Tech Giants: Starting from Bankrupt Companies

331: Chapter 331 Domino CollapseDetroit. Ford’s headquarters is located in Dearborn, Michigan, occupying a vast campus. A bronze statue of founder Henry Ford stands in front of the main building, witnessing the rise and fall of this century-old institution.

CEO Jim Farley was on the phone. The fifty-five-year-old Farley was Ford’s new leader, having been in office for less than two years. His mission was to lead this century-old institution toward an electrified future and ensure Ford survived in the era of new energy.

But electrification required batteries, electric motors, and smart cockpits. And Xingchen had all of these.

On the other end of the line was his assistant. ’Contact Xingchen. We need to integrate with the Xingchen Chain. As soon as possible.’ He paused, his voice turning heavy: ’We also need Xingchen’s batteries, motors, and smart cockpits. Otherwise, Ford will lose its future.’

General Electric headquarters. CEO Larry Culp also chose to cooperate with Xingchen; Xingchen Electric and Xingchen Heavy Industry had the technology they needed.

Boeing headquarters. CEO Dave Calhoun also chose to join; they needed Spark’s materials, batteries, and to cooperate on aircraft engines in the future.

Lockheed Martin headquarters. CEO Jim Taiclet originally had no business dealings with Xingchen, but Xingchen Defense’s technological development was too fast. He hoped to catch this ride instead of being acquired like Grumman.

Nine of America’s most core enterprises were all acting in secret.

In the afternoon, Washington, White House Situation Room. Hawke sat in his office, looking at the report compiled by the intelligence department. His face grew increasingly livid.

The report listed: JPMorgan Chase. Goldman Sachs—had secretly applied to integrate with the Xingchen Chain. Apple—the board had voted unanimously in favor. Intel and Nvidia were in the process. Ford, General Electric, Boeing, and Lockheed Martin had contacted Xingchen.

Nine of America’s most core enterprises had all defected.

Hawke slammed the report onto the table. With a bang, the coffee cup jumped, spilling over the table. ’How dare they!’ The President sat opposite him, watching silently.

Five minutes later, the Secretary of the Treasury pushed the door open. ’Mr. President, Congress is in an uproar. Some members are demanding sanctions against these enterprises.’

The President looked up. ’Can we sanction them?’

The Secretary of the Treasury smiled bitterly. ’Mr. President, these are the pillars of the American economy. If JPMorgan Chase and Goldman Sachs fall, Wall Street is finished. If Apple and Intel fall, Silicon Valley is finished. If Ford and General Electric fall, the manufacturing industry is finished. If Boeing and Lockheed fall, the defense industry is finished.’

He paused. ’Sanctioning them is equivalent to sanctioning America itself.’

The President closed his eyes. After a long while, he spoke: ’Tell Congress to stop arguing. Authorize the Department of Commerce to study the possibility of lifting partial sanctions on Xingchen.’

Hawke stood up abruptly. ’President!’ The President raised his hand to interrupt him. ’Hawke, we have lost. Admitting defeat with dignity is better than being stabbed to death by our own people.’

In the evening, an emergency Congressional hearing. In the meeting hall, members debated fiercely, their voices rising wave after wave.

’We must sanction Xingchen! This is a national security threat!’ ’How can we sanction them? Our own companies are using their systems!’ ’Then sanction those companies!’ ’Are you crazy? Sanction JPMorgan Chase? Wall Street will crash tomorrow!’ ’Then what should we do?’ ’Lift the blockade. The blockade is already dead in all but name.’ ’No! Lifting the blockade is equivalent to surrendering to China!’ ’Then come up with a viable plan!’ ’I...’

Ultimately, Congress passed a non-binding resolution: ’Authorize the Department of Commerce to study the possibility of lifting partial sanctions on Xingchen.’ In plain English: We have surrendered, but we want to surrender with dignity.

Brussels, the sky was so gloomy it looked like it was about to drip water. In front of the European Union Council building, reporters had long since lined up. More than three hundred people were crowded at the entrance, cameras stood like a forest, and flashes went off from time to time. Everyone knew that what was to be announced today might be more important than any news from the past decade.

