Free Web NovelWhy not invest in China?
Because it’s a country I can’t trust.
In some ways, it was worse than Japan.
“I don’t understand your reasoning. Even American investors are starting to enter, and Korea’s major corporations are showing interest in the Chinese market. I’m curious why you’re still negative, Mr. Kim.”
I hesitated briefly, but chose to be honest.
“Because I can’t trust it. Of course, no investment is risk-free. But in China, money can get stuck not for economic reasons, but political ones.”
“You mean you don’t trust the ➤ NоvеⅠight ➤ (Read more on our source) Chinese government?”
Wen Jiabao’s voice rose slightly.
I answered calmly.
“Yes. I don’t.”
“Huh...”
China’s economic policies were constantly shifting under the Communist Party’s direction.
Russia was the same, but at least if you had a personal connection with the top leader, you wouldn’t be cast aside so easily.
But for someone like that to emerge in China... it would take another ten years at least.
“What would it take for you to trust us?”
“Well, there are things you can do as Vice Premier, and things you can’t. And really, is it necessary to change national policy just to make me invest in China?”
“We need the name James Han.”
So that’s why he approached me directly.
“We’re aware the currency attack on Japan was led by James. The fact that the U.S. allowed such an attack on its important ally shows just how much influence he holds on Wall Street and within U.S. politics.”
“And?”
“If James Han moves, Wall Street will follow. If Wall Street moves, so will Western investors. That’s what we want.”
If China knows, then Japan must know too.
I never thought it could be kept a secret forever, but...
“Move Han Kyungyeong to draw in foreign investors. And what do I gain from that? What’s in it for you, Vice Premier?”
“...You’re very direct.”
Wen Jiabao’s voice lost all inflection.
“I’m a businessman, you’re a politician. But we share one thing in common—‘we never move without profit,’ right?”
Wen Jiabao didn’t respond immediately.
I didn’t feel the need to say anything more either. Silence stretched between us.
Eventually, Wen Jiabao spoke first.
“Help me, for now.”
“Are you asking for a transaction on credit?”
There was no reply.
“I don’t do credit. But I’ll listen. Tell me—what do you gain if I invest in China?”
He hesitated, then sighed.
“You already know about the political factions in China, so I won’t explain. I don’t belong to any. That makes my political base weak. I don’t know if I can become President, but I do want to become Premier. For that, I need tangible achievements. And right now, China’s top priority is the economy.”
It wasn’t completely unconvincing.
“This visit to Korea is officially to discuss North Korea, but also to encourage Korean corporations to invest in China. Tomorrow, I’ll be meeting with the heads of major conglomerates at the Koryeo Hotel.”
Since economic reform and opening, China’s growth had been terrifying. After regaining Hong Kong, they even tolerated ‘one country, two systems’—proving how seriously they took national economic development.
Investment into Hong Kong continued, but investment into mainland China was still lackluster.
Now he aimed to pull in investors and ride that momentum to secure the premiership.
‘But wasn’t he supposed to be China’s Premier for the next decade anyway?’
Something felt off.
“I may be a strong contender for Premier, but my political faction is weak. Russia, Korea, then Japan next. Isn’t that enough to justify my gain?”
“Yes.”
China had its own unique guanxi culture.
Wen Jiabao might’ve called it a proud part of Chinese culture, but in truth, it was an unfair system built on bribes and personal networks.
In business and investment, it was a double-edged sword. But after retirement, Wen Jiabao had managed to avoid every blade aimed at corruption.
If I tied interest with guanxi, I might never face corruption charges in China...
But once I got involved, who knew how things would shift? That’s what made me hesitate.
“I can’t give you an answer right away. I need to talk to Han Kyungyeong too. How long are you staying in Korea?”
“I’m here for five days, four nights.”
“I’ll give you an answer before you leave.”
“All right. I’ll wait to hear from you.”
With complicated feelings, I left the hotel.
‘It’s a rare opportunity, no doubt.’
After some thought, I picked up the phone.
I called Eva to Han Kyungyeong’s office.
When I arrived, both of them were waiting for me.
“What’s this about? Calling us this late?”
“I need to talk something over. Sit down first.”
After the full explanation, Eva responded first.
“It’s a great opportunity, boss. You know about guanxi, right?”
“Yeah.”
“There are levels to guanxi.”
“Really?”
This was news to me.
“Helping him become Premier puts him in great debt to you. When the Chinese owe that much, they don’t refuse any favor. They have to repay it, no matter what.”
“No matter what kind of favor?”
“Yup. Foreigners find it hard to understand.”
“Hm...”
“You can’t build that kind of relationship with a few bribes or favors. It’s a rare opportunity—if you’re planning to do business in China.”
Eva’s explanation was clear.
Help Wen Jiabao, and you’ll gain a lot.
“I don’t like it. I’ve never trusted Chinese bastards. Ah, Eva—not talking about you.”
“It’s okay. I’m not Chinese. I was born in Hong Kong.”
Han Kyungyeong, on the other hand, looked displeased.
“Still, do we really need to go into China?”
“James, of course we do. China’s growth is impossible to ignore.”
“I know that too. But it’s just not a trustworthy country.”
