The Son of Finance of the Great Age

  Chapter 335 Fierce Congressional Debate (Part 2)

  The education in the Republic of Korea is notoriously weak, coupled with the inherent paranoid arrogance of the Koreans themselves, many people think that if the Republic of Korea is called the second in the world, then no one dares to be the number one in the world.

   It’s no wonder that in a country where most people regard a visit to Jeju Island as a country, it is naturally difficult to distinguish how big and complicated the world is.

  Naturally, the elites of this country still have a correct understanding of the whole world, but this does not prevent them from mobilizing the ignorance of the people.

  At this time, Kim Dae-jung just took advantage of this opportunity of the National Assembly to vote on the bill to explain his ruling philosophy to the audience and financial groups waiting in front of the TV.

In his previous speech, he first promised the banking consortiums that they would get rid of the management intervention of the government's administrative orders; secondly, he hinted to those consortiums involved in export business that they would stop intervening in the foreign exchange market and prepare to stimulate exports at the same time. He started to solve the problem of being unable to repay foreign debts; finally, he stated bluntly to ordinary people that all the responsibility for the current predicament comes from the current cabinet. Although it has not shown half of it so far, everyone should be vigilant. Crisis can break out at any time.

   Not only appeasing a large consortium in a few short sentences, but also throwing out a shocking news in a timely manner, this is the skill of a politician. Every sentence is not aimless, and there is a deep meaning hidden behind it.

The Minister of Finance Wu Haokang who was the first to be attacked by his words, lost his mind under the combination of shame and anger, grabbed the microphone next to him and questioned loudly: "Rep. Jin, since you mentioned that there are so many crises in the domestic economy, So do you have any good solutions? Don’t expect to be able to hide it with empty words and rhetoric here!”

  Wu Haokang said these words in a feverish state, and he didn't even have time to think about the consequences. The result naturally caused an uproar. The congress hall, which had been listening quietly to Kim Dae-jung, suddenly burst into a "buzzing" sound. Talk loudly.

  Although there are a series of problems in the South Korean economy, generally speaking, the news is still controlled within a certain range. Ordinary people are not aware of this aspect, and they are too lazy to pay attention to these news. In other words, these voters are still immersed in the halo of the "Miracle of the Han River" and believe that there will be about 5% economic growth this year, and that income will increase a little more. And now, under Wu Haokang's unscrupulous words, they have learned the fact that the Korean economy is facing a serious crisis. How can this not surprise them?

   Once the people are deceived, they will definitely think of other aspects, which may be a fatal blow to the current ruling party and their government. Although they also launched a presidential candidate, Lee In-je, a new representative of the New Korea Party, and the opinion polls are comparable to Kim Dae-jung, Lee Hoi-chang, etc., but once the public doubts them, they will doubt the current presidential candidate. It would be a heavy blow to their campaign.

  Wu Haokang, who came to his senses as soon as the words came out, glanced at Li Renji, who was sitting upright with a livid face, and saw his dignified and angry look, and suddenly his face turned pale with fright, and sweat poured down like rain. Under the chaos, he quickly added: "Well... I'm talking about if, hypothetical, not saying...it might happen...happen."

   Under the chaos, he made another fatal mistake. This kind of inconsistency and pretentious performance has further confirmed the previous suspicions of the public.

   Now not only the congressmen at the conference site were discussing, even the audience in front of the TV couldn't sit still, and began to whisper to each other to discuss what Kim Dae-jung said earlier. Although most of them didn't understand what Kim Dae-jung said, it didn't affect their liking for him. After all, there was a pig-like opponent as a foil.

At this time, Jin Dazhong was very proud of himself. Regarding Wu Haokang's self-slapping performance, he had never thought of it before, but now that the opportunity has appeared, if he can't grasp it in time, he will be sorry for the **** people who have been fighting all the way from the party. fought hard. He cleared his throat, and said loudly: "For the current situation, I think about it from three points. The first is to restore the credit rating of the financial system, so that banks have the right to independently choose to issue loans, or let They have more power in this regard. The second is to increase support for export companies, take advantage of the opportunity of the depreciation of the Korean won to expand exports, and throw off our competitors. The third is to control the level of domestic inflation. Let the standard of living of our citizens in the Republic of Korea not be affected as much as possible."

  These three points are based on the previous views, which are still relatively empty, but at least give some direction, taking the opportunity to let the audience in front of the TV know his ruling philosophy, although this ruling philosophy is only on paper.

Wu Haokang's eyes lit up, and he took the opportunity to express his embarrassment: "Member Kim, it's hard to convince others with your bombastic talk. How about this, assuming that the South Korean economy will have many problems as you mentioned, then you can, in front of many congressmen, In front of the tens of millions of citizens of the Republic of Korea, say one, even one, your specific solution. Listen clearly, it is not the empty content just now, but a plan that can be implemented and saved immediately. "

After finishing speaking, he glanced triumphantly at Kim Dae-jung, and then glanced at Li Renji below, just as Li Renji was also nodding slightly towards him, Wu Haokang was overjoyed, and thought to himself that he had finally pulled back a victory, saying I am not sure that I can keep my position as Minister of Finance.

Kim Dae-jung had been prepared for this long ago, his face remained unchanged, and he said calmly: "Since Minister Wu asked me, a congressman with little power, for advice, does it mean that you are helpless about the current situation?" There was a burst of laughter, and the members of the New Politics National Assembly Party laughed very cooperatively, mocking the current finance minister for asking for help from members of the opposition party.

  In any case, Wu Haokang has confirmed the word "mediocre and incompetent". The Minister of Finance, who was hit by Kim Dae-jung's sharp counterattack, turned blue and red, and was speechless for a while.

