1979, Manager Kim is Inheriting Dictatorship! - Chapter 93
Only Krnovel
Episode 93
The effects of the establishment of the AEU appeared much faster than expected.
The first contact came from the world’s largest crude oil producer.
The one who contacted us was none other than Crown Prince Abdullah.
Crown Prince Abdullah.
He was the younger brother of King Fahd and the man who wielded real power in Saudi Arabia in place of King Fahd who was effectively unable to perform his duties due to illness.
He was the absolute ruler of the Middle East who did not even fear the US President, and he was the first to contact them and propose that some of the crude oil trades with Asian countries be done in won.
“How about conducting about 20% of transactions in won for the next two years as a test? We also want to try conducting transactions in won instead of dollars.”
Although it only accounted for 20% of crude oil trade in Asia over a two-year period, it was significant.
Perhaps Saudi Arabia intends to accumulate some Korean won as a hedge rather than to challenge the US dollar hegemony, but other countries simply do not see it that way.
Because the dollar trading of crude oil was a signal that cracks were beginning to appear in the dollar’s hegemony.
One of the reasons the dollar had such a strong hegemony as a reserve currency was because crude oil transactions could only be conducted in dollars.
Of course, the basis for the crude oil transaction being conducted solely in dollars was the overwhelming gold reserves of the United States and its overwhelming military power, which was called the world’s police force, but the biggest reason that realistically maintained the value of the dollar was that crude oil transactions could only be conducted in dollars.
‘We’re good.’
There was no reason to refuse.
There was no reason to refuse as it would further solidify the value of the won.
“Okay. We will have to talk to other countries, but at least Korea will do it.”
Crown Prince Abdullah answers with a hearty laugh.
“If Korea does it, won’t other AEU countries follow suit? Hahaha.”
* * *
[Saudi Arabia wants some of its crude oil exports to Asian countries to be denominated in won. – KNBS News]
[Is the Dollar Hegemony of Decades Beginning to Collapse? – WOLF News]
[Saudi Arabia’s real power holder, Crown Prince Abdullah. What is the background to his choice as the real power holder in Saudi Arabia? – YBC]
At this point, every country in the world has realized who America’s rivals are.
America’s rivals were no longer Russia, China, or Japan.
America’s only rival country was South Korea.
* * *
Russia sold that large piece of land to Korea and made a huge amount of money, but eventually declared national bankruptcy.
“Mr. President, starting next month, there will be no salaries for central government officials… … .”
Yeltsin wraps his head.
Certainly, just a few years ago, Russia thought it could rise again with the money it received from Korea.
But when I came to my senses, the money I had already received from selling Russia’s territory in Korea was zero.
Yeltsin was a traitor who had failed economically and sold out his country, and his approval rating was stuck in the single digits.
And taking advantage of his missteps, a new political newcomer, Putin, was rising to prominence.
We tried to borrow money from Korea somehow, but Korea’s wallets were not open at all since the establishment of AEU.
If he wanted the money, he would have to sell the territory in Siberia, but no matter how he thought about it, that was impossible.
Now he was left with virtually only one option.
“Whew, please prepare a press conference. I will announce that I am resigning from the presidency.”
The secretary looks surprised, but soon nods.
Because he now knew that this was the only way.
“… Okay. I will prepare a press conference tomorrow morning.”
National bankruptcy, political turmoil, and weakening influence over neighboring countries.
Russia is no longer a hegemonic power like the Soviet Union once was.
It was just a large, poor country.
This national bankruptcy was created entirely by their own problems and had nothing to do with the foreign exchange crisis that originated in Southeast Asia.
The leader’s incompetence was what brought everything in the country down.
* * *
By joining the AEU, China effectively became economically dependent on South Korea.
Even if the interest was deferred for several years, the amount of money that China loaned to Korea was much more than one could imagine.
Although GDP has grown steadily, the country has become one where the vitality is gradually disappearing.
A sock factory in China.
The workers who were making socks were drinking coffee imported from Korea and chatting among themselves during their break.
“They say exports have increased tremendously. Will our wages go up too?”
Mr. Wang, who was drinking coffee next to me, said.
“Wake up, you idiot. What good is it if exports increase? We only sell these little socks. Our salaries will never go up.”
“Hey, but you don’t know? How do you know if we can develop like Korea?”
Mr. Wang says angrily.
“That’s because your leader is a capable person like Kim Jong-guk, but our China… …!”
Mr. Won quickly covers Mr. Wang’s mouth.
“Hey, what if someone hears you? Be quiet!”
Mr. Wang says, shaking off Mr. Won’s hand.
“Listen if you want to. When did I say anything wrong? To be honest, what good did Chairman Jiang Zemin or the previous chairmen do? Ugh… .”
Mr. Won also sighs.
“Well. That may be true, but still, be careful. What if someone hears and gets dragged away by the police?”
“If you tell me to drag you, then drag you!”
After Mr. Wang finishes his coffee, he quietly asks Mr. Won.
“Mr. Won… But didn’t you say there was a Korean in your family?”
“Oh, right. But why is that?”
“Then, Mr. Won, can’t you go to Korea to work? If possible, please take me with you when you can… If I keep working here like this, I’ll really not be able to eat or sleep… .”
“Okay. I’m looking into it a bit, so I’ll let you know if I can. But lately, there seem to be so many people going to Korea to work that I can’t seem to find a job… … .”
Korea has always been the number one country in which foreigners want to come and work.