“True. But if you form yi (righteous bond), things are different. You just don’t know enough about China.”
Eva and Han Kyungyeong began to argue.
Originally, I shared Han Kyungyeong’s skepticism. But hearing Eva’s explanation of guanxi made me reconsider.
The debate only ended when I spoke up.
“I don’t trust Chinese people either, but Eva makes some good points. I’ll meet him again tomorrow and decide then.”
“All right.”
“Got it, boss.” frёeweɓηovel.coɱ
Once I made my decision, the two nodded without protest.
“First, Hyung, contact New York and find out what kind of investments Wall Street is making in China right now. Eva, set up an asset management firm in Hong Kong. You pick the CEO.”
“Okay, boss.”
“Wall Street investment trends... when do you need it by?”
“Just a general overview is fine.”
“I can get that by tomorrow.”
“Then this meeting’s done. Let’s get a drink.”
We decided to meet Wen Jiabao again the next day and decide based on his reaction.
I rented out a quiet nearby bar and had drinks with Han Kyungyeong and Eva.
“Eva, you’re not on medication anymore, right?”
“No.”
“Still having the dreams?”
“They happen sometimes, but they’re not as scary as before.”
“That’s good.”
“What are you talking about?”
Han Kyungyeong grumbled, not knowing Eva had killed Mei Hong.
But I didn’t tell him.
Everyone has their secrets.
The next day.
I headed to the Koryeo Hotel to attend the party hosted by the Chinese Embassy.
I was blocked at the entrance.
“Please show your invitation.”
“I was invited personally by Vice Premier Wen Jiabao.”
The embassy staff at the entrance shook his head.
“I haven’t received any such message. Without an invitation, you cannot enter.”
It didn’t feel great, but I couldn’t get angry at someone just doing their job.
Reluctantly, I called Wen Jiabao.
“Vice Premier, I’ve arrived.”
—Ah, my apologies. I completely forgot.
“....”
Soon, one of Wen Jiabao’s aides rushed over. freewēbnoveℓ.com
The embassy staff who had blocked me bowed in apology.
“I’m terribly sorry.”
“It’s fine. You were just doing your job. I’ll go in now.”
Guided by the aide, I arrived at the Grand Ballroom where the party was being held.
I saw many familiar faces.
Among them, Chairman Song of Daehyeon stood out. It had been a while since I’d seen him at this kind of event.
Given Daehyeon’s North Korea business, China’s involvement must’ve been crucial—hence his personal appearance.
Chairman Song, who had been talking with others, spotted me and raised his hand in greeting.
I walked over.
“Chairman, it’s been a while.”
“First time since New Year’s, right?”
“Looks like it. How’s your health?”
“Same as ever. But what brings you here?”
Chairman Song looked puzzled.
“Oh, I met Vice Premier Wen Jiabao in Russia, so I dropped by.”
“Vice Premier Wen Jiabao?”
His look shifted from puzzled to surprised.
“Pure coincidence.”
“You’re really playing on the world stage now. Haha.”
“Mr. Kim.”
Chairman Kim Seonghyuk of Hyeonhwa Group approached, smiling.
“Chairman Song, it’s been a while.”
“I heard you became the new chairman of Hyeonhwa Group. Mr. Kim helped you out quite a bit, I hear?”
“Yes, Chairman.”
“Whatever happened, now that it’s settled, make sure you do it right. Don’t ruin the company your predecessors built just because of internal conflict.”
“I’ll keep that in mind.”
“Let’s catch up later. Mr. Kim, stop by my house sometime. I’ve got something to discuss.”
“Yes, I’ll visit soon.”
Chairman Song returned to his group, leaving me with Kim Seonghyuk.
“How’s the negotiation with Ilseong going?”
“So-so. Hah, they’re trying to get it for dirt cheap. It’s frustrating.”
“You got help. Now it’s time to give something back. Even if you take a small loss, keep your promises.”
“I’d like to, but there’s a lot of internal opposition. It’ll take some time.”
True, handing over Hyeonhwa Life and Hyeonhwa Card wasn’t a small deal.
But a promise is a promise.
Just then, Chairman Seo of Ilseong Group approached.
“Mr. Kim and Chairman Kim—been a while.”
At his voice, Kim Seonghyuk frowned. I smiled.
“Chairman Seo, good to see you again.”
Nodding, he smiled and said,
“Mr. Kim really gets around internationally. Russia wasn’t enough? Now China? Wen Jiabao and Putin—what a network.”
He clearly wasn’t hiding his interest in me.
“Just happened that way.”
“But Mr. Kim, when will you keep our promise? Chairman Kim here keeps pushing it back.”
Some things never change.
“You’re trying to get it for too cheap. That’s why it’s taking time.”
“I accepted your proposal. Now it’s time for me to be compensated. Whether it’s cheap or fair price, it’s time to pay up. Don’t forget.”
“Mr. Kim doesn’t handle that anymore. Speak with me, Chairman Seo.”
Kim Seonghyuk cut in with a displeased look.
‘As expected... I need to strip Seo Yonggeon of his power.’
Whether he noticed my thoughts or not, Seo Yonggeon now focused on talking to Kim Seonghyuk.
