantages and disadvantages of the two exchange rate systems are obvious, and they have long been explored by the elites of the world.

The "Triple Paradox" theory put forward by American economist Paul Krugman believes that the three goals of monetary policy independence, exchange rate stability, and free capital flow cannot be achieved at the same time, only two can be achieved at the same time.

In fact, countries can only choose two goals that are beneficial to them.

Combining the path taken by Xiangjiang in the previous life and the current situation in Xiangjiang.

Xia Yu believes that in the next 20 years, the linked exchange rate system is most suitable for Xiangjiang, and it is pegged to the US dollar. This linked exchange rate system is essentially a fixed exchange rate system.

However, once the linked exchange rate system is activated, Hong Kong must have a huge foreign exchange reserve of US dollars.

Because when more people want to exchange Hong Kong dollars for US dollars, if there is no sufficient US dollar foreign exchange reserves to supply, then foreign exchange will appear to be in short supply, the Hong Kong dollar will depreciate, and the linked exchange rate system will collapse.

Of course, as long as foreign exchange reserves are sufficient, we are not afraid of attacks by international speculators.

During the 1997 financial crisis, Xiangjiang's own huge foreign exchange reserves, coupled with the full support of the mainland, made Soros and other international speculators, who were invincible in Southeast Asia, lost to Xiangjiang.

The fact that Xiangjiang is completely different from other countries in Southeast Asia also fully reflects the important role of the linked exchange rate system to Xiangjiang.

As for how to go after Xiangjiang's return, whether to change the exchange rate system, he doesn't need to worry about it.

Because of the mainland's talent system and financial system support at that time, Heung Kong was fully qualified to resist all kinds of storms and implement the linked exchange rate system. He only needed to sit back and enjoy his achievements.

Now he is obviously a businessman, but he has to worry about the present and future of the entire Xiangjiang from a political perspective.

Hard work!

But he paid so much, and he deserves the benefits as hard expenses...

Xia Yu shook his head slightly, looked at Wang Qi again, and ordered: "The most suitable for Hong Kong is the linked exchange rate system, which is pegged to the U.S. dollar. The current exchange rate is one U.S. dollar to 6.2 Hong Kong dollars, so it can be set at this benchmark.

"As for the details, I also have some ideas."

"But you have enough things, these things don't need you to follow up."

"Zhou Shanwen is the Deputy Director of the Monetary Management Bureau of the Financial Secretary. You can ask him to come to me as soon as possible. I will have a good chat with him."

"Okay!" Wang Qi obediently responded.

……

Regarding the call of the big boss behind the scenes, Zhou Shanwen did not dare to neglect, so he asked for leave to report to Xia Yu the next morning.

That morning, Xia Yu inquired in detail about the internal situation of the Financial Secretary and the Monetary Authority, and then talked to him a lot about the linked exchange rate system, which made Zhou Shanwen's thinking very clear.

At the end, Xia Yu also urged Zhou Shanwen to prepare him to be the head of the Financial Administration Bureau for this period of time. This made Zhou Shanwen very happy and thanked Xia Yu for his cultivation.

After Zhou Shanwen left, Xia Yu ordered Luo Wang to act.

He put his main energy on sorting out his assets and making development plans for next year.

……

The Christmas holiday in European and American countries is equivalent to a winter holiday. The holiday time is generally from December 22 to January 5, and there are two weeks.

As time approaches the Christmas in the West.

Companies from all walks of life have also started large-scale advertising and marketing activities, trying to get enough income during the biggest holiday of the year.

In the video game industry, the marketing war is already in full swing.

However, the most invested capital, the most marketing efforts, and the most well-known are the Tiangong Electronics Group and Atari Company.

Just in the United States, Huo Jianning invested millions of dollars in advertising and marketing. In addition, Huo Jianning had contacted Peter Lynch in advance. Therefore, the tens of millions of dollars was completely spent on the effect of 20 million dollars.

This puts Atari and its parent company, Warner Bros. Entertainment, under tremendous pressure and had to invest more money in marketing.

No way, for this Christmas war, Atari company has newly produced 10 million Atari 2600 game consoles and 5 million copies of "ET Alien" game cassettes. Of course, there are still in the warehouse. There are seven million copies of "Pac-Man" game cassettes that have not yet been sold.

