I Became Park Jeong-ui’s Nephew - Chapter 201



Only Krnovel

He became Park Jeong-ui’s nephew. – (201)

“The U.S. economy has found stability, but has failed to improve its constitution.”

This is America,

Experts graded the Reagan administration’s economic policies.

As the economy shifted from finance to manufacturing, employment rates rose significantly, but the prevailing opinion is that this is like removing the stone from the ground to build the upper stone.

For a long time, manufacturing in the United States has revolved around the so-called Rust Belt, which stretches from Ohio to Michigan to Indiana. This concentration of manufacturing in one location has its advantages, but it also has its disadvantages.

The advantage is that you can concentrate your capabilities in one place and produce a lot of production, but the disadvantage is that it makes it easy for a strong union to come in.

“Do you think manufacturing will return to normal if we don’t work?!!”

“So raise my wages!!”

The workers are also smart and know that if they go on strike, the manufacturing industry will go bankrupt.

This is why companies have no choice but to avoid Rust and relocate their factories elsewhere or give in to the workers’ demands.

It was California that took advantage of this gap to greatly expand its manufacturing industry.

As governor, Reagan brought in Daehan Transportation to move the manufacturing center to California, and so what happened to the United States?

Did American manufacturing thrive because the Rust Belt collapsed and California thrived?

In the end, that’s it,

What’s more serious is that the value of the dollar is not falling at all.

Manufacturing is a business that relies on exports, so naturally, the value of the dollar must fall in order to make a profit from exports.

But the Fed is cutting government spending and even controlling the money supply to prevent inflation. Can the value of the currency fall in this situation?

Ultimately, the conclusion is that if the United States wants to grow its manufacturing industry, it must lower the value of the dollar.

In a word, the Reagan administration is pursuing conflicting strategies.

What if we had continued to release money and expand the size of the financial sector?

Experts claim that if that happens, companies will borrow money from banks and invest in new businesses, and manufacturing will naturally grow. So, was quantitative expansion the answer?

But this could be a bit of a risky decision.

Meanwhile, the world has revolved around the United States, and many countries have benefited from it.

But what about now?

With the rapid rise of the Asian economic belt boasting a population of 240 million, and the Soviet Union joining in, Eurasia is gaining attention as an economic center.

In this situation, if the U.S. government increases the money supply, will many countries join the dollar hegemony?

If that was the case, the US economy should have been restructured through finance.

But the reality is that while the US has been dithering, Shanghai’s financial market has tripled in size over the past seven years.

As economic development progresses in the Nanjing-Shanghai-Yancheng area, corporate financial lending also increases.

If you were an investor, where would you put your money? You don’t have to think too deeply about it.

Money is flowing into Eurasia, and even the US can no longer stop it.

“Guys, we’re having a hard time exporting because the value of the dollar hasn’t fallen. So, should we adjust the exchange rate?”

“That’s funny.”

“By what right do you have?”

“Unfortunately, it seems like your days of sucking honey are over.”

Investors are also snorting, if the world is structured so that money can be made only by maintaining the dollar hegemony, everyone will side with the US.

But isn’t that not the case now?

Now that the alternative called Eurasia has emerged, the flow of money will only flow there. What will happen to the United States, which has failed to improve its constitution?

Is it true that world hegemony is shifting from the United States to Eurasia?

Everyone was on edge, making their own predictions.

***

“Wouldn’t it be better to adjust the exchange rate?”

“Wouldn’t that make exports difficult?”

“You can increase your investment with the higher exchange rate.”

This is the Federation of Korean Industries,

Business leaders gathered together to discuss Korea’s future.

Korea is now in a perfect situation for constitutional reform. Up until now, the economy has been supported by employment-centered manufacturing, but now everyone wants to switch to finance.

It is true that it has become difficult to make a profit as wages continue to rise. This is something that the United States has also experienced, and Korea is no different.

Now is the time to improve your constitution, but there is a problem.

The gap between the rich and the poor is widening rapidly, and finance is not an employment-oriented industry, so if the industrial structure is reorganized, some can reap huge profits.

But the majority will fall into the abyss, and this is what the US has shown us. Why did the US become a tilted playing field after the Rust Belt collapsed?

Because the majority was sacrificed for the benefit of the minority,

But businesspeople have no hesitation.

Is business done to make a profit for the company or to pay wages to the workers?

Politicians must embrace workers to win votes, but businesspeople don’t have that kind of awareness.

Going forward, the decision has been made to move manufacturing bases overseas and focus on finance in mainland Korea, but there is one more hurdle to overcome.

That’s the head of state,

Would the head of state who supported Korean industry with manufacturing, distribution, and expansionary employment policies agree with the businessmen’s claims?

The prediction did not go as planned.

***

“Your Majesty, this is a report submitted by the Federation of Korean Industries a while ago.”

“What is it about?”

“They say they want to transform the industrial structure to focus on finance… and that they will focus their investment in manufacturing in China, where wages are low.”

“Can that happen overnight? These people are too impatient.”

This is Changgyeonggung Palace, I pushed away the report submitted by the entrepreneurs.

Now is the right time to change the industrial structure, but the repercussions are too great.

