Chapter 154: Big Gamble
It is the 26th day of the twelfth lunar month when it comes back to Saigon again. Citizens are busy celebrating the New Year, and senior government officials and MPs are busy preparing for the constitutional conference after the New Year. ⊙,
Li Weimin was going to take a plane to the United States in the afternoon. I don’t know when I would be able to come back when I left. Ng Diem and Ng Ting-jeong turned down everything and closed the door and held a "three-person meeting".
"This year is the year of election. It is logical that Eisenhower can be re-elected. No one can say that this is not accurate until the last moment. It is impossible not to pay attention. It is also risky if you pay too much attention. The Taiwanese man was forced to put down the wrong bet at that time, and the weapons were banned and there was no point in aid."
The United States has great uncertainty in its policy towards Vietnam. Although Eisenhower is unreliable and even planned to replace people when Pingchuan sent warlords to coup, he finally supported South Vietnam. Without his help, the current situation would not have been possible.
Diem Ng hated Eisenhower's "betrayal" and was worried that someone who was worse than Eisenhower came up. After a long silence, he looked up and said, "For the people, we must pay attention and make more preparations."
A new member of the Ministry of Foreign Affairs. Although his father-in-law is the ambassador to the United States, he has no connections in the United States, let alone influence. Now he is the one who can go to the United States for the government.
Wu Ting-ying took a deep breath and said sideways: "For the people, I can only trouble you with diplomatic affairs."
Li Weimin took out a stack of documents from his bag and smiled helplessly: "It's not an outsider, so I can't say the trouble, but this time I'll go out for a long time. We need to carry out the second round of investment promotion, we need to issue the third phase of industrial investment bonds, we need to organize enterprises in industrial villages to attend exhibitions in several European and American countries, and we need to understand the operations of those representative offices on the spot."
"Engineering Investment Company is assured that I promise that the 'people who do the serious business' will not be disturbed, and that you are the same as not."
"I feel relieved if Mr. Yan said this."
The first few pages of the document are all about schedules, and they are scheduled until June, and they even have to go to the Middle East and Africa. Diem turned to the last few pages and asked with confusion: "What is this? Did you get the wrong one?"
"That's right."
There is a list of bulk equipment procurement and payment methods from the Infrastructure Engineering Department of the Industrial Investment Company, and a foreign exchange application submitted by enterprises in the industrial village. They intend to exchange local currency for foreign exchange to purchase machinery and equipment abroad. All business or financial matters are actually stamped with a top-secret stamp on the documents.
Wu Diem was confused, and Wu Ting-jeong was also confused.
Li Weimin pointed to the settlement method and date and said with a smile: "From the beginning of this month to the end of this year, all equipment imported by industrial investment companies and enterprises in industrial villages will be settled in pounds. The settlement date is set after November.
Wu Diem was confused and put down the document and asked: "What if the machine is waiting to be used and the other party disagrees with the settlement in November?"
"Bank of East Asia issues acceptance bills, promising to settle in full in pounds in November. For equipment manufacturers or intermediaries, it is just the difference between getting the payment earlier or getting the payment later. And during this period, they can use the acceptance bills as cash and pay them to their accessories or raw materials suppliers."
Ng Diem doesn’t understand finance, Ng Ting-hsiung doesn’t understand either. Anyway, there are no outsiders here, so he asked curiously: “For the people, the reputation of East Asia Bank is definitely fine, and the other party should be able to accept it, but the bill of exchange is issued based on the amount of the purchase price, so there is no such coincidence that it can be used as cash.”
"You mean what if the other party wants to pay the next company and the money on the bill of exchange is too much?"
"Um."
"This problem is easy to solve. If you are less, just make up some money. If there is too much money on the bill of exchange, you can go to the East Asian Bank branch or branch to disassemble it. Anyway, the foreign exchange to be paid will not change when it expires, just let's just pay it a few times."
"Why are you doing this trouble?"
“Because I think the pound will depreciate, and paying in this way can save money for companies and businesses in industrial villages, and it’s a lot of money.”
Since the end of World War II, Britain's strength has continued to decline and its economy has shrunk.
The current Prime Minister Aiden has a low approval rating and has appointed a large number of young Conservatives who will not threaten his status to enter the management. The opposition and the politicians in the Conservative Party are very dissatisfied with the people, the people are dissatisfied with the government, the strikes are frequent, and social shocks are turbulent.
The French franc is constantly depreciating. The depreciation of the pound is expected.
But when you think about it, people can also think that risks can be taken into account when signing a supply contract.
Wu Diem felt that this would not save much money, but Wu Ting-jeong thought that the Industrial Investment Company had no money and the East Asian Bank did not have so much foreign exchange, so he came up with such a troublesome settlement method.
"The two of you misunderstood. Actually, I mean the Suez Canal."
Li Weimin took a sip of coffee and patiently explained: "We are not the only country that strives for national independence, but also the same is true for the Middle East. Over the past period of time, Egypt's call for the revocation of the Suez Canal has become increasingly louder and has been in a stalemate with Britain, France and Israel.
Last year, the Egyptian president made two moves, claiming to arm the revocation of management rights, which directly led to Israel's two general mobilizations, with each mobilization losing more than $10 million. Nasser, who is running for the new president, is more radical and has a very high approval rating. If he comes to power, he will definitely take action."
