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Chapter 1006: Chapter 883: Dollar Loan (Subscribe please!)
United States.
That very night.
This news had already become the absolute headlines.
With such heat.
It was estimated to trend for several more days, for the first time, this was the first such major aircraft carrier construction accident in the history of the United States, yet, it did not make the American public too sad.
Instead, most enjoyed the spectacle.
Mainly because there were no casualties, at most, many people were scared.
Over the years.
The United States had always had the most.
And the strongest aircraft carriers in the world, so in the eyes of the public, having one more or one less, or even a few less, did not affect the status of the United States; if one was damaged, it was just a case of it being commissioned a few months late, no big deal.
After all, we have plenty of aircraft carriers.
Plus, this accident was definitely the shipyard’s issue.
The United States government would definitely not foot the bill for this accident.
In other words, this fine had to be borne by the related companies; capitalists being fined was of course good news, you’ve been earning so much money normally, it’s about time you coughed some up.
Just like that.
The bad news for Grumman Corporation.
Was enjoyed with great interest by the American public as if it were entertainment.
Other countries felt the same, the more sensational the news, the better the entertainment, many countries that had suffered at the hands of the United States were overjoyed as if it were a holiday, cheering and feasting.
Huaxia.
First thing in the morning.
Many people felt a bit lighter on their feet.
...
Grumman shipyard.
The joint investigation team, comprising the United States Department of Defense, the CIA, the Senate Committee on Security Affairs, and relevant technical experts, was stationed there; the whole shipyard was sealed off to begin the accident investigation.
After three days of technical restoration and identification.
The conclusion was the same as the accident cause reported by Grumman Corporation.
Equipment electrical aging was the direct cause.
There were no human factors involved.
Subsequently.
A fine of one point seven billion dollars was dropped on Grumman Corporation’s head.
The shipyard was stopped for a month, even the construction of the adjacent nuclear submarines was halted to eliminate potential safety hazards, then they had to resubmit the safety production plan report which, after review by the expert group, would allow work to resume.
This made General Electric quite happy for a moment.
Peers are rivals.
Because of this accident.
In the future competition for United States warship construction orders, they would have something to say; who told you to have an accident, lobbying had already begun for the third batch of Virginia-class strategic nuclear submarine procurement contract bidding.
General could definitely put pressure on Grumman.
With this order of over one hundred billion dollars.
General planned to carefully plot how to take a big bite; in United States nuclear submarine construction, there were only two competitors, General and Grumman, and a small issue with one would certainly benefit the other.
...
May 27th.
Mozambique.
Capital.
Maputo.
A delegation of ten arrived at Maputo Airport, and upon disembarking, the Minister of Finance of Mozambique was there to receive them personally, escorting them to the Presidential Palace.
After discussions lasting half a month.
The Government of Mozambique found the proposal from the Myanmar Bank Group quite appealing.
After all, the more debt, the less worry.
One way or another, Mozambique would not lose out, it could always pay with its mineral deposits, so two days ago, they invited the Myanmar Bank Group to formally start negotiations.
Currently, Mozambique’s financial situation had reached an extreme low.
We need a powerful tonic to alleviate the pain, although their financial condition has never been good.
The entire population of Mozambique is just over twenty million people.
The economy is primarily based on agriculture.
Ken Locke usually has plenty of free time, but this time, to expedite the matter, he decided to personally negotiate with Myanmar Bank.
The Presidential Palace.
Conference room.
Timing was carefully planned.
Ken Locke arrived at the door with a large group of officials from relevant departments. They had barely stood for half a minute when they saw the delegation from Myanmar Bank Group. Young was the first impression that came to Ken Locke’s mind.
But then again, it wasn’t surprising.
Of course, one would thoroughly investigate a potential partner before cooperation. Ling was not very old to begin with, and it was normal for him to employ many young people. The delegation was led by the deputy governor of Myanmar Bank, who was also, of course, a Fighter.
After several rounds of bland welcomes and introductions.
Both parties sat at the table.
"We are very interested in your loan proposal. Mozambique can list the Asia Dollar as a reserve currency and can also issue a bank license to Myanmar Bank. However, in the aid loan...
"I hope that the limit can be raised, and the currency cannot all be Asia Dollars. Our opinion is that there should also be a part in U.S. dollars," said Ken Locke as he opened the discussion.
He threw out the core interests of the entire negotiation right off the bat.
"President Ken Locke, in terms of our credit guarantee provision, you can purchase some goods and services in U.S. dollars, which we will pay on your behalf. This provision seems to have no point," said the deputy governor Fighter dispassionately.
Ken Locke thought for a moment.
He still felt it was best to tell the truth.
"I think you should also be aware, Mozambique has a lot of government debt. We have a U.S. dollar debt that is about to mature—not much, just 1.3 billion U.S. dollars. As long as your loan helps us repay this maturing debt, we will agree to all the conditions you have proposed."
Years of trade deficits.
Had nearly depleted Mozambique’s foreign exchange reserves.
In recent years, to foster development, Mozambique started borrowing internationally. But debts must be repaid. If the debt was domestic, they could simply print money to settle it, but they could not print U.S. dollars to pay off foreign currency debts.
What was crucial.
Mozambique was actively applying for a loan from the International Monetary Fund (IMF).
If they defaulted on such a large debt during this period, the approval of their application would become indefinitely delayed. As for the World Bank loan application, they had already given up hope since that small amount of loan could hardly quench their thirst.
This news.
Was quickly relayed back to the Command Room.
And received Tang Qing’s approval.
The Fighter made a show of phoning the headquarters to report, leaving Ken Locke somewhat anxious, fearing the proposal might be rejected. He had previously planned to obtain this money through several oil companies.
But the trade deficit of the nation had again consumed a portion of the funds.
At the beginning of last year.
Ken Locke had just taken office.
In search of resources.
He opened up his coastline to international companies right after assuming the role.
From last year to early May this year, three companies had obtained rights to explore that coast: Anadarko Oil Company, Italy’s Eni oil group, and Malaysia’s national oil company.
Currently, the three companies were exploring.
No good news had yet come, and Ken Locke was preparing to open up extensive domestic mineral deposits for development, hoping to raise some money. However, he was aware that the effects might not be as good as expected.
Because many African countries have minerals.
Now that Myanmar Bank Group had appeared.
And showed interest in their domestic mineral deposits, Ken Locke took it very seriously. What he didn’t know was that the real motive of Myanmar Bank Group was not the minerals, but something related to currency.
"We can lend this amount in U.S. dollars, but with two conditions. First, the repayment of this U.S. dollar amount must be made using Asia Dollars. Second, allow subsidiary companies of Myanmar Bank Group to invest in other industries in Mozambique and enjoy the greatest tax and policy incentives," answered the Fighter.
Ken Locke was overjoyed at this.
As long as he had the funds, these were minor issues. Attracting business investment was already great news.
So.
The negotiations that followed went smoothly.
Clause by clause was discussed, and details were voted on by show of hands. In just a few hours, the entire agreement was formed, leaving even Tang Qing somewhat dumbfounded.
He had expected these high-stakes negotiations to last four or five days.
Indeed, money talks.
