Chapter 172 The Concept of Sovereign Wealth Fund
If the previous words only surprised Zhou Ming, then Yang Dingguo's words at this moment made Zhou Ming completely confused. ☆→
Before Zhou Ming could express his doubts, Yang Dingguo said again: "I have listened to your speech at the National People's Congress. I feel sorry for your experience abroad. I also know that you have also visited our consulate in Northern Russia for some things."
Yang Dingguo sighed and said, "In the past, due to some historical and other reasons, we had too little communication with the world, and we were too poor and backward. Therefore, those foreigners looked down on us so much, joked about you not understanding the financial economy, deliberately causing trouble for your Chelf market, and even eventually developed to the point where they united to bully you."
Speaking of this, Yang Dingguo paused for a moment and continued: "But it is precisely because of these reasons that we need reform and opening up more, we need to lead this financial class well, and we need talents like Zhou Ming to help this country grow together. I believe that what you have experienced will eventually be the past!"
After listening to what Yang Dingguo said to him, Zhou Ming was stunned. Only then did he realize that the reason why Yang Dingguo came to him was not because of the foreign Chinese, nor because he had established a correct view of the students in the financial class, but because he had expressed his feelings in Northern Russia.
"You don't have to be so surprised. If the financial class is the hope of the country's future and the target of key training, then you, the class teacher, are the key points, so the country should pay attention to you no matter how much you value it."
Yang Dingguo continued: "And in the past we all knew that you made 100 billion US dollars in Northern Russia, but we forgot what conditions you created this miracle. Just like Zhou Ming, you said, they all thought we were a group of barbarians and scoundrels who only used abacus to calculate others' barbarians and rogues, or thought we could not eat and could not calculate the numbers from 1 to 9. They didn't think we would understand what finance is."
Yang Dingguo took a deep breath when he said this: "These words are a shame to us, but Zhou Ming, you have completed the account opening under such conditions to the point of direct competition with the Americans on the financial battlefield. This is not simple, it is a miracle that cannot be described in words."
"In the past, the country neglected these things, which made you silently bear these things abroad, but please believe that the motherland in the future will definitely be your strong backing!" Yang Dingguo said.
Zhou Ming blushed in the face of Yang Dingguo's praise and assurance. The reason is very simple, that is, what he said is fundamentally different from what Yang Dingguo understood.
As a leader who came from the old society, he also lived abroad. He knew that the Chinese people had a very low status abroad, so he naturally thought that they were still the same as before and believed that they had suffered all kinds of difficulties and humiliations from the United States and the North Russia.
But the fact is not like this. I went there as a partner of the Dota Project from the beginning, and I directly participated in the decisiveness of the collapse of the Soviet Union. I met the current President of Northern Russia directly. Of course, I was later squeezed out of the Dota Project because of this incident. Davide, the head of Northern Russia at the time, also mocked him, but it was only that, and it did not reach the level of humiliation that a hundred years ago.
Later, he mastered a large amount of rubles through the Chelf market, forcing the Northern and Russian government to cooperate with the Dota plan to force the replacement of new rubles.
It can be said that since that time, I have been one of the three groups of Northern Russia's economy. Under this condition, those proud Americans will only face their opponents, so how can they humiliate them?
Needless to say, the last thing is that through cooperation with Maita, the first American financial war expert, he successfully obtained a piece of oil field in Siberia through a transaction with the Northern Russian government. He also set up the other party in this transaction. Mr. Maita moved into the manor arranged by the consulate. This financial war expert who has always served the US president has been at ease with the man who manipulated 100 billion yuan of funds.
Judging from these situations, I was sad for a while in Northern Russia, but it was not as insulted as Yang Dingguo thought.
As for what he said in the lecture, he said it so to inspire his classmates' patriotic enthusiasm. But he didn't know that this was heard in Old Yang's ears. He actually believed it, and for this matter, he called himself into Zhongnanhai as soon as possible.
This is really a bit ridiculous. Zhou Ming wanted to explain, but in the face of Mr. Yang's sincere concern, Zhou Ming really didn't know how to speak. And it seems that Mr. Yang couldn't come to Taiwan after exposing it. Therefore, after thinking about it, it would be better to accept this concern shamelessly.
However, I finally guessed it right. I made 100 billion US dollars in Northern Russia, and I did get the attention of national leaders like Mr. Yang. Although I can't get the 100 billion US dollars and still need to share money with the rich people of Northern Russia, this is finally a huge wealth. Even twenty years later, the leaders of a country must be taken seriously, let alone now.