“The UK has shares in the Canal Company!”
"Yes, if the Aiden government gives in, the British people will not agree. If they take military action with France and Israel, the financial pressure will be greater and the economic situation will be worse. Not to mention that once the fight begins, the Suez Canal will not be opened to navigation, and British tankers can only detour from the Cape of Good Hope."
Oil prices are directly related to the economy of Western countries. Ng Diem reacted and nodded repeatedly: "If it depreciates, we can save a lot of foreign exchange. If it does not depreciate, we will not lose."
"Mr. Yan, the industrial village needs development funds. I not only want to reduce the expenditure but also plan to open up the source. In addition to requiring companies and enterprises in the industrial village to settle in this way, I also want to gamble in the international foreign exchange market and oil futures market. If I win, in fact, the winning chances are very high, I don't have to worry about the first phase of industrial investment bonds, and the four industrial villages that are being planned can be started together in advance."
There is no doubt that he wanted to make a big gamble.
Diem asked with concern: "What if I lose?"
"The British economy has become like that. The pound can only depreciate and cannot appreciate. If you lose, you can't lose much. At most, you can pay for some handling fees."
You can try it out of small things, after all, he is not for himself, but for this country.
Diem Ng weighed it and asked again: "Do you have any specific plans?"
Li Weimin laughed and said, "This is how we explain equipment suppliers and middlemen. Although East Asian banking business is mostly in Vietnam, it has a longer history in Hong Kong, so it can use more pounds than US dollars. As for why it has to be delayed until November, it is entirely some financial arrangements of banks."
The United States has indeed increased a lot of US aid, but few actually flowed into Vietnam. Most of them purchased the machinery and equipment of American companies and some urgently needed goods according to the "Commodity Import Plan". Vietnamese Chinese businessmen have close ties with Hong Kong, and East Asian Bank has business in Hong Kong, so it is normal for them to own the British pound.
The State Bank and the Foreign Exchange Administration are still in the hands of the French, and the Bank of East Asia plays the role of a "central bank" to some extent.
Industrial investment companies and industrial village enterprises need to import equipment. They have to apply for exchanges from the Bank of East Asia. The Bank of East Asia has more pounds and Hong Kong dollars than the US dollar. This explanation basically makes sense, and others will not be suspicious.
Li Weimin paused and continued: "I will try every means to borrow money from as much capital as possible. Mr. Guo and Mr. Liu coordinated with the US aid management team to set the exchange limit of $16 million this year in October, so I have an excuse to lend it among my peers."
If you want to speculate, you need foreign exchange. You will definitely not be able to borrow it in Vietnam. Wu Ting-hwa asked curiously: "Who are you planning to borrow it?"
"On the day of the marriage, Jiang Enkai mentioned to me about the establishment of diplomatic relations between the two countries. I don't think they will be satisfied with the diplomatic relations at the minister level. If Mr. Yan and Mr. Wang agree, I would like to use this as a condition to take them to borrow a short-term loan."
Borrowing one or two million dollars does not play a big role. If you want to borrow, you must borrow more. Looking at neighboring countries and regions, Taiwan is the only one who can borrow money.
Thinking that the brother of distress was not a little stingy, he had provided assistance worth millions of Piast since last year and now, he sent a medical team of 10 people. Ng Diem asked with a smile: "Are they willing to borrow?"
"Short-term loans will be turned over in a few months. It's not that you won't pay them back. Besides, the lean camel is bigger than a horse, and they can still get 10 or 20 million US dollars."
In front of Taiwan, Ng Diem really has a sense of superiority. Taiwan has always been seeking to establish diplomatic relations. Because as a permanent member of the United Nations, they need to show their presence in this way and demonstrate their "major power status".
Ng Diem weighed the pros and downs and said with a smile: "Go to talk to them, as long as you provide $20 million in interest-free loans, you will upgrade the minister-level diplomatic relations to the ambassador level."
The government has helped. It cannot be without any benefit.
Li Weimin looked back at Wu Ting-jeong and said with a wicked smile: "They don't count interest. I will count interest to the government. If I make money in the future, I will squeeze out part of the military industry."
The industrial village plan is like a bottomless pit, and it is not enough to spend much money on it.
Despite this, Wu Ting-hsiung still supported it because only when the industrial village plan is successful can the government not be controlled everywhere like now. He calculated and lit a cigarette and said, "For the people, I haven't touched the handling fee for applying for passports to overseas expatriates. When do you need it, I will ask you to transfer the company's account."
"Thanks."
Ng Diem sighed lightly and said solemnly: "What are you grateful for? I feel ashamed to say that as a president, I can't afford to pay when I'm most short of money."
He said that he could not use the foreign exchange reserves of the National Bank. It was quite frustrating to think about it. Li Weimin immediately changed the topic: "In addition to borrowing money from the Republic of China, I plan to borrow some more from the Chinese banks in Southeast Asia. Commercial lending always has a name, so next industrial investment company will set up an airline to make it lively and make it like that."
When you set up an airline, you have to buy a plane, and you have to buy a lot of money.
How could Ng Diem not know what he was thinking? He took off his glasses and said with a smile: "I will attend the establishment ceremony and promise to help you make fun of it."
If you have to borrow money, airlines will also be established, otherwise how can you evacuate overseas Chinese in Indonesia in the future?
Chapter completed!