Although they were strict with illegal immigrants, they actively addressed human rights violations and ensured that legal foreign workers were treated equally to domestic workers, so they naturally preferred them if they could go legally.
“Anyway, I’m so jealous. Just a few hundred years ago, we were a country that paid tribute to China. Our ancestors should have gone to Korea and lived there long ago. What did I do, you idiot.”
Mr. Wang continues to sigh with regret.
Before they know it, the factory’s break time is over, and Wang and Won also return to the endlessly rotating conveyor belt.
* * *
Japan also tried to rise again by joining the AEU, but it was not easy.
In particular, the use of the new currency further weakened their competitiveness in an already unfavorable trade, and even within their own country, stores were flooded with Korean products.
[Korean products account for nearly 50% of the products in the supermarket. Is this okay? – Yomauri Shimbun]
[Instead of criticizing Korean products, we should improve the quality of Japanese products. As of now, Japanese products are significantly less competitive in quality than Korean products. – MBS]
“Why are they all Korean products… … .”
Nobusuke Yoshida, who turned 80 this year.
He has been getting irritated lately whenever he goes to a large mart or department store to buy something.
Having lived his entire life as a patriot, he has always insisted on using only Japanese products.
Of course, even in the 1960s, even if you were not a patriot, Japanese products were superior in many ways to imported products in terms of quality and price.
Yoshida has always felt pride in such Japanese products throughout his eighty years of life.
But lately he hasn’t been able to have that kind of pride.
[Origin – Korea]
“Is this also a Korean product?”
Recently, the TV in my house wasn’t working properly, so I went to the TV corner of an electronics store to buy a TV, but the Japanese product I wanted to buy wasn’t there, only Korean products.
Yoshida eventually grabbed the employee and asked where the Japanese products were.
“Oh, you mean domestic products. The domestic products are over there.”
The staff will kindly tell you where to find a Japanese TV.
Yoshida’s steps become a little lighter.
The electronics store I went to yesterday didn’t have a single Japanese TV, so I left feeling annoyed, but fortunately, this place has Japanese products.
‘This is a patriotic store. Places like this should be better.’
With that thought in mind, I went to the place where there was a Japanese TV.
But when he arrived at the place where the Japanese products were, it wasn’t what Yoshida had expected.
The Japanese products were located in the most remote corner of the store.
And this wasn’t a place that had Japanese TVs, it was a place that had all of the Japanese home appliances.
Although I had gathered together a TV, CD player, refrigerator, and cell phone, the area was not even as large as the area where only Korean TVs were kept.
Yoshida was seething with anger at his country’s products being treated this way.
‘On the topic of a colonial country like this!’
Yoshida was annoyed that the country that was formerly a Japanese colony was doing well.
I was getting annoyed just looking at this, and all I could think about was buying a TV and going home as soon as possible.
Let’s take a look at them one by one to buy one of the few domestic TVs.
But there’s something strange about this.
“650 thousand won?”
Even though it’s expensive, it’s too expensive.
Clearly, all the Korean TVs I saw earlier were under 400,000 won, but all the Japanese TVs here were 50% more expensive.
Yoshida grabs the employee again and asks him.
“Excuse me. I think the price on this is wrong… … .”
The employee checks the price tag of the TV that Yoshida was checking.
Then he calls somewhere and says something went wrong and changes the price list.
“Oh, I see. Sorry. This product is now on sale, so it’s 700,000 won, not 650,000 won.”
“What, what did you say?”
Yoshida is shocked when he hears that it costs 700,000 won.
650,000 won is expensive, but I couldn’t believe it was 700,000 won.
The employee speaks to Yoshida, who is disappointed by the outrageous price.
“Customer, I personally recommend you to buy a TV from Samsung Korea rather than this product. The price is the same, but the quality of the product is very different. Right now, I can give you a 50,000 won discount, so it’s 350,000 won.”
It’s clear that Samjeong’s TV was 400,000 won earlier.
At 350 thousand won, it was a really attractive price.
However, no matter how cheap they were, buying Korean products over Japanese ones was an act that hurt Yoshida’s pride.
“Um, no matter what, Korean products… … .”
“How about trying a product demonstration? Many people who talk like customers change their minds after experiencing it once.”
“No, no matter what… … .”
An employee grabs Yoshida’s arm and half-forcibly drags him towards the Korean products.
Yoshida pretends not to be able to win and is dragged away by him.
Even for Yoshida, a patriot who only used Japanese products, the two-fold difference was difficult to endure.
‘Should I try it just this once…?’
* * *
In the White House, meetings have been held every single day recently about one issue.
It was because of the question of how we should view Korea’s recent rise to become the leader of Asia.
It is clear that even 30 years ago, they would not have been able to solve their living problems without American support, but now they have risen to become a powerful country that threatens the United States.
In particular, the fear has grown even more since Saudi Arabia recently started trading oil in the AEU’s common currency, the won, rather than the dollar.
“Are you in continuous communication with the Korean Ministry of Foreign Affairs?”
Clinton looks at the Department of State and asks:
“Yes. We contact each other several times a day.”
Clinton looks at his staff with a serious expression and asks.
“Should we now consider Korea as a potential enemy of the United States? What do you think?”
The foreign secretary answers Clinton.
“First of all, how about meeting and talking with the Korean President at the next UN General Assembly? I think it would be a good idea to first see what kind of attitude Korea will take toward the United States.”
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