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Chapter 739: Chapter 641: No Limit (Seeking Subscriptions!) _2
"Good, there’s another thing I’m not sure whether it’s true or not. I would like to confirm it with you." Sun Jiang began to discuss the main topic.
"Please go ahead." Four words popped out of Ling’s mouth.
Sun Jiang really felt like he was talking to a Huaxia person.
"I heard that you’ve persuaded President Lang Cai to borrow RMB from Huaxia for Myanmar’s economic and infrastructure development, is it true?" Sun Jiang queried.
News travels fast. This news has already spread fast across Yangon.
What’s more important is
he’s been invited to several meals due to this, and a lot of people have been trying to cozy up to him.
They hope that he can put in some good words to Huaxia. Even though Sun Jiang has no power to decide or even participate in the discussions, his opinion is very important, especially when decisions are being made.
After all, Sun Jiang’s position is not low-ranking either.
He is a deputy bureau-level official, not a small fry, and his positioning is quite special.
Ling nodded and said, "Indeed, Myanmar’s economic development has been stagnant for years. Seeing Huaxia’s robust development, I hope to take Huaxia as an example so Myanmar can also embark on the path towards industrialization.
However, due to Myanmar’s limitations, they need external assistance, and thus, I proposed to borrow from Huaxia."
Sun Jiang quickly replied, "Thank you for your trust in us, Deputy Leader Ling. Our domestic side is also aware of this and views it seriously. If Myanmar formally passes this loan agreement and if Deputy Leader Ling has time, we cordially invite you to visit Huaxia."
"Alright, no problem. Once we reach an agreement here, I will accompany President Lang Cai to Huaxia." Ling said. With such large stakes and him being a major guarantor, it would be impossible for him not to be involved.
Sun Jiang then asked, "We are very welcoming. Just about the specific loan amount, you decided on 80 billion RMB, right?"
"Yes." Ling nodded.
"Can you confirm that this is the final amount?" Sun Jiang asked cautiously.
"No, this amount is my bottom line. From what I heard, they are pushing for a higher amount. I guess it’s already over at least 120 billion RMB. I will know the exact amount at tomorrow’s meeting.", Ling replied.
Tomorrow is November 1st, the decision-making time for the loan agreement. In fact, Ling already knows that their total amount is not fixed but is fluctuating between 120 to 170 billion.
President Lang Cai’s 50% is their bottom line in their view.
After all, no one will waste it. If there’s not enough, they will add to it. If it’s sufficient, they still want to push it to the limit. Therefore, Lang Cai wanted to strangle someone...Finally, barely in time, Lang Cai agreed to this fluctuating plan.
Now meetings of various sizes are being held, trying to persuade Ling to agree to this minimum amount of at least 120 billion RMB.
Now the main point is Ling’s opinion.
Firstly, Ling is the provider of the collateral.
Secondly, Ling is the initiator of this proposal.
The most critical point is, Ling can refute any of their ideas with data. They now fully understand Ling’s rigor and debating ability - absolutely do not argue with Ling on data and economy.
That’s asking for trouble.
"So, what is the maximum limit for you, Deputy Leader Ling?" Sun Jiang asked carefully. Speaking frankly, for a mortgage loan, not a credit loan, there’s no upper limit from Huaxia’s side.
Having no upper limit doesn’t mean they will lend you a trillion if you ask, that’s impossible. But it means your bearable upper limit, Huaxia can lend up to 200 billion RMB. Any more than that, Myanmar would have to pledge its assets.
Since this loan is not in USD.
There’s no pressure for Huaxia to lend since they printed it themselves. Besides, it can create domestic employment, consume goods, and boost economic prosperity etc. In other words, this is Huaxia’s largest loan in RMB to foreign countries.
If it succeeds.
It means that RMB’s position as a settlement currency within the region has significantly improved.
This is really a face-gaining success.
Sun Jiang’s intention to clarify this is to understand Ling’s determination. If Ling is dead set on 80 billion RMB, Sun Jiang’s task is to let Ling increase the amount as much as possible, but not to exceed the limit of 200 billion.
"Oh? What do you mean?" Ling asked with an ambiguous smile.
Seeing this smile, Sun Jiang knew that he’s been seen through.
"This is it - we hope that Deputy Leader Ling could increase the loan limit. I know you agreed to provide half of the collateral, but the debt is still to be repaid by Myanmar. Therefore, we hope you can borrow more, we can earn some interest, and Myanmar’s economy can also develop quickly."
Sun Jiang’s rhetoric sounded grand, but perceptive individuals would only hear one phrase:
Borrow more.
Sun Jiang knew that Yangon wanted to raise the amount desperately, while Ling was holding it back.
Out of the blue, Ling chuckled: "You can rest assured about that. This time, the collateral we’ve prepared internally has already reached 65 billion RMB. I believe it should be sufficient as long as it does not exceed 130 billion RMB."
"Deputy Leader Ling, I have a proposal. If Yangon’s loan amount is below 130 billion RMB, we’ll follow your plan. However, if it exceeds 130 billion RMB, but is below 200 billion RMB, we hope you can agree to part of it too. About collateral, there’s still room for negotiation.", Sun Jiang said earnestly, staring at Ling.
He wouldn’t normally pursue this, but since he’s met Ling, this is an additional flexible task assigned from the domestic side, which means it’s not necessary to complete it, and too much is as bad as too little.
Listening to Sun Jiang’s words.
Ling pretended to fall into deep thought.
This matter is beneficial to Huaxia and helps elevate the international position of the RMB. It is also beneficial to Tang Qing, but Ling still hesitated intentionally. He couldn’t just agree readily. He shouldn’t appear too eager.
Ling remained silent.
Sun Jiang and the others anxiously waited. Technically, Meng Fan shouldn’t know about it, but since Meng Fan has a background and he will soon take over Sun Jiang’s role, having this knowledge is not an issue.
One minute later.
Ling’s brows relaxed.
"Mr Sun, I agree. No matter how high their loan amount proposal is, as long as it’s not more than 200 billion, I will agree. I also guarantee that I won’t make them suspect anything." Ling agreed.
"Thank you, Deputy Leader Ling." Sun Jiang happily replied.
"Heheh, it’s a win-win situation. I have one condition though." Ling began with a sudden chuckle. This is something Tang Qing is happy about, but Sun Jiang was unaware. Ling couldn’t forget about his interest in this.
"What condition?" Sun Jiang asked out of curiosity.
"Allow Myanmar Bank Group’s companies to invest in Huaxia."
...
PS: I would like to recommend a book by my friend titled "The Big Hoax of the Industry", it’s currently on recommendation. I would like to ask you, my dear readers, to add it to your collection, to help Mouse, this good friend of mine, increase his collection. Many thanks to everyone.