Together with other game cassettes, Atari plans to market up to 15 million game cassettes.

This Christmas, Atari and Warner Bros. Entertainment are preparing to make big money.

"E·T Alien", this explosive game is not only to make money, but also to promote the sales of Atari 2600 game console.

After all, the explosive game "ET Alien" can only be run on Atari 2600 game console!

For the market prospects, Atari also has enough confidence, because the distributor has already taken four million copies of the "ET Alien" game cassettes and more than two million Atari 2600 game consoles in advance. .

Now at Atari’s warehouse, there are only one million copies of "E·T Alien" game cassettes, and the cassette production plant is also on standby at any time. As long as the sales frenzy erupts, they can continue to produce them as soon as possible. Game cassettes ensure adequate market supply.

Therefore, when everything is ready, it must not be taken over by the biggest competitor Tiangong Electronics Group in the most critical period.

On December 22, the American Christmas holiday officially began.

It is also on this day that Atari and Tiangong Electronics Group held a press conference in New York at the same time, and the location of the press conference was not far from each other, which was completely in the rhythm of a frontal ring.

Atari company is still launching the Atari 2600 game console, as well as the trump card "ET Alien" game cassette and the newly designed level "Space Invaders" game cassette.

The Tiangong Electronics Group is launching the second-generation home game console TG-MasterSystem2, and five games headed by the game "Red Dead Redemption" adapted from Clint Eastwood's "Fistful of Dollars" New game cassettes, and of course, "Super Mario", "Huaxia Cube", "Tank Battle" and other game cassettes that have been sold worldwide, with redesigned game levels.

As far as the lineup is concerned, although Atari has a large number of cassettes, it has a lot of shoddy products. The card "Pac-Man" has been beaten, and only "ET Alien" and "Space Invaders."

After the 　　 press conference, dealers across the United States who have already been gearing up for it officially started selling.

On this day, I don’t know how many children smashed the piggy bank and rushed to the nearest game retail store to buy game consoles and game cassettes with the hard-earned money.

……

Fourteen-year-old Jack is a game fan. His enlightenment game is "Space Invaders". He has long known through TV commercials and promotional posters that today is the day when many game companies release new games.

Although Atari launched many garbage games this year, he was disappointed, but his whole family likes E·T, the cute big-headed alien.

The product of the combination of the two-the "ET Alien" game, has long been waiting for him.

After he came to the game retail store with a wealthy family, he bought the "ET Alien" game cassette without hesitation. As for the Atari 2600 console, he already had it and didn't buy it again.

However, he was also captured by the fine games of the Tiangong Electronics Group. He also bought the TG-MasterSystem2 game console, as well as ten game cassettes such as "Red Dead Redemption" and "Super Mario".

After 　　, he hurried home and asked his brother to play games together.

The first one to play, of course, is the most anticipated "ET Alien" game.

Just less than five minutes...

"Damn it, Atari has developed another **** game. This **** giant pit can't get up after falling. It's meaningless..."

"I'm like a clown, being laughed at by Atari..."

"Lovely and kind-hearted E·T, UU reading turned out to be developed into this kind of garbage game, this is deceiving our feelings, I want to return!"

An angry Jack directly threw the Atari 2600 game console aside, and then, under the comfort of his younger brother, took apart the TG-MasterSystem2 game console and the latest game "Red Dead Redemption".

Five minutes later...

This vertical scrolling shooting game with Bounty Hunter Billy Bob as the protagonist in the American West in 1849 completely captured the Jack brothers.

The two games are up against each other!

Jack was completely disappointed with Atari.

In the afternoon of the next day, he played all the games of the Tiangong Electronics Group. While lamenting the classics of the game, he saw the Atari 2600 game console and "ET Alien" that he left aside. The game cassette was suddenly out of breath, but he was so angry that he reinstalled the game cassette back into the packaging box and rushed to the game retail store to request a return.

There, he found that many people like him had come to return the goods.

The same is true for the items that require return, which is surprisingly the "E·T Alien" game cassette...

PS: The two chapters have been merged into one, and they have not been divided into two chapters. I just went to the hospital this afternoon and spent more than 900 years. It was painful both physically and mentally. Would you like to vote for comfort? (*^▽^*)

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