The rise of the unemployed – the beginning of the widening gap between the rich and the poor. Of course, I don’t care if that happens. If the financial sector expands, I will make more money. If that’s the case, it would be better to throw away politicians and become a businessman.

But isn’t that the case?

However, we cannot ignore investors’ demands.

“Your Majesty!! It’s time to improve your constitution!!”

“Now that America is shaking, we must take over the world’s hegemony!! This is a golden opportunity to greatly expand our national economy!!”

All correct, nothing is wrong.

So should I give up on an employment-centered economy? Considering the gap between the rich and the poor, I don’t think that’s right, but the trend is already moving that way.

It would be foolish to kick away this opportunity to push America out and become the center of the world, so I was caught in the act.

‘Do I have to do this while abandoning my political beliefs?’

My purpose in running the business is clear.

In order to grow the manufacturing industry and stabilize the people’s lives, that’s why Daehan Transportation became the world’s number one company.

But now you’re giving up that belief to make more money? Of course, I’m not that righteous, but in order to maintain the stability of the regime, it was absolutely necessary to control unemployment and inflation.

But if I choose to improve my constitution here, I will have to give up the beliefs I have maintained so far, and it is obvious how that will be viewed in the eyes of the people.

‘Making money is important, but maintaining power is also important. To maintain employment, we need to maintain manufacturing… but if we do that, investors might leave Korea… .’

A problem that won’t change no matter how much you worry about it,

First, we asked entrepreneurs to report how much employment they could sustain with finance.

The results are as expected, with the potential to employ about 800,000 people, less than a fifth of the manufacturing workforce.

Banks employ about 250,000 people, the financial sector 130,000, and the rest are economically unstable as consulting and design professionals.

How’s the salary?

If the average income in Korea is set to 1, the income of farmers is 0.8, that of the construction industry is 0.98, and that of the financial industry is estimated to rise to around 1.97.

Does this mean that the problem of the gap between the rich and the poor has become a reality? Should we reform the structure of the country for those 400,000 people, even if it is for the sake of the country’s hegemony?

So I thought about it in my own way.

‘Finance? Yes, I will help you grow it. But you can’t do as you please. I will do as I please.’

In the 1970s, the world economy reached a major turning point.

In the past, foreign investors were legally restricted from investing in other countries, but can the flow of money be stopped?

So the US relaxed foreign investment regulations,

In line with that trend, Daehan Transportation also made full-fledged inroads into the United States.

If you think that all regulations have been abolished, you are mistaken; the United States has thoroughly separated finance and industry.

Prohibits manufacturing or service companies from owning banks;

If these restrictions are not imposed, foreign capital will take over manufacturing and finance, and what will happen to the industrial structure of that country?

That’s why the United States did not allow its own banks to be taken over by capitalists.

This is why I devoured American manufacturing but not finance. After all, America is not a country that can be devoured so easily.

Since the financial industry is still alive, an environment where the financial industry and manufacturing industry can survive at the same time with just a slight change in the exchange rate.

So I decided to adjust the exchange rate.

This will bring a boom in manufacturing in the California area, and its development will soon benefit Daehan Transportation.

Manufacturing in the Rust Belt has long since moved to California, and isn’t California manufacturing now the home turf of the Korean transportation industry?

As the profits of Daehan Transportation increase, the problem of workers’ wages will also be solved.

It would be good to make the country called South Korea the center of the financial industry, but considering the country’s employment rate and the gap between the rich and the poor, it is not a very good choice.

It would be better for the US to be saved and for Korea to receive something from it. If that happens, businessmen will have no complaints.

What’s wrong with maintaining a structure where I get a profit in proportion to the amount of investment I make?

They concluded that and agreed to adjust the exchange rate with the US government.

If the exchange rate is adjusted to increase the competitiveness of U.S. manufacturing, the U.S. government will distribute dollars to the market through quantitative easing.

When dollars are released into the market, doesn’t that mean that the US financial industry is revitalizing? And when the financial industry revives, doesn’t that mean that companies are also active?

With just a few adjustments, the U.S. economy emerged from recession as if by magic.

“Dollars are coming in!! Open your mouth!!”

“It’s been a while since you opened your mouth. Hurry up and put the money in.”

The U.S. government began printing dollars as promised.

The financial industry used that money to lend to companies, and industry began to pick up steam, and as the U.S. economy picked up, Daehan Transportation posted record-breaking results in the first quarter.

Needless to say, the company earned about $1.5 billion in revenue this quarter alone, and that money was reinvested into wage increases and technology development.

A circular structure has been completed in which money is not only kept in the financial sector but is reinvested in industry.

The inspired U.S. government completely abolished restrictions on foreign investment.

The gap for Daehan Transportation to penetrate the United States has widened, so I released all 2.2 billion dollars that had been stored in the granary.

Now is the golden opportunity to dominate the American market, and American businessmen have bowed their heads at my feet.

Now I have the power to manipulate the US exchange rate, and that has saved the US economy, so what’s the problem?

If you are not satisfied with that, you can reverse the exchange rate and concentrate finance in Eurasia.

What good does that do to America?

If the capitalists weren’t fools, they would bow their heads to me. In fact, even the American financial world has come under my influence.