Without waiting for Wu Haokang to answer, Kim Dae-jung went on to say: "Actually, the way to solve it is very simple, and there are lessons learned from the past. For example, in Southeast Asia, Thailand, Indonesia, and the Philippines, when the currency was attacked, they all chose to use the The IMF called for bailouts and recovered in a matter of months, so we can probably follow that routine."

  The South Korean House of Representatives, which was still full of voices, immediately became silent after Kim Dae-jung's words came out. You must know that although the International Monetary Fund aided the countries mentioned by Kim Dae-jung, they also paid a corresponding price, that is, they were forced to open more markets. The consequence of this is to compress the living space of domestic production enterprises, which is extremely unfavorable to countries that are committed to establishing a domestic industrial base and relying on themselves rather than external forces. Especially for a country like South Korea with extremely strong national self-esteem, opening up the market is almost equivalent to killing those industries.

  Kim Dae-jung couldn’t have thought of this, right? The councilors looked strange, and they all thought of such a view in their hearts.

  Wu Haokang was overjoyed again, wondering why this sharp-tongued candidate made such a big mistake. You must know that nationalism is prevalent in South Korea. Koreans stubbornly believe that everything they produce is the best in the world. For this reason, they even went to demonstrations to ask the government to cancel the import of beef from the United States. The result is their own domestic meat. The price of the product is as high as sky-high, and Koreans eat a good meal by themselves, which is the so-called meal of meat.

But before Wu Haokang could refute, Kim Dae-jung immediately went on to say: "What I want the citizens of the Republic of Korea to know is that the economic crisis I mentioned earlier is imminent. It may be today or tomorrow. In short, it is just around the corner. The government has repeatedly said that it does not need the help of the IMF, which is blatantly setting the people in dire straits. As far as I know, the Bank of Korea (central bank) is almost depleting their foreign exchange reserves, and the Korean won will soon be depleted. It will depreciate, if our government does not ask for international help, then your money will soon depreciate, prices will rise rapidly, factories will close, people will lose their jobs, and even some people will live on the streets and become homeless. Republic of Korea The sun will fall, and the country will be plunged into darkness. All of this may be caused by the South Korean government’s refusal of IMF assistance today.”

"So, what I'm talking about asking for help from the international community is not what I might do after being elected president, but what the government needs to do now. If they don't find a solution, I will lead my party members to the Cheong Wa Dae Hunger strike and sit-in, to protest against their dereliction of duty, their inaction and the misery of the country.”

After he finished speaking, he raised his fist, and members of the New Politics National Assembly Party stood up one after another, raised their fists together, and shouted in unison: "Go to the Blue House!" "Go to protest!" "Shiba... "

  After arriving here, the lawmakers including the ruling New Korea Party all understood that Kim Dae-jung originally had this idea to shift all responsibility to the current government and force them to immediately start negotiations with the International Monetary Fund. In this way, the charge of betraying South Korea will not fall on them. Even if they are finally elected president, they are helping the previous president to clean up the mess, not betraying the country.

   "Good method! It really is a good method!" Those who wanted to understand gasped in their hearts. Such a meticulous and provocative plan must have been premeditated a long time ago!

  The scene fell into chaos for a while, and the two sides began to attack each other verbally, and some even raised their arms to fight with real swords and guns. It's just that Wu Haokang, the target of the New Politics National Assembly Party today, has already withered, and was so refuted that he couldn't say a word, which made their original plan to do something fall through.

  It needs to be explained that I often see Japanese, Korean and other parliamentarians fighting over a certain bill on TV. This kind of scene usually happens, the nose is bruised and the eyes are swollen, and the severe one is bleeding. The public can watch the live broadcast on TV, and see how their congressmen are desperate to help them fight for their interests. In fact, these are all arranged. Certain parties who are going to fight will notify the media in advance, stating that there will be physical conflicts today, so that the media can prepare early and let the broadcast record their brave side. And in private, after the fight, the two sides might go to find flowers and ask willows together at night, hold each other's arms, and call each other affectionately, "Brother, I'm sorry during the day" and so on.

  This is what the New Politics National Assembly Party intends. Unfortunately, today's opponents are a bit weak, so they are too embarrassed to do it.

   At this moment, there was a sudden commotion in the broadcast seat, which attracted the attention of the chaotic congressmen below. If there is a problem with the communication agency, then their heroic image will not be publicized, and now this show is meaningless, so they stopped their bickering and looked at the reporters above with strange expressions.

   Not long after, I heard a reporter yelling loudly: "It's bad! The latest quotation in the foreign exchange market, the Korean won to the US dollar has fallen below the 1:1000 mark! Councilor Kim's prediction has come true ahead of schedule!"

Hearing this news, everyone felt a "thud" in their hearts, and the governing members of the New Korea Party turned pale. They knew very well in their hearts that it was inevitable that this so-called financial reform plan would be rejected by Congress, and the current The South Korean government may also be forced to start negotiations with the International Monetary Fund because of Kim Dae-jung's remarks today.

  17th, on this day, because South Korea’s financial reform plan was blocked, or because the Korean won price in the foreign exchange market fell below the important threshold of 1:1000, it is not clear who is the cause and who is the effect. In short, the South Korean won fell sharply. As of the close, the exchange rate between the Korean won and the US dollar fell from 997.90 in the previous trading day to a new low of 1008.60. Although the Bank of Korea has intervened in the market, the magnitude is almost equal to nothing, which is actually equivalent to giving up intervention in the Korean won.

  The time for the Korean won to plummet has finally arrived! Although the South Korean won has dropped more than 20% against the U.S. dollar since this year, the situation is different now, and the daily fluctuation range of 2.25% stipulated by the South Korean government may soon be rewritten!

   Thank you book friend Huan Ge for voting for monthly support!

  (end of this chapter)