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Chapter 838: Chapter 728: Convert Everything to Asia Dollars (Subscribe please!)_3
Tang Kai asked again.
His relationship with Ling was now essentially that of grasshoppers on the same rope—shared glory for both parties. Plus, being one of the members of the Myanmar Asia Chamber of Commerce, outsiders saw him as one of Ling’s staunch supporters and important partners.
Therefore.
During this time.
To avoid making the situation of the Asia Dollar "worse", Tang Kai kept all the Myanmar Kyat he had, which made him angry because those families in Myanmar were eagerly exchanging their Kyat for Asia Dollars to preserve their value.
This kind of "kicking someone when they’re down" behavior was making Tang Kai extremely anxious.
But Ling acted as though nothing had happened, maintaining this growing exchange rate loss. Tang Kai watched anxiously and even thought about talking to Ling about restricting the exchange of the Kyat.
"Uncle, if you have Myanmar Kyat, it’s still better to exchange them for Asia Dollars as payments every day. Asia Dollars aren’t stupid, they certainly won’t dig their own graves. If they exist, they’re justified. The trend of the Kyat’s devaluation can’t possibly stop. The longer you hold onto it, the greater the loss you’ll suffer," Tang Qing advised his uncle without hesitation.
After all, one more person wouldn’t make a difference,
and the more, the merrier.
These exchanged Kyats weren’t just sitting idle in the Myanmar Bank; that would be impossible. Tang Qing’s purpose was indeed to make the Kyat devalue drastically. If they were immobile, wouldn’t that just help the Myanmar Central Bank reduce liquidity?
If the amount of Kyat in the market decreased, the pace of the Kyat’s devaluation would naturally slow down.
This was not in line with the Asia Dollar’s strategy.
So,
the collected Kyats would be given to subsidiary companies in the form of loans, allowing them to build a large number of factories in Myanmar or acquire mineral deposits and other natural resources, thereby increasing the Kyat’s liquidity "brick by brick".
Enhancing its rate of devaluation.
Although the profits from this part of the investment would be devoured by the devaluation of the Kyat,
Tang Qing didn’t need to make money this way. It was more important to push the Kyat into the abyss first. After repeated investments, this part could eventually amount to hundreds of billions in RMB exchange rate loss, which Tang Qing could still afford.
After all, he didn’t have to pay out of his own pocket.
The currency self-circulation of the Myanmar Bank was sufficient to carry out this plan.
This was also thanks to its massive industrial support foundation and unique issuance model; otherwise, such a strategy would be unplayable.
"Alright then, I’ll have them exchanged for Asia Dollars when I get back," said Tang Kai, reassured by Tang Qing’s confidence.
His guilt reduced substantially, especially since holding onto the Kyat during this period had already caused him to suffer an exchange rate loss of more than 1.5 billion RMB. Of course, it hurt, and it seemed like the right time to stop the loss.
Tang Kai was worried,
but Liu Qian beside him was not.
Because, as things stood, he didn’t have too much money in the Myanmar Economic Zone.
Unlike Tang Kai.
With a construction company, a jewelry company, fruit wine, as well as his electric vehicle industry subsidiaries, the amount of Asia Dollars he handled, including the volume of Asia Dollar transactions, could be termed colossal if considering sales within the Myanmar Economic Zone.
Combined, Tang Kai’s enterprises could rank within the top three.
"Younger brother, can the Asia Dollar be trusted? Why don’t you also prepare an exit strategy and exchange some Asia Dollars for RMB or even US dollars? I may not know much about finance, but having two currencies in one country, with one depreciating and the other daring to maintain its value, denotes they’ll face astronomical losses in the future. Given the size of the Asia Dollar, I feel it cannot sustain the volume of the Kyat," said Tang Kai’s father all of a sudden.
Tang Qing was taken aback.
Was his dad trying to undermine his son?
"Dad, how could you say something so... professional?" Tang Qing exclaimed in surprise.
Tang Kai’s father blushed, feigning depth, "My child, don’t I have the right to improve? I read about this online after following some news about Myanmar. There was a report that said so, and it also mentioned that, at this rate, once a bank run occurs, the Asia Dollar will undoubtedly collapse."
Tang Qing was speechless.
Those online "naysayers" really looked down on the Asia Dollar.
But it was also understandable.
Without knowing the strategy behind the Asia Dollar, the technology of the subsidiaries of the Myanmar Bank Group, the issuance model of the Asia Dollar, or the extent of the Fighters’ layout in Myanmar,
ordinary people would definitely come to such a conclusion from the existing economic phenomena.
But,
they were just talking nonsense.
Just like with Huaxia’s economy.
Countless Western economists predicted the collapse of Huaxia’s economy, but over the past decade, and for the decade to come, Huaxia’s economy will continue to grow rapidly, leaving their faces swollen and red.
