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"Quick News! Express, South Korea accepts the conditions of the World International Foundation to avoid bankruptcy, but experts estimate that South Korea's economy will retreat at least 10 years!" On the streets of XG, the newspaper boys selling newspapers were shouting today's big news loudly.

"This time South Korea is over!" A white-collar worker bought a newspaper and sighed after reading the news above.

Just when Daqian was fighting various lawsuits in the United States, South Korea was in a complete financial crisis. The fuse of this financial crisis was still our Mr. Soros. After shorting Thailand's economy, he changed his target to South Korea and began to toss South Korea's financial market.

Since September, South Korean banks have gone bankrupt one after another. The Korean won fell from 989 won to 1,012 won against the US dollar, and then fell by 1,033 won. After that, it continued to fall for several consecutive days, and finally fell below 1,100 won.

Soon, South Korea's foreign exchange reserves were less than US$10 billion, and the South Korean government could only announce that it would give up control and surveillance of the foreign exchange market, and then the Korean won plummeted, competing with Thailand's some.

Then, all South Korean stocks were falling wildly, one-third of South Korean companies declared bankruptcy, and South Korea finally announced on December 1 that it would accept mediation from the International Monetary Fund and received a $58 billion bailout loan in December.

However, as a condition, South Korea must relax restrictions on free trade and capital account, and reform the labor market and state-owned enterprises. Anyway, it is to reform its own governance according to the will of the West. The entire South Korea has suffered an unprecedented blow, and the development of the previous 10 years has also gone into nothing.

It is worth mentioning that in order to repay the money, South Korea later launched an unprecedented patriotism and self-sacrifice movement.

At the call of the government, one-quarter of the citizens participated in the movement. People lined up to exchange all the dollars and gold in their homes for Korean won. In this way, they helped the country accumulate US dollars and overcome the foreign exchange crisis, so that the $58 billion loan was also clear.

As a result, in less than two months, the government received 226 metric tons of gold and 2 billion US dollars of foreign exchange, which combined to reach a value of US$4.2 billion.

Although these are still a drop in the bucket, these eventually helped South Korea pay off the $58 billion owed loan in August 2001, nearly three years ahead of the original plan, which is also something that countless Koreans brag about for the rest of their lives.

But later the media conducted data statistics and found that the donations were basically ordinary people, while the wealthy families such as Samsung, Daewoo, and Hyundai also donated.

Although it seems to be quite a lot, each family donated about $1 million in foreign exchange.

But these are only one ten thousandth of their entire property, but ordinary people donated almost all of their property, which made many Koreans cry.

Those who make money are those chaebols who end up losing money, but they are humble and poor ordinary people. It is simply sad to put all their property on their behalf to serve the country!

Things in South Korea are causing a lot of controversy around the world, and the entire Southeast Asia is also extremely terrifying about Soros.

On the surface, this is a financial crisis caused by Soros' shorting of the South Korean economy, but in fact, Soros did not do much. He just pushed it lightly, and didn't even push it. He just revealed the idea of ​​shorting the South Korean exchange rate, and the entire South Korean economy collapsed.

In fact, after all, this is a huge problem for South Korea itself. A large part of South Korea's development is based on bank borrowing money, which leads to a very high bad debt rate for banks and many of the banks' loans cannot be collected back.

When South Korea's economy is booming, it seems that it is not a problem.

However, as the economy tightened, the banks were frightened to find that they had no money and mice could run away from the vault. Then, as the news that Soros was coming, many Koreans immediately began to want to convert the Korean won into US dollars to avoid being cheated.

Of course, ordinary Korean people do not have such a keen sense of smell. Those who have such speed are all Korean financial circles, entrepreneurs, etc., so-called elites, such smart people, it is impossible for them to lose money.

But it is precisely because of these so-called elites that Soros had no time to take action that the entire South Korean financial market collapsed, which made Soros very depressed.

Because South Korea collapsed so quickly that Soros didn't have time to deal with it. In the end, he even lost a little money in South Korea and didn't know who to ask for advice.

So, Soros is just the fuse of the collapse of South Korea's economy. He killed everyone, so it was actually the Koreans themselves, and their elites.

However, this fuse has scared the entire Southeast region crazy. Now, Soros is like a devil in the eyes of the financial markets and financial management departments of various countries.

But they can't deal with this demon, and they can't even stop others from reaching out to them, because behind them is the United States, holding high the banner of fairness and freedom.

You can't object, you really think that the big stick of American father is a vegetarian!

So now all countries in Southeast Asia are extremely afraid of Soros, especially in South Korea, which has collapsed. They understand that Soros's gaze will inevitably shift to other countries.

It is said that the relevant departments of Wanwan went to the United States as soon as possible, placing orders of tens of billions of dollars, while Singapore relaxed some restrictions. Anyway, almost everyone was wagging their tails and begging for mercy to the United States, trying to let Soros let them go.

However, their actions are redundant. In the eyes of real people of insight, these countries cannot become Soros' targets because their money is not easy to make.

Soros has only one next goal, that is XG.

For a moment, the entire XG was in panic, and everyone was afraid of Soros' arrival.

But what should come will come after all.

Time slowly entered the second half of December 1997. The American Wealth Magazine was released normally. Customers were surprised to find that there was an exclusive interview with Soros on it. In this interview, Soros first defended himself, saying that he did not promote the financial crisis of Asian countries, but that they had problems with their economy, and they just happened to be the right one, not at all.

This part of the interview looks normal, and Soros seems to be a little uneasy in his conscience.

But the next second, when the reporter asked which other regions in Southeast Asia had economic problems and could be burst at any time, Soros gave a name without hesitation: XG.

In an instant, this XG was silent, and all the people in the financial industry felt that they were bolt from the blue. XG was facing a catastrophe!