HCB Chapter 523: Welcome Siam to the Nanyang Family
Chapter 523: Welcome Siam to the Nanyang Family
"By the way, isn't it time for the results?" Zhang Chi raised his wrist, looked at his watch, and signaled Bai Hongsheng, Minister of Nanyang Future Economic Development and Reform, and Chen Zhenchuan, Governor of the Central Bank, who were sitting in front of his desk with serious expressions, to pause for a moment.
"Xiao Liu? Turn on the radio!"
In the corner of the office, the exquisitely designed transistor radio was immediately turned on, and the clear and solemn voice of the announcer of Nanyang National Broadcasting Station came out.
"Now for the important news, the voting for the Siamese Provisional Parliament ended at 1:00 this afternoon. The final voting results are -"
Upon hearing the news, Bai Hongsheng and Chen Zhenchuan showed anticipation on their faces. Even Secretary Liu, who was standing next to the radio, stopped organizing the documents and held his breath waiting for the final decision.
On the radio, the announcer's clear and melodious voice echoed clearly in the office:
"With 178 votes in favor, 1 vote against, and 34 abstentions, the Siamese Provisional Congress passed a resolution for the Kingdom of Siam to join the soon-to-be-established United States of Southeast Asia as a member state."
"Okay!" Bai Hongsheng couldn't help but growl and clenched his fists.
Chen Zhenchuan also smiled, his excitement beyond words.
The two looked at each other and saw the same excitement and excitement in each other's eyes.
What a tremendous feat it would be to completely annex Siam and incorporate this land with a population of tens of millions and rich resources into the territory.
Zhang Chi, he did things that no one dared to imagine.
Secretary Liu also looked at the man sitting behind the large desk with admiration, as if he had just heard some ordinary news. She felt awe and obsession with his powerful control.
The announcer continued, "According to the resolution, the Kingdom of Siam will formally dissolve its Provisional Parliament in March of next year. Its original territory will be divided into five states as planned. Each state will establish its own state legislature to exercise local autonomy. At an appropriate time next year, the state will complete the legal procedures and formally join our Nanyang family."
“The resolution also includes a series of preferential provisions to protect the personal safety, property rights, and social status of former members of the Siamese royal family…”
The announcer's voice was still reading out the terms in detail.
Zhang Chi just glanced at the radio casually, without any expression on his face. He even picked up the teacup on the table, blew away the foam gently, and took a sip.
It seemed as if this news that shocked Southeast Asia and even the world was just an expected dust-settlement, a trivial matter not worth mentioning.
Although Siam will not be able to formally complete the procedures to join the founding ceremony on January 1 next year, this matter is already a done deal from a legal and factual point of view, and the overall situation has been determined.
Of course, he also knew that Hao Yi, Jin Xican, and Luan Pibun must have put a lot of effort into this matter, whether it was coercion or inducement, and even some "unconventional" means were not ruled out. In short, the voting result was very gratifying and met his expectations.
"You two, we can't be too happy just yet," Zhang Chi put down his teacup, his eyes swept calmly over the two people in front of him who were still unable to hide their excitement, and said in a steady voice, "This is not the end, it's just the beginning."
His tone was rare and sober: "If living conditions in Siam decline, life becomes difficult, or if our integration policies go astray, voices of discontent will immediately mushroom like mushrooms after rain. Integration and suppression, appeasement and assimilation, is a long-term task that requires a decade or even longer, requiring extremely meticulous work and sustained effort."
For him, annexing Siam was merely a successful step in his established strategy. The real challenge, however, was how to truly bring these nearly 20 million newly incorporated people home and transform their "Siamese" identity into "Southeast Asian" identity. This was the challenge that required continuous investment of enormous energy.
"Only when the economy develops well, and the people there have more money and a better future, will they sincerely return and truly consider themselves part of Nanyang." Zhang Chi's fingers tapped lightly on the table. "So you two have a heavy task ahead of you. Now, let's continue the topic we were interrupted on, regarding the industrial development plan after the founding of the People's Republic of China."
Bai Hongsheng took a deep breath, trying to calm down the excitement caused by Siam's annexation. He sorted out his thoughts, and unconsciously touched the knot of his tie with his hand. He said seriously:
"Sir, in the 'Draft Outline of the First Five-Year Industrial Development Plan of the South Seas United States' you proposed,' its core indicators, investment directions, and the proportion of heavy industry...are they too high?"
He chose his words carefully: "I fully understand the extreme importance of heavy industry, especially steel, machinery, chemicals, electricity, and military industry, to national defense security and the independence of the industrial system. Without a strong heavy industry, we are rootless and may be strangled at any time. But..."
He paused and looked at Chen Zhenchuan beside him. Central Bank Governor Chen Zhenchuan understood and immediately took up the conversation, his tone tinged with the caution and concern typical of a financier:
"Sir, the key issue lies in the funding chain and debt pressure. After the Bretton Woods system was established, the dollar was pegged to gold, and other currencies were pegged to the dollar. I predict that over the next decade, the value of the dollar will be extremely strong, and the possibility of a significant devaluation is minimal."
He pulled out his notebook and flipped to a certain page: "Today, through various channels, including government bonds, corporate bonds guaranteed by the South China Group, and some direct loans, our total debt to White Eagle has reached a staggering $24 billion!"
A total of 24 billion US dollars, most of which are still lying in the account, is also the guarantee for Zhang Chi to dare to integrate and annex Siam and carry out the first formal five-year plan after the founding of the country.
It’s just that the debt figure is so huge that the atmosphere in the office instantly becomes solemn.
Secretary Liu quietly turned off the radio, left the office and closed the door.
Chen Zhenchuan continued, "For such a large sum of money, even though the repayment period is spread out over the next 10 to 20 years, the annual principal and interest payments are still a huge burden."
He emphasized the rigidity of currency: "We cannot expect Daole to suddenly depreciate to reduce our repayment burden in disguise. Because we borrowed Daole, and we also repay Daole!"
Bai Hongsheng immediately took over, his tone a little hurried:
"That's right, Your Excellency. Heavy industry requires huge investments and takes a long time to build. It's difficult to see returns in the short term, and it's even harder to directly generate significant foreign exchange. Shouldn't we... appropriately adjust the ratio and develop more light industry?"
Looking into Zhang Chi's eyes, Bai Hongsheng said sincerely:
"For example, the textiles, electronics, food processing, daily chemicals, and... uh, that pet industry chain you mentioned earlier? As you said, an export-oriented economy, leveraging our relatively cheap labor and the vast, soon-to-be-consolidated market, will allow us to quickly recycle our foreign exchange and gold reserves.
Otherwise, if the international economy fluctuates, or one of our own heavy industry projects experiences delays or cost overruns, coupled with a policy shift by the White Eagles and debt collection, we could face an extremely severe... liquidity crisis. It could even trigger economic turmoil and shake the nation's foundation.