Reborn Capital Madman

When an economy is strong enough, its currency will face the problem of internationalization. Whether it is passively accepted or actively responded, it cannot be avoided unless it is closed, completely self-sufficient and does not communicate with the outside world.

Yibian and Japanese yen were in this state during this period. After all, Yibian was in short supply in China, and after the end of World War II, the economic recovery and take-off were now developed and strengthened by export orientation.

The United States is the second largest economy in the world.

In order to make the currency swap agreement between the Hong Kong dollar and the Japanese yen more satisfying his appetite, Gao Xian prepared a bargaining chip that Hong Kong could become an offshore financial center for the Japanese yen. He was almost certain that the other party could not refuse.

It is necessary to explain the background and logic here.

From the perspective of a book, from the 1960s when the Tokyo Olympics was held to the recent early 1980s, the export-oriented economy rose rapidly, and naturally the yen did not want

Appreciation, and then attitude towards promoting the internationalization of the yen, can be described as negative, passive, and cautious.

Too conservative caused Yipeng to collapse in the Bretton Woods system in the 1970s. He caught a little off guard during the first world oil crisis and suffered a lot of secret losses.

So in 1973, the first batch of exchange rate system changed from the official fixed exchange rate system after World War II, that is, one dollar to three hundred and sixty yen to a floating exchange rate system. The first batch of exchange rate was also imported from the country of capital,

Convert to a capital exporting country.

This means that the yen has inevitably moved towards internationalization.

In 1980, Yiben began to implement the "New Foreign Exchange Law", changing the use of the Japanese yen in international trade from "prohibited in principle" to "free in principle".

However, due to the lack of resources in YiBan, it has always implemented an export-oriented strategy of feeding and importing, so being cautious and conservative in the internationalization of the Japanese yen can be considered a tradition.

In particular, the appreciation of the yen that may be brought about by the internationalization of the Japanese yen will have an adverse impact on exports, which is a side effect that can be seen immediately.

In this case, the internationalization of the Japanese Yen is a very popular topic for YiBi, but it must be carefully studied.

In fact, it is not difficult to understand that if a book economy can achieve such brilliant achievements, the elites of the book will definitely not be living a life of life. If they are just living, they will definitely gain the upper hand if they take the initiative to attack.

The "New Foreign Exchange Law" implemented in 1980 is a reflection, which basically realizes the liberalization of foreign exchange business, capital transactions, foreign direct investment and other fields.

However, for the internationalization of the Japanese yen, the first-book elites have limited successful experiences that can be learned from, so they have to take a short step.

You should know that although the internationalization of the yen has many benefits, if you don’t understand it, the side effects will be more than just the appreciation of the yen, which affects exports as simple as it is. In the "old script", an economic bubble bursts, entering a lost decade, or even two

Ten years are the cycle of cause and effect.

This is in line with the truth that everything has its own rules, and too much is just as insufficient; at the same time, things have two sides.

Of course, this has nothing to do with Gao Xian. He just wants to invest in the resources he wants. If you can't handle the side effects well, you can only blame yourself for not being able to do it.

The logic of the yen offshore financial center is that the internationalization of the yen must have a yen offshore market. At present, this mechanism has not been built yet, but this does not hinder it, and it even needs to be piloted to accumulate experience.

.

Banks qualified to operate yen offshore business in the yen offshore market cannot do without financial centers, and it is Hong Kong's turn to reflect its irreplaceable advantages and value.

Then the question arises. What does the internationalization of the yen mean and what exactly does it include?

Generally speaking, the first is the proportion of Japanese yen as the settlement currency in foreign trade; the second is the proportion of Japanese yen as the trading currency in international foreign exchange transactions; the third is the proportion of Japanese yen in international reserve currencies.

proportion.

Gao Xian designed a package of international currency systems for the Hong Kong dollar-related foreign exchange fund, and the Hong Kong foreign exchange reserves, which provide support for the issuance of Hong Kong dollars, have been improved from only US dollars to US dollars, pounds, West Demarks, and Japanese yen.

It is obvious that the "proportion of the Japanese yen in international reserve currencies" of the content of the internationalization of the Japanese yen is involved.

Since the outbreak of the Hong Kong dollar crisis last year, the Xiangjiang Foreign Exchange Fund Administration has been operating successfully for more than a year. Among them, Sir Gao’s intention to actively promote the development of the Xiangjiang foreign exchange market has been recognized by the outside world. From this perspective, the Japanese yen is examined.

The "in international foreign exchange transactions, the proportion of the yen as the trading currency" is also involved in the Xiangjiang Foreign Exchange Fund Administration.

As for the content of the internationalization of the Japanese yen, the proportion of the settlement currency of the Japanese yen in foreign trade is mainly determined by the export competitiveness of the book. However, in the international free port of Xiangjiang, if the Xiangjiang Foreign Exchange Fund Administration is in Xiangjiang

The influence of the financial ecosystem may not be involved in all areas such as currency coverage to securities and banks.

This is the confidence that Gao Xian dared to fool the yen offshore financial center after establishing the Xiangjiang Foreign Exchange Fund Administration.

Facts have also proved that the effect of this bargaining chip is simply irresistible.

Through the Economic Office of the Consulate General of Hong Kong, Gao Xian went to YiBank and YiBank to YiBank, YiBank Province immediately sent officials to Xiangjiang for preliminary communication. The next step was to be achieved, the President of the Xiangjiang Foreign Exchange Fund Administration

The high jazz group led a visit to a book.

The tone of this trip to Tokyo is that there is a guarantee, that is, at least the 100 billion yen Hong Kong or Japanese yen currency swap agreement currently in operation will continue for another year.

As for the scale of the new Hong Kong dollar and Japanese yen currency swap agreement on this basis, and whether it will form long-term cooperation depends largely on Sir Gao's great deception skills.

When the airplane that Gao Xian and his group were on landing steadily at Tokyo Narita Airport, Sir Gao walked to the gangway calmly. At first glance, the scale of the welcome this time became obviously grand. The Lantern of the Minister of the Tibetan Buddhism Takeshita,

Ichibank President Tomohiro Sumida, Ichibank Vice President Yasuhiro Mieno, etc. are among them.

This is rare. You should know that YiBen, the world's second largest economy at this stage, is humble to be a dog in front of Midi, but it does not mean that it is the same for others. This is entirely due to Gao Xian's personal charm.

When Gao Xian walked down the gangway with brisk steps, Zhuxia Lan stretched out her hand with a spring breeze on her face, "Sir Gao, welcome to Tokyo."