America: My Time

Chapter 548 Export Rights

Chapter 548 Export Rights
It was a boring start, with some people going about their own business and small groups talking amongst themselves. But this didn't last long. Soon, John was led by White House staff to the conference room, where the old guys were already seated. John took his seat, and soon everyone was there. Most of them were business leaders, with only a few economic experts, including Greenspan, the chairman of the Federal Reserve.

Soon, those old guys began their respective performances, which made John sneer repeatedly. These old guys didn't want to contribute anything, yet they wanted to escape the stock market crash. It was clear they were all overthinking things and just playing the victim. This not only made John sneer inwardly, but also made the White House and Greenspan frown. It was obvious that these guys wanted the White House and the Federal Reserve to bear some of the cost for them.

"Mr. John, I wonder how you view this stock market crash. Among everyone here, only Hurricane Investment reacted first, and only you saw the crisis, while none of us felt the crisis coming!" At this moment, Federal Reserve Chairman Greenspan turned the conversation to John and the cause of the stock market crash.

"My view is simple. From a big data perspective, the various data from the US before were similar to those stock market crashes: a large fiscal deficit, and the technological problems I've mentioned before. You just kept touting how good and normal the US economy was, refusing to face the reality. But you have no choice. When the economy develops to a certain level, these hidden dangers will be exposed, and the stock market crash will naturally follow. I said before about the semiconductor competition that your methods were useless. Japan still holds an absolute advantage in semiconductors. Although South Korea is catching up, there's still a long way to go to compete with Japan. As for the exchange rate, it goes without saying. Although the US dollar has depreciated, have we gotten our exports back? No. What haven't we gotten back? Many of you here were boasting about it back then. Do you still think that just because the US dollar has depreciated, we can compete with Japan for market share in these areas?"

“Mr. John, we all understand that we overestimated our strength and underestimated Japan’s capabilities, but now is not the time to address this problem. Instead, we should find a way to resolve the stock market crash.”

"Heh, you haven't even figured out your own problems before trying to resolve the stock market crash. How can you resolve it? By having Wall Street prop up the market and everyone else step in to save it? That's completely useless. It's only a temporary solution, and it won't be long before it falls again. What you need to do is increase your R&D investment and surpass your competitors in technology. Of course, some people think they can get their technology from Japan, but can you keep getting everything you want from them? And how long do you think it will take to digest their technology? By the time you've digested their superior technology, they'll already have even better technology. Promoting the stock market is fine, but you also need to increase your own investment. Mr. Greenspan, how much do you know about US economic data?"

At this moment, John turned his gaze to the chairman of the Federal Reserve. His instincts told him that this guy was in cahoots with those old guys and that he was hostile to him, so John didn't want to give him any face.

"It seems Mr. Greenspan isn't quite familiar with the situation. Let me explain. Before the stock market crash, various US data were very similar to the economic crisis of 1929, with huge fiscal and trade deficits. Last year, both the US fiscal and trade deficits reached record highs, while domestically, due to various problems, technology hadn't kept up, particularly in sectors like semiconductors and automobiles. There was also the danger posed by the depreciation of the dollar. Because of the large trade deficit and the depreciation of the dollar, confidence in the dollar and the US stock market was shaken. The dollar's depreciation didn't bring the expected results because you didn't pay attention to technological backwardness. Furthermore, a large influx of capital into the securities market led to unprecedented debt inflation, creating your..." The illusion of prosperity you see—how much of the US market is now made domestically? Cars, appliances, clothing, and so on are all flooded with imported products because they are cheaper and of better quality. High-tech products are also scarce, and everyone knows why: no one is willing to invest more in research and development. From semiconductors to lithography machines, and many other industries, many technologies were developed in the US, yet now the market has become dominated by Japan. Hasn't this woken you up? If you want Hurricane Investment to rescue the market, no problem, we will participate, but we will participate selectively and will not bail out worthless companies. Moreover, to stabilize the situation, I will choose to intervene in industries like catering. Of course, if anyone tries to obstruct us again, that will no longer be my problem!

