Chapter 717 Currency War
In addition to launching a counterattack against the smearing reports of the US media, SAL also hired a very experienced professional team to ask Zhao Jianwu, who is in charge of the technology, to lead a team to clarify with relevant US investigative agencies, denied the relevant allegations, insisting that the built-in intelligent voice search service and instant messaging service are part of the product, SAL has not prevented other similar functional product components from being installed and used on SAL products, and users have full rights to choose to use their favorite products. The SAL product platform is a very open platform, and any competitive product is welcome.
Although these two products of SAL actually occupy more than 95% of the market share of these two aspects on their own platform, this is also because the functions of these two products developed by SAL are indeed far beyond similar products. Not only on the SAL platform, but also on other mobile phone platforms and PC platforms, the two products of SAL also occupy most of the market space. SAL's search services and instant messaging services are already the world's number one.
After all, in the era of intelligent voice, SAL's technology is unique in the world. In addition, Kerry's test is completely incomparable in terms of quality. It is impossible to compare with other companies. It is simply no doubt that they have occupied the world's first market share with such an advantage. Because this itself is a competitive advantage created by SAL's innovation. It was not the same with competitors such as Google and Microsoft back then. However, under the secret promotion of Snyder, these companies that are now starting to jump out and talk about this, which is indeed a bit unfavorable.
The domestic and foreign public opinion has not completely doubted these inexplicable bad lucks that SAL has encountered one after another. Soon, domestic media began to reveal that this was an abnormal means adopted by SAL's American competitors and US government agencies. The purpose is to prevent the sale of SAL products in the United States through non-market means, which is a typical means of trade protection.
After a detailed comparison of the performance and quality differences between SAL products and competing products, some media pointed out that SAL's products have an unquestionable advantage in key indicators such as standby time, screen display accuracy, response speed, and operational convenience. It is precisely because of this that SAL has gained an advantage in the market and gained a majority share of the high-end product market. Therefore, the motivation behind this antitrust investigation initiated by competitors is really suspicious.
Immediately afterwards, these doubts began to spread from home to abroad. SAL now has a lot of resources. At the same time, the old Li family also secretly helped in this alternative war. Through the exposure of these media, these actions of the US have formed one-sided support for public opinion in the domestic media. Everyone has begun to criticize these actions of the US. Radical young people have called on the authorities to take the same revenge against US companies. After winning the Diaoyutai War, the national sentiment in China has risen to an astonishing level. Young people who are proud and a little arrogant now do not take the US military seriously anymore. In their minds, the People's Liberation Army is now an invincible existence in the world, so it is particularly unbearable tolerate this discriminatory tendency.
In this case, the Ministry of Commerce began to emerge, expressing serious concerns about the US investigation of SAL, and urged the US to ensure equal treatment and create a fair and competitive market environment for Chinese companies to avoid affecting the normal economic and trade exchanges between the two countries. This is the first prepared signal sent by China. Since Vice Premier Wu highly blocked the news of this economic war, the US intelligence agencies knew nothing about it.
Therefore, the US side did not take the official voice of China seriously. After all, they had not done such things before, thinking that these were just talks that the Chinese officials were used to, and they didn't need to take it seriously. Under Snyder's strong promotion, the US antitrust investigation and security investigation began to escalate. The investigation committee asked SAL's senior management to have a US investigation hearing and asked to disclose the source code of the mobile phone operating system to the hearing, so as to indicate that their mobile phone products did not attempt to steal communication information from mobile phone users.
SAL flatly rejected the unreasonable request of the US side, saying that the source code of the mobile phone operating system is the highest business secret of SAL and the core component of SAL's competitive advantage. SAL will not accept the unreasonable request of the US side. Faced with SAL's extremely uncooperative attitude, members of the US investigation team were agitated and embarrassed. They announced that before the formal conclusion of the investigation came out, the investigation committee asked SAL to suspend sales in the US market!
This extremely tough decision made by the US side that completely ignored China's official warning statement forced SAL to temporarily stop sales in the US market. SAL began to suffer huge losses, and the situation was gradually escalating.
China's trade and diplomacy immediately responded strongly, warning the US to immediately cancel such measures to discriminate against Chinese companies, otherwise China will take effective measures to counter and ensure the interests of Chinese companies.
The US Department of Commerce, Chief Trade Representative, Secretary of State and other key figures in the economic and trade fields expressed dissatisfaction with China's warning. They stated that this was a legitimate action taken by the US to ensure fair competition in enterprises and national security. China's accusations were unreasonable. At this time, the US still knew nothing about China's economic strategic intentions and focused its attention on SAL.
