<h4>Chapter 1893: Chapter 1718: Holding Steady</h4>
The next day.
The news spread out.
"What?"
Bluem was stunned for a moment.
Buyback?
Such an operation.
What kind of thought process is this? When it’s time to tighten up, you release funds instead.
However.
It can be considered a ’righteous act’, which sends a signal that helping Ling with tasks will not be done in vain; those who should be taken care of, will be. It feels rather impulsive.
On second thought.
It’s actually not a big deal.
After all.
Most of these buybacks are loans from the Myanmar Bank Group, which means the funds that ran off already got their money and withdrew before. These debts do not require the Myanmar Bank Group to pay.
It’s just about writing off the debts from the bank.
Over one hundred billion U.S. dors in foreign exchange.
Now reduced to around twenty billion.
Almost reaching the bottom.
The fleeing funds nearly amounted to a trillion Asia Dors, yet they managed to keep the exchange rate stable. Bluem had to admire Ling’sposure, whichpletely disregards economic principles and general central bank currency policies.
His power.
On thisnd, it truly shields everything.
"s!"
Bluem sighed.
Honestly.
At this point.
Bluem also feels a bit troubled.
In most countries, in such situations, there are usually more people kicking others when they’re down. When it’s dry andbustible, just one spark could set the entire forest aze and achieve their aims.
However.
Here it is different.
The development here has not mainly relied on foreign investment but has generated ie through their own technology. In a short period, Ling has greatly enhanced welfare, quality of life, and various aspects here.
Therefore.
They do not envy the United States, nor do they envy developed countries. On the contrary, seeing tourists from all around the world flocking here, whether ordinary people or entrepreneurs, don’t show much interest in fleeing.
Through the Myanmar Asia Chamber of Commerce.
Interests are intertwined.
Uniting the backbone entrepreneurs.
Furthermore.
There are no pro-European and Americanmercial, political, or military forces with a say here.
The intelligencework is nearly non-existent.
Inte.
News.
All are regted.
Piece by piece.
Item by item.
Building up.
Making the waters here really hard to muddle, many methods simply don’t work, and ordinary impacts cannot shake the foundation. If it truly fails, it’s not without gain.
It could show everyone.
Here.
There is a formidable fortress that must not be allowed topletely grow. As a result, the higher-ups will naturally pay more attention to the work here, and his status might also rise correspondingly.
He spectes.
In the next three to five years.
If the situation remains the same, the United States will definitely take strong action.
...
"Very righteous."
"Indeed, Ling won’t let us down."
"Buyback is good."
"It’s just a bit hard to let go, many assets were formerly in foreign hands; if now acquired and buyback happens, it willnd in the Myanmar Bank Group’s hands, and I estimate it won’t flow out again."
In this region.
Nobody believes the Myanmar Bank Group willck funds and sell assets.
Thus.
They are quite conflicted.
"I think for those better-quality assets, we should still hold on to them; anyway, there’s no rush to repay this loan, keep some, pay some. This opportunity can’t be a waste of effort."
"Makes sense."
"Good idea."
"Moreover, we don’t necessarily have to pay back the Myanmar Bank Group; if within the chamber, other members want to expand their business, we could transact with them, thereby making full use of the assets."
"Rather than handing everything over to the Myanmar Bank Group, which they probably wouldn’t care for, we might as well internally digest it first. This way, it also reduces the management difficulty for the Myanmar Bank Group."
"Okay."
"Indeed we can’t just throw everything at the Myanmar Bank Group; we need to share the burden."
"Mmm hmm."
"..."
Soon.
The members of the Myanmar Asia Chamber of Commerce reached a consensus—first internally digest a portion, cater to needs, and then consider selling to the Myanmar Bank Group. This way, it benefits both themselves and Ling.
Thus.
On this day.
The buyback funds were merely a bit over ten billion.
The next day.
Even less.
The third day remained the same.
Foreign investors rarely invest in bad projects, thus ensuring quality. Now, they truly got a bargain, and those who sold looked back to find the prices had not dropped as expected, instead going green in face.
Damn.
Where is the promised decline?
Where?
After others took over, not to mention a decline, even the trading market disappeared, as they were not selling at all, hence there was no decline. At this moment, no one especially cares about their distress.
Fence Sitters.
Life or death, what does it matter?
...
October 1st.
After several days of bustle, the chamber’s internal project transactions were basicallypleted, all were pleased. Through this move, members acquired more high-quality assets, as long as they unite, there’s no fear of turbulence.
At this point.
The foreign exchange reserves dropped again.
However.
The Myanmar Central Bank simply ignored it; even with reserves falling to just over a hundred billion dors, a tenth of what it was a month ago, they stubbornly kept the exchange rate stable, stating it would not depreciate, thus it did not.
By now.
Attempting to impact the Asia Dor exchange rate, the only method would be to drain this hundred billion-plus dors. However, those who wanted to run have all already left, and those who don’t see the resolve Ling has to stabilize the Asia Dor.
Logically.
If a few morerge enterprises ran away.
That could exhaust it.
Unfortunately.
None can be found.
The Myanmar Bank Group controls the economic lifeline of the Myanmar Economic Zone. After Ling came to power, he supported and strengthened state-owned enterprises, meaning the economic main body of the state is firmly in his hands.
Coupled with the Myanmar Asia Chamber of Commerce.
At this moment.
No internal economic forces exist that can consume this ’little bit’ of funds.
Thus.
Just like that.
With extremely limited foreign exchange reserves, they stabilized the Asia Dor. On this day, the Myanmar Bank Group’s Zhiya Natural Science Research Center announced that the alternative product of the Duha Biological Research Institute proved effective.
In an instant.
The outside world was in an uproar.
...
Shanghai Stock Market.
Vi.
Today is National Day, schools are on holiday. Tang Kai, having just finished internal exchanges, returned to Huaxia and went directly to Tang Qing’s ce, nning to stay a few days, mainly to calm his nerves.
This past half a month.
Has been quite tense, deeply fearing the copse of the Myanmar Bank Group’s Business Empire. Up until today, there’s still a bit of unease, seeing the over hundred billion-dor reserves, it’s quite intimidating.
His worth is more than this.
Previously.
To prevent the copse of the Asia Dor.
He also made efforts.
Like selling fruit wine, jewelry, and others overseas to acquire foreign currency and transferring arge amount back to Myanmar, exchanging for Asia Dors. ording to statistics, the members transferred back foreign currency exceeding two hundred billion dors.
There’s no choice.
Few members conduct international business.
Thus.
A real gamble.
If the Asia Dor couldn’t hold, their losses would be significant.
"What? Really?"
Seeing the news.
Tang Kai’s face showed surprise.
Truly.
What kind of y is this? For a moment, he couldn’tprehend it. Logically, even if thepetitor’s alternative product works, as apetitor, you don’t have to personally publish a statement to authenticate it, right?