John's words drew nods of agreement from everyone in the White House. They had all studied John's previous statements after the stock market crash, and now, hearing this explanation, they all agreed. However, it was clear that John was only interested in buying up valuable companies at rock-bottom prices, aiming to profit from the crash. This meant that their previous hopes of getting John to step in and stabilize the stock market were dashed, even though he hadn't explicitly stated it.

Although John didn't directly mention it, he made it very clear that the White House handled the matter poorly, so the other party didn't want to give the White House any face.

“Mr. John, please feel free to share your ideas. We can discuss them together. We need to work together to overcome this difficult time. Although there were some minor disagreements before, we can discuss ways to change them!”

"Heh, that's not a small conflict. It's that you haven't treated all companies fairly and justly, and now you want me to step in and take the pressure for you? How could that be? I'll only do my own job, not take the pressure for you." Without equal benefits, John wouldn't agree to these guys' requests; an exchange of interests was the key. If he made the demands himself, these guys would definitely find all sorts of excuses to refuse. Right now, it wasn't him who was anxious, but these guys. "John, just tell us what you want. As long as we can agree to it, we won't shirk our responsibility!" At this moment, under the watchful eyes of the White House, Rockefeller had no choice but to step forward and make a statement. After all, it was Rockefeller who had single-handedly pushed for Hughes Aerospace to be kicked out of the game; now it was their turn to solve the problem, not the White House to bear this responsibility.

"My request is simple: arms export rights—not high-end weapons, of course, but experimental attack drones, and Butler Manufacturing and Latrob Special Metals! If you agree, I can cooperate with you to boost the stock market, and even promise that the Mandarin Oriental Group will invest heavily in the United States, whether through acquisitions or construction. I believe you all know about the development of the Neon Shopping Center; it will significantly boost the entire US economy and be very encouraging. Of course, this is just my personal suggestion. If you think it's not feasible, that's fine too. I will still make the necessary investments, after all, I am also a member of the United States!"

No one believed John's words. If everyone refused, it was clear that this little fox would not only not make a large investment, but also would not cooperate with the White House and everyone present to boost the stock market.

The arms export rights are a demand directed at the White House. As for the two major special metal manufacturing companies, those are demands on everyone present. Since they've taken action to suppress Hughes Aerospace, they need to make a response. Otherwise, if things drag on, John might not care, but they can't. The longer it drags on, the more disadvantageous it will be for them. They all know that Hurricane Investment has a large amount of capital, not only Hurricane Investment but also Standard Chartered Bank and investment companies in Japan. If these funds are used to buy them at rock-bottom prices, the consequences will be severe. Countless core companies could be infiltrated by this little fox.

No one dared to underestimate John's abilities, and now was the best opportunity to buy at the bottom. John, this little fox, had ample funds and manpower, which forced them to take his proposal seriously and face this crisis with caution.

"In principle, there's no problem with the white houses, as long as there's good communication and they can only be sold to friendly countries!"

"Gulfstream Aerospace has access to a very limited number of countries, and as you all know, our biggest customers are Middle Eastern tycoons. So everything is within reasonable limits. It's just that some people will try to stop us. As soon as we get the necessary permits, we will proceed immediately. Mr. Rockefeller, when will you be able to decide on the acquisition of these two steel companies? Once you all agree, I will make the corresponding decision!"

“John, we have no problem with the acquisition, but we need you to show your commitment. We need your sincerity in offering shares in companies like Martin, McDonnell Douglas, and Boeing, and to re-enter the market after it recovers. We don’t want these core industries to be affected, nor do we want to see them taken over by others.”

"This request is a bit too much. You don't really think I would give up all my interests for these two insignificant steel companies, do you? If that's the case, I think there's nothing more to discuss between us. I will fulfill my duty as an American and do my best to help the stock market recover, but I won't hand over the gains. These two steel companies are not worth such a high price. The shares I hold are not so cheap. If you want me to give up these shares, you have to show enough sincerity, otherwise I will not accept it!"

(End of this chapter)