Just like to prove Zhou Ming’s idea, Yang Dingguo said to him: “You can earn the country’s national income for a whole year by taking action. If you are an official within the system, I must train you to be the future Minister of Finance or the Governor of the Central Bank. It is not an exaggeration to say that you are a national senator!”
Zhou Ming took a deep breath. Even though he overestimated himself since his rebirth, he would never have thought that Mr. Yang would give him such a high evaluation.
The word "National Scholar" may have been used in later novels, but now, especially in Yang Dingguo, who is the leader of the country, it is still a very rare word.
Facing Mr. Yang's look at his expectant eyes, Zhou Ming scratched his head embarrassedly and said, "Old Yang, actually, the biggest advantage of me is business and management. If I were asked to formulate fiscal or monetary policies and argue with other institutions, I would probably make things a mess. In contrast, if I really asked me to do it, I felt that sovereign funds were more suitable for me."
Zhou Ming's words made Yang Dingguo's eyes lit up: "Social Fund, what is that?"
"I think Mr. Yang, you should know about private fund companies?"
Zhou Ming asked this, and Yang Dingguo nodded and said, "Social funds are actually corresponding to private funds. They are also fund investments, but the fund raising has changed from private to state. The state can use foreign exchange reserve fiscal revenue and even resource income as investments in sovereign funds."
"So that's the case, but we are now integrating into the world economic system at a critical moment. Our reforms have made Western countries loosen their economic blockades. If we set up any sovereign funds, will Western countries be wary of us again?" Yang Dingguo asked.
Zhou Ming shook his head and replied: "No, although sovereign fund is still a relatively novel term, many countries around the world have begun to try to use sovereign fund to increase fiscal revenue for their countries."
Zhou Ming thought for a while and continued: "If I remember correctly, the world's first sovereign fund was the Investment Bureau, which was made by Kuwait, a country in West Asia, in 1953. The more famous one is the sovereign fund established by the Western Pacific island country in 1956. Because this island country has a small land area and only one kind of bird guano resources, after the bird guano resources are exhausted, he can only rely on the income of the sovereign fund."
"The most successful sovereign fund should be Singapore's sovereign fund in 1974. This sovereign fund invested 70 million US dollars at the beginning of its establishment. Now fifteen years have passed, and this fund has increased the value of the fund by more than ten times through various investments." Zhou Ming said, "It is precisely because of the success of the fund that more and larger companies will enter this fund this year, which will take the foundation to a higher level. Singapore will also benefit from this fund and use the income brought by the fund to make its country's development a step further."
Finally, Zhou Ming added: "Benefiting from the success of the sovereign funds of Singapore and West Asia, the United States also established several sovereign funds in the 1970s."
After hearing this, Yang Dingguo breathed a sigh of relief. Since the boss of the United States, the Western country, can all engage in sovereignty and funds, then China will naturally not have to worry about any diplomatic pressure.
But the idea was this, but Yang Dingguo still asked: "Do you really think we need to build sovereign funds?"
Zhou Ming nodded and said, "There is definitely a need. After all, with sovereign funds, we can attack around the world, acquire resource companies from other countries, or very important strategic companies, and then invest in these companies to complete the global economic deployment."
"Just like this North Russia incident, if North Russia has this sovereign fund, the United States will launch a financial war against him, and he can counter it, right?" Yang Dingguo asked.
"It can be said that, but I think the biggest function of sovereign funds is to prevent the United States from launching a financial war," said Zhou Ming.
Yang Dingguo clapped happily: "Genius! Zhou Ming, you are really an economic genius. Your ideas are so amazing. I am very glad that you were born like a genius on the land of China. It is in this era of world change. God really blessed me in China!"
Zhou Ming blushed at the title of genius. After all, he could know this, but it was just a memory of his previous life. If he wanted to say that he was so genius, he would not have lived so cowardly in his previous life. Does that really mean that people know how to live only if they die once?
Zhou Ming smiled bitterly in his heart, threw out the things that were not there and said: "Old Yang, but it is too early to say these things now. After all, we have too few financial talents now, and hasty establishment of sovereign funds will only cause unnecessary losses."
Yang Dingguo nodded and said, "That's right, so the students in the financial class need to be held. This important task is entrusted to you Comrade Zhou Ming. You are the hope of the country's future!"
Chapter completed!