Rebirth: Super Banking System

Chapter 2461: Chapter 2299: Absolutely Not

Inside the villa.

“Impressive!” Chai Ren marveled in his heart.

Top ten.

Every country is formidable.

A country that six years ago had hardly any global presence is now rocketing up the charts, breaking records time and again, and is about to enter the global top ten.

Truly impressive.

…

Indeed.

Last year.

Myanmar’s GDP growth rate.

Aside from trade prosperity, another significant factor was the appreciation of the Asia Dollar. Because GDP is first calculated domestically and then converted to USD.

However, it cannot be denied that.

Myanmar’s economy is indeed improving.

Otherwise.

It would not be possible to maintain a trillion-dollar GDP level. Thinking about the Asia Dollar exchange rate, Chai Ren sighed again, recalling the initial pricing of the Asia Dollar.

1:1 exchanged with RMB.

Now.

It’s already 1.3:1, one Asia Dollar equals 1.3 RMB, a rise of 30%. Additionally, there’s still a trend towards further increase.

In the future.

It might reach 1.5:1.

Even.

A 2:1 ratio is possible.

All this.

Is not because RMB is weak. It’s known that the United States has long called for RMB appreciation, believing it’s undervalued and should at least double.

However.

Currency appreciation heavily impacts exports.

Therefore.

The strategy from above has always been steady appreciation. The Asia Dollar is different; although it also depends on exports, the companies dominant in exports are too few.

Myanmar Bank Group, a single giant.

Others.

Only slightly benefit from exports.

Therefore.

Even if the Asia Dollar appreciates, as long as the Myanmar Bank Group isn’t worried about losses, it won’t affect Myanmar’s overall economy, and that’s key.

It can be said.

The Asia Dollar and RMB follow different paths.

…

Asia Dollar appreciation.

From a trade perspective, it means an increase in the price of Asia Dollar goods, Huaxia used to import goods from Myanmar for just one yuan, now it’s 1.3.

However.

Huaxia isn’t worried.

After all.

In bilateral trade.

The Myanmar side’s economic adjustments will minimize these losses with large orders and tax reductions, keeping the impact controlled.

Conversely.

The appreciation of the Asia Dollar benefits Huaxia, which holds the most Asia Dollars, and certainly doesn’t lose out; even if it rises to a 2:1 ratio.

So what?

Sure.

Huaxia travelers may need to spend more, but so what? A bit pricey, so what? This leads to people spending within the domestic tourism industry.

Isn’t that better for Huaxia?

In short.

The appreciation of the Asia Dollar is the trend and also meets expectations.

…

At this moment.

Looking at the data.

Similarly.

India was sour. Last year, only a trillion and thirty billion, this year over a trillion and three hundred billion; at this rate, next year Myanmar’s GDP will surpass India’s.

Suddenly.

Feeling quite gloomy.

More frustrating is the current Asia Dollar exchange rate growth rate; even if Myanmar remains the same next year, converted to USD, it will still rise.

That’s even more discouraging!

Wanting to learn from it.

Sadly.

Cannot be replicated.

Appreciation.

Already sluggish exports would plummet further. Moreover, this isn’t something India can decide, unlike Myanmar where the Central Bank decides the exchange rate.

The Rupees exchange rate is determined by the International exchange rate market, fundamentally different: the former decides for itself, holding the initiative.

The latter.

Is completely passive.

As such.

Countless eyes are eagerly watching the Indian authorities because their data isn’t released yet, and they only hope that the numbers can outshine Myanmar’s.

The more.

The better.

…

Seeing the public so eager.

How could the Indian authorities let them down? The statistics bureau, upon reviewing data from various states, found a slight increase based on last year.

Although.

This data is quite fake.

But.

India just needs to save face. After reporting to the President, the Indian Statistics Bureau immediately adjusted by 1% upwards based on the total of all states.

Sure to outdo Myanmar.

Next year.

Even if Myanmar’s growth remains at 30%, they can just adjust the figures again, ensuring that for at least the next two years, they won’t be “surpassed” by Myanmar, allowing some peace of mind.

And after?

Continual adjustments.

Anyway.

The main use of these figures is for boosting confidence, lacking practical application; at the very least, India can’t lose face too badly.

Moreover.

This term still has over two years, during which time they can maintain face; after that, how the new Cabinet handles things is out of their hands.

“Announce it!”

“Yes.”

…

Thus.

Following Myanmar, the Indian statistics bureau also announced their GDP data.

Then.

“Gulp!”

Among the global community, it barely made a splash before disappearing, making the Indian authorities twitch their mouths, wondering why no one cared?

Looking around.

Everyone’s attention was either on Myanmar’s GDP or on Greece’s referendum on exiting the bloc, and the ongoing Davos Forum.

India?

Sorry.

International media indicated: no interest for now.

After all.

For a great power with over a billion population, just over a trillion USD in GDP, heavily doctored, hardly carries any authority.

In contrast, Myanmar.

In March.

Over four hundred billion USD in orders, solid; massive basic construction projects, solid; nearly overcrowded tourism, solid as well.

All of it.

Leaves no room to doubt the authenticity of its GDP exceeding a trillion USD, whereas India can’t truly compete with this neighboring Myanmar except in population.

So why pay attention?

…

This way.

India’s GDP announcement for last year aimed to regain some face, only to find out that aside from themselves, no one else cared, leaving them rather exasperated.

In the end.

Had to suppress their frustration.

At that moment.

After venting, the Indian President, attending the Forum in Davos, looked up at the French President giving a speech on stage, lost in thought.

On stage.

A speech on the Euro debt situation was ongoing.

“The Euro will not succumb to this.”

“…”

“The Eurozone’s sovereign debt problems will be resolved before the crisis spreads, and Euro Bonds investors will not be forced to bear unbearable losses.”

“…”

“To those betting against the Euro, I would like to remind you.”

“Be careful with your money, because we are determined to defend the position of the Euro. We absolutely will not—please listen carefully—absolutely will not—abandon the Euro.”

“…”

The voice was strong and confident.

Firm attitude.

Of course.

He spoke of not abandoning the Euro, but did not address the Greece debt crisis; both sides are still in a standoff. For France and Germany, Greece is a minor issue.

The Euro is the big issue.

Just like now, the power of the currency can instantly impose financial sanctions on all the people of Greece. Such power, how could they let it go?

The Euro.

Is the consolidation of France and Germany’s power in the European Union.

In the audience.

The President of Greece sneered.

Defending?

Isn’t it all about this financial power, freezing a country’s capital flow instantly? When Greece joined the European Union, it was on the surface a façade crafted by Goldman Sachs.

But.

The European Union was fully aware, absorbing Greece not to expand EU power, and these people aren’t so easily fooled!