Rebirth: Super Banking System

Chapter 873: Chapter 758: Helplessness from Afar (Subscribe Please!)

He stepped out of the towering building of Comet Film and Television.

Looking back at the skyscraper that reached into the clouds.

Tang Qing shook his head.

He truly disliked these high-rise buildings of tens or hundreds of stories.

Only in big city areas where every inch of land was like gold would such structures be built. If it were up to him, Tang Qing would rather build ten or twenty office parks with about twenty stories each, all differently designed, than a single skyscraper with two hundred floors.

Is squeezing together really that much fun?

Tang Qing pursed his lips.

He turned and headed to the parking lot.

Today, he had driven himself here, and it was just a few days ago that he had received his driver’s license, securing his legal qualification to drive. Fortunately, the drive back home was smoother than the one coming here.

...

Just after Tang Qing finished his morning meeting.

On his solo drive back home.

In the distance.

Myanmar.

Neipyidaw.

After several months of relocation, the capital of Myanmar had finally moved here. Yangon had completely turned into an economic hub, but it remained the largest city in Myanmar. It might take years for Neipyidaw to catch up.

However, people like Lang Cai had confidence.

With such substantial investment, this new capital would eventually look the part. Every morning, on his way to work, seeing the buildings spring up by the road, Lang Cai felt a surge of excitement and found the work very meaningful.

But.

This huge investment.

Was now bringing new troubles for Lang Cai.

When they were poorer, people spent money cautiously, and they could make do with their frugal lives. But now with sudden wealth, many started spending lavishly.

Especially after seeing the initial drafts of the annual financial budget submitted by various departments.

Lang Cai felt an urge to strangle them.

Since last year when they had borrowed one hundred and sixty billion RMB from Huaxia.

The departments in Myanmar had begun frantically consuming this substantial fund.

Transportation, urban construction, manufacturing, education, medical, electricity, communication, energy... One major project after another was established, and Myanmar’s GDP in the last two months of last year tripled the total of the previous ten months.

This massive investment.

The changes were obvious.

All of Myanmar had turned into a huge construction site.

A large number of rural workers were attracted to the city by high wages, becoming construction workers, engaging in business, or seeking other jobs. The data collected from the departments showed that Myanmar was experiencing unprecedented development.

This rate of development.

Excited Lang Cai greatly.

But watching the loan being consumed continuously.

Lang Cai’s excitement dissipated by half, and then seeing the depreciation rate of the Myanmar Kyat, his excitement dissolved by another half. Finally, after seeing the financial budget of the departments, Lang Cai had nothing left to be excited about.

Because he realized.

The Myanmar government could no longer afford to spend so much money.

You see, the loan of one hundred and sixty billion RMB had already been earmarked at the start, since the departments had submitted their budget requests before borrowing from Huaxia. Once the loan was obtained, it was just a matter of distributing it according to plan.

Though one didn’t need to allocate it all at once, there wasn’t much room to maneuver this money

Because funds were urgently required everywhere.

But this year.

This part of the financial budget was completely over the mark, far exceeding the sum that should have been allocated.

Lang Cai seemed to understand something, and that was the wildness of the departments. This wildness wasn’t ambition, but a recklessness about printing money. Previously, the issuance of Myanmar Kyat was regular and the currency value was relatively stable.

It maintained the status of being a ’super high denomination’ currency, which many countries rather disliked.

But this time.

With the one hundred and sixty billion RMB loan in place.

The Myanmar Central Bank was zealously running the printing presses, greatly expanding the supply of base money.

If it were any ordinary country, it might not matter much, since the more money printed, the less valuable it becomes. Local citizens and businesses, even government employees, would be displeased, significantly curbing the government’s idea of printing money and deterring them from acting recklessly.

Lang Cai’s plan this time was to devalue the Myanmar Kyat drastically in one go.

Then, by leveraging the difference between industrial and agricultural profits.

He aimed to increase the income of workers, encouraging farmers to move to cities for work to compensate for the devaluation of the currency they held, greatly improving aspects of medical, educational, and transportation facilities in life, eliminating the resentment in people’s hearts due to the part of the exchange rate loss.

Generally speaking.

As expected.

The devaluation of the Myanmar Kyat.

Would not overly stimulate the social contradictions in Myanmar.

After all, as long as there was a workforce, people could earn money in the city and enjoy various conveniences, enriching their material life significantly; the minor losses in bank deposits would not hurt the populace too much.

Myanmar could smoothly get through this period of significant devaluation of the Myanmar Kyat domestically.

After that.

With proper economic adjustments, it was possible to rebuild a stronger economic vitality in Myanmar, slowly progressing towards modernization and stepping on the path to revival.

All these Lang Cai had envisioned beautifully.

But now.

An "ultimate buyer" appeared.

The Asia Dollar.

It shifted the ’pain of printing money,’ which should have been felt by both the populace and various government departments.

Previously, Lang Cai did not realize this point and only thought Ling was foolish. When the Myanmar Kyat stabilized, a massive exchange back to the Myanmar Kyat would severely strike the Asia Dollar system, causing heavy losses to the Myanmar Bank.

Even destroying the Asia Dollar, making it permanently weak, was an absolutely delightful thought; Lang Cai felt he held this chip very firmly.

Until he saw the report in his hands.

Lang Cai suddenly realized.

The Asia Dollar had ’taken over’ the devaluation risk of the Myanmar Kyat and also eliminated the ’devaluation pain’ for all interest groups and government departments in Myanmar, even providing these groups and the populace a ’safe haven—the Asia Dollar.’

So then.

Who would care whether the Myanmar Central Bank would print money crazily again?

After all, they had the Asia Dollar as a fallback.

This outcome.

Made Lang Cai a bit panicky.

When people have nothing to fear, what they can do, he had already seen it — right in this report. The departments no longer cared whether the Myanmar government had money but were all focused on the Myanmar Central Bank’s ’printing money’ prospects.

After all, just one mindset.

No money.

Just go and print it.

.....

An hour later.

Myanmar.

The new Presidential Palace in Naypyidaw.

Heads and deputies of various departments were all summoned by Lang Cai.

Lang Cai knew.

If he didn’t contain it now.

What Myanmar’s economy would face would not be soaring heights, but uncontrollable turmoil. He wasn’t sure if this was all orchestrated by Ling, but even if it were, he couldn’t find any evidence, nor could he do anything to Ling, because these budgets had nothing to do with Ling at all.

The budgets were entirely made by Myanmar’s own departments.

In other words.

This potential crisis.

Came directly from the internal interest groups within Myanmar, and only indirectly from the Asia Dollar.

In the conference room.

Heads of Myanmar’s departments were chatting cheerfully, discussing the smooth implementation of various plans and the bright future of Myanmar, but only they knew in their hearts, another future for themselves too.

This feast.

All present and the interest groups behind them were beneficiaries.

Thus.

Their audacity grew.