Of course, we should take a strict attitude towards the United States' health packs. In fact, Japan, which is completely controlled by the United States, has always been a sharp weapon against Britain and France.
This is why Alan Wilson has been shouting about unfair trade and currency manipulation for years, but the United States still turns a blind eye.
The United States is taking advantage of a country that has complete control over the previous version of the hegemon, Britain and France. Both the United Kingdom and France are well aware of this fact. Now that the United States wants to bleed blood bags, why should the two countries oppose it?
?This should have been done a long time ago.
Of course Mitterrand was not opposed to uniting with the United Kingdom. Of course, he also hated the United Kingdom in his heart and believed that the United Kingdom was a traitor in the European Community. But at this time, the two countries must unite. The reason for not being concerned before was just that
It is for the UK to take the initiative to show goodwill and show sincerity.
If it were Mrs Thatcher, the French would definitely not be able to succeed, but Alan Wilson has never been stingy about making two extra trips, and besides, it’s not like he doesn’t have a place to live in France.
In fact, the record-breaking deficit in the United States is mainly due to its own problems. There was a deficit problem in the past, but it was far less outrageous than in the past year. This was not caused by raising interest rates, but the root cause was inflation. Due to the Vietnam War and President Johnson's "
With the policies of the "Great Society Plan", the debt pressure of the United States continues to increase, and inflation becomes more and more intense.
After that, Paul Volcker became chairman of the Federal Reserve and continued to raise U.S. interest rates. At its highest, U.S. interest rates exceeded 20 percent, becoming "the highest interest rate since the birth of Jesus."
Tight monetary policy quickly controlled U.S. inflation, and the U.S. dollar also strengthened. At first, the U.S. was happy to see this. President Reagan's favorite slogan was: "Strong America, Strong U.S. Dollar." Paul Waugh
Erke was dubbed the "anti-inflation fighter."
However, the dollar is too high, which has dealt a heavy blow to U.S. exports, especially manufacturing exports. After more than two decades of rapid development, Japan has become the main source of the U.S. trade deficit.
Obviously, the United States has eliminated inflation through a strong dollar, but the negative impact is that it has severely damaged its own exports. Now what the United States is thinking is that eliminating inflation is good, but the deficit problem must also be solved. If it cannot solve it on its own, then it will find a scapegoat.
solve.
Basically, Britain and France have reached a consensus on this point, so there is no problem. They are waiting for the meeting to be held and agree that the United States will punish unfair trading countries that should pay the price.
Family ties are valuable. Even if the movie queens are no longer in their prime, Alan Wilson still likes to stay at Woodpecker Pictures, even if he just sits down and chats.
He definitely has no say in the marriage of the next generation. He can't even control his own daughter Pamela. It's just that Arnold said that he is accompanied by a man of equal status to his husband, but he has no intention of getting married for the time being.
Ingrid Bergman's two daughters don't need to worry so much. It is reported that they already have a sweetheart, who seems to be the descendant of some orthodox aristocrat. The gold content of these aristocrats in France is quite low. If he takes the opportunity, he will definitely inquire on his own to prevent his daughter from being
deceive.
The person in the United States who is now responsible for ensuring that Germany and Japan take the overall situation into consideration is White House Chief of Staff Baker. Baker is a lawyer by training and does not have the views of various schools of economics. He is a pragmatist who pays attention to using the most direct and effective way to deal with problems.
.
After receiving support from Britain and France, without further delay, the White House spread the word that it would resolve the issue of international trade balance at a meeting of finance ministers of industrialized countries. This meeting was held in Japan. During the negotiation process, Baker took the following measures:
It is a "divide and rule" strategy. We first reach an agreement in principle with Japan, and then go to Europe and tell European countries that Japan has agreed to us.
When European countries also agreed, the United States returned to Japan, used European cooperation to beat Japan, and asked Japan to accept more harsh conditions.
Finance Minister Lawson also received the vague announcement from the United States, and after discussing with Mrs. Thatcher, "It seems that the Americans have convinced Japan and Germany."
"In other words, the strong dollar is over. The Americans may play a word game and instead of saying that the dollar should depreciate to promote import and export balance, they will say that the currencies of other countries will appreciate."
Alan Wilson walked in and said, "This is just a face-saving statement. Inflation has come down and the time for raising interest rates has passed. We also need to make corresponding adjustments. If the dollar depreciates, the pound will appreciate accordingly, which is very important to the UK."
It’s also detrimental.”
Mrs. Thatcher and Reagan were in the same routine, raising interest rates to absorb inflation. Even the UK did it earlier, because Mrs. Thatcher came to power earlier. Now that the inflation problem in the UK has been solved, such a high interest rate is obviously not good enough.
It's appropriate.