The insincere response of the US side has completely turned domestic public opinion to support SAL, and loudly called on the government to come forward to uphold justice for SAL. The US media is very dissatisfied with the one-sided public opinion of the Chinese media, believing that the Chinese media has lost the principle of objective justice, and a war of words broke out between the media of the two countries, which made the gunpowder of public opinion stronger.
If all these are just a prelude, when SAL sued Times and flatly refused to let Duke attend court to testify in person, the jurors said that Dr. Duke failed to swear to testify that he had not done those things, and found that SAL had insufficient evidence, and was very surprised that SAL lost the first instance! This highly biased judgment that even lawyer Alan was very surprised, immediately worsened the originally tense public opinion situation in China and the United States.
Under the strong promotion of domestic public opinion, Vice Premier Wu, who is seeing the time ripe, made a solemn statement on behalf of China that given that the serious discriminatory treatment the US has always adopted against Chinese companies, fully demonstrated the US's economic hegemony and seriously undermined the fair competition environment between Chinese and American companies. Therefore, China promotes the construction of a reasonable international market environment and ensures national interests, and will re-arrange its debts owned by the US.
As soon as this statement was made, it immediately aroused a huge shock in the US financial market, seriously shook market participants' confidence in the US dollar position, and caught the US economic, trade and financial related departments off guard. They did not expect that China would suddenly change its face and even raise this matter.
Just as they were in a mess, while discussing countermeasures at home and urgently coordinating with China, China then launched a series of foreign economic and trade cooperation agreements:
China has signed all bilateral trade settlement agreements with fifteen countries including Africa, South Africa, Egypt, Ethiopia, Sudan, Nigeria, Asia, South Korea, Iran, Pakistan, Bangladesh, Myanmar and Central Asian countries, as well as South America, Venezuela, Brazil, Argentina, Peru and other countries, and all bilateral trade settlement agreements will no longer be converted through US dollars.
In these new settlement trade agreements, China agreed to use US bonds to guarantee that if the above-mentioned countries need to convert their own RMB surplus into US dollars during the transition period of the first five years of RMB settlement, China will use US bonds to pay equally to eliminate the worries of these countries. In addition, directly using local currencies of both parties has greatly reduced the pressure on foreign reserves in these countries, reduced the inconvenience and new costs caused by multiple currency conversions, which will bring more benefits to both sides, further enhance the quantity of bilateral trade, and add new impetus to the economic development of both sides, so it is also very popular within these countries.
Especially for African countries, China promises to invest huge sums of money to help them develop domestic resources and acquire these resource products at reasonable prices to vigorously promote local economic development. Compared with European and American countries in Africa who only seek plunder and are unwilling to contribute to local development, China's reputation is obviously much better.
This series of economic and trade agreements completely shocked the Americans who have always been arrogant. They did not expect that China would suddenly accelerate the internationalization of the RMB by borrowing the SAL incident. Although China has made many attempts before, such as the countries that have officially signed RMB settlement have actually signed similar agreements before, but the amount actually implemented under the suppression of the US side is not too large, and it is far from the full RMB settlement.
However, after China used US debt to recover RMB as a guarantee, dispelling the concerns of these countries, a series of economic and trade exchanges with these countries will now use RMB to directly connect with each other's currencies, with the annual transaction volume exceeding US$2 trillion, accounting for one-third of China's foreign trade.
At the same time, China began to negotiate bilateral trade with the EU, Southeast Asia and CIS countries with full adoption of RMB settlement agreements.
If China is allowed to achieve this goal, among China's major economic and trade targets, there will be a few left, including South Korea, Japan, the United States, Mexico, Canada, etc., which means that China has escaped the control of the US dollar in most of its foreign trade.
This of course made the US very nervous. On the one hand, they sent people to the EU to lobby, demanding that they refuse to use RMB to settle and stop negotiations with China. On the other hand, they used various means to threaten other countries that had signed an agreement with China and demanded that they stop implementing it.
Unfortunately, China offered a generous price this time. For the EU, China promised to convert a large part of US bonds into European bonds after signing the agreement. For the EU, which is still at the end of the debt crisis, China's commitment is naturally a timely help and will play a great role in stabilizing the EU's internal financial market.
Therefore, the EU is the first to be aware of the persuasion of the US representatives, and if you hear it, they have forgotten that when the EU debt crisis is at its most dangerous, Americans have been standing by. Although there is no difference between Europe and the United States in terms of ideology, they have always had a strong competitive relationship in terms of economic interests.
Therefore, on the basis of interests, although the progress of China-EU negotiations has been interfered by the United States, the impact is not too great. A new draft agreement between China and Europe is about to emerge soon. As for Southeast Asia and the CIS countries, the negotiations are progressing faster due to their strong dependence on the Chinese market, the negotiations have been progressing faster. Therefore, the currency war led by Vice Premier Wu has initially won.
Chapter completed!