Lawson went to New York only to confirm the signing of the Plaza Accord. The negotiations had already been completed, and even the documents were ready. He was just waiting for the finance ministers of the relevant countries to sign. Even the documents of the Plaza Accord had been read by Alan Wilson.
By the way, I learned how to choose words and make sentences.
For example, the expression "depreciation of the U.S. dollar" is not mentioned throughout the article. Instead, it is said from the other direction as "the appreciation of non-U.S. dollars currencies." In essence, there is no difference. This is just a way of saying "powerful".
The United States wants to save face, at least literally, so as not to make people feel that the U.S. monetary policy has made a 180-degree U-turn.
"I heard that Germany has a lot of criticism against Japan. The root cause of this time is that the Japanese are too greedy." Mrs. Thatcher smiled broadly. Of course she was happy to see the Germans being defeated. A defeated country turned out to be Europe.
As a leader in the manufacturing industry, this is very uncomfortable.
"That's what happened." Alan Wilson nodded. "Maybe he feels uncomfortable with Germany and Japan as scapegoats. Who doesn't have the right to complain?"
This chapter is not over yet, please click on the next page to continue reading! Among the five countries at the Plaza Meeting, Germany has always been resentful of Japan. Because in the roll call of the United States, Germany and Japan were the only two mentioned by name.
The emergence of "trade surplus countries". To put it bluntly, these two countries are making money from the world.
Those who make more money will naturally contribute more money and efforts in this joint intervention, and will be more negatively affected by the Plaza Accord.
Japan is the largest exporter and a country with trade surpluses. It attracts attention because of its reputation. There is nothing to say. Germany, which has a much smaller surplus figure, is very reluctant to accompany it. In fact, in the Plaza Accord, Japan and Germany, the second largest country, have a current balance of payments surplus.
The statement was strongly advocated by the United States, and its purpose was also to appease Japan and prevent it from appearing isolated.
The Japanese do not earn as much as the Japanese, especially not as many US dollars, but they are still being used as role models by the Americans. Of course the Germans are not happy. The Germans think that they have been implicated by Japan.
At the last round of finance ministers’ meeting, a German representative raised objections to this: “How can a small animal and an elephant ride in the same boat?” The American representative immediately responded: “Of course a small animal and an elephant must ride in the same boat.”
When the United States encounters hungry people, it will bleed. However, due to the good relationship between Mrs. Thatcher and Reagan, and the strength of the United Kingdom, the amount of natural bleeding will naturally be different. This time the currency appreciation will be treated
It belongs to the mark and the yen and has nothing to do with the pound franc. As for joint intervention in the financial market to promote the devaluation of the United States, each country also has its own share.
Japan is a country with the same status as the United States. The United States and Japan each have a share of 30%. As for Germany, the other unlucky Axis power, the share is 25%, leaving 15%.
France has 10 percent and Britain's share is 5 percent.
This has all been determined, so the task of Finance Minister Lawson is to arrive in New York and sign it. The UK has been pushing for the signing of the Plaza Accord, also in order to put an end to its own strike as soon as possible.
Although Alan Wilson has made up his mind that if the Plaza Accord is not signed, the strike in Britain will not end, but if it is signed earlier, wouldn't the British losses be smaller?
How to choose international capital? Of course, it is to sell US dollars and buy Japanese yen. This is something that Alan Wilson, a civil servant, certainly cannot do directly. Fortunately, there is no shortage of professional financial talents in the UK.
Compared with the original history, the Plaza Accord was signed three months earlier. On June 22, the finance ministers of the five countries, the United States, the United Kingdom, Germany, France, and Japan, signed such an agreement at the Plaza Hotel in New York, United States.
This agreement kicked off the appreciation of the yen and mark.
This also caused the movement of international capital. Of course, Pamela Mountbatten had already completed the buying and selling operations, and was just waiting to see the rising numbers. "Maybe there can be a 15% profit. This is already
It’s very exciting.”
"According to public information, this is indeed the original intention of the United States, but the dream can be bigger." Alan Wilson looked like he was possessed by Chang Gong. At the beginning, the United States did believe that devaluing the yen by 15% would solve the problem.
But it must be said that Japan's industry in this era is quite strong. As a result, although the yen has appreciated by 15%, the export of American products still cannot beat Japan.
Not only did the deficit not narrow in the first year, but it caused the yen to appreciate, making Japan seem to be getting better and better. So the cycle began, and the United States continued to increase its efforts to appreciate the yen, which resulted in a 100% appreciation of the yen.
At the beginning of the Plaza Accord, Japan not only seemed not to be affected, but became more and more powerful, which made the United States see clearly that Japan had really been raised by itself and should strike hard.
Of course Pamela Mountbatten was happy. After just one day, he had made a profit of 5%, which was 5% of the scale of 5 billion pounds. And it had only been one day. It was just the beginning.
The exciting harvest makes even the richest woman unable to help but feel moved.