At exactly 10:00 AM, Council President Charles Michel stepped onto the podium. The fifty-year-old Michel wore a dark blue suit, his tie knotted meticulously. Behind him stood the Chancellor of Germany, the President of France, the Prime Minister of Italy, the Prime Minister of Spain, and the Prime Minister of the Netherlands—the leaders of the five major economies of the European Union, all present.

Michel spoke, his voice transmitted to the world via simultaneous interpretation: ’I announce that the five European Union countries—Germany, France, Italy, Spain, and the Netherlands—are officially integrating with the Xingchen Chain settlement system.’

Reporters below were frantically recording. Michel continued: ’This is a choice for European strategic autonomy. We will no longer accept the US dollar as the sole settlement currency. From today on, trade between the European Union and countries within the Xingchen system will primarily be settled through the Xingchen Chain.’

A reporter raised a hand, the question sharp: ’President Michel, does this mean a rupture in EU-US relations?’

Michel smiled, a complex meaning in that smile. ’EU-US relations remain important. But European interests are more important.’

German Chancellor Merkel stepped forward and took the microphone: ’The German automotive industry needs Xingchen’s batteries. The German chemical industry needs Xingchen’s materials. German machine tools need Xingchen’s numerical control systems. When we settle with US dollars, we have to pay an extra three percent in handling fees and wait three days for the funds to arrive. With the Xingchen Chain, it’s 0.03 percent, and the funds arrive in ten seconds.’

She paused, looking directly into the camera: ’Ladies and gentlemen, if you were a German entrepreneur, which would you choose?’

At the same time, on the other side of the globe. Brasilia, the Presidential Palace. Bolsonaro stood in front of the camera, the Brazilian flag behind him. He held the document he had just signed and broadcast to the nation: ’Brazil is joining the Xingchen Chain. We can no longer be kidnapped by the US dollar.’

Islamabad, the Prime Minister’s Office. The Prime Minister of Pakistan announced: ’Pakistan is officially integrating with the Xingchen Chain. At the same time, we will use rmb to pay for military procurement orders from Xingchen.’

Pretoria, the South African Presidential Palace. The President of South Africa announced: ’South Africa is joining the Xingchen Chain. This is the gateway to Africa.’

Manila, the Presidential Palace. The President of the Philippines announced: ’The Philippines is officially integrating with the Xingchen Chain.’

Jakarta, the Presidential Palace. The President of Indonesia announced: ’Indonesia is joining the Xingchen Chain.’

Abu Dhabi Palace, the UAE announced it was joining. Doha, the Emir’s Palace. Qatar announced it was joining. Kuwait City, the Emir’s Palace. Kuwait announced it was joining. Bogota, the Presidential Palace. Colombia announced it was joining. Belgrade, the Serbia Palace. Serbia announced it was joining.

Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan, and Tajikistan—the five Central Asian countries announced their participation simultaneously.

Within a single day, twenty countries defected simultaneously.

At 5:00 PM, Brussels, SWIFT headquarters. SWIFT headquarters is located in the suburbs of Brussels, in an inconspicuous glass building. It processes trillions of dollars in cross-border payments every day and is the ’nerve center’ of the financial world.

CEO Javier Perez sat in his office, staring at the transaction data on the screen. The sixty-year-old Perez had worked at SWIFT for thirty years, rising step by step from a junior technician to CEO. He had seen financial crises, cyberattacks, and countless so-called ’challengers.’ But this time, it was different.

The transaction volume curve was plummeting. -15%, -20%, -25%, -30%...

His hands began to tremble. An assistant pushed the door open, pale-faced: ’Mr. Perez, the cumulative decline over the week is fifty percent.’

Perez closed his eyes. Fifty percent meant handling tens of trillions of dollars less in transactions every day. It meant SWIFT’s revenue would be cut in half. It meant...

He opened his eyes and said to the assistant: ’Notify the board, emergency layoffs. Lay off thirty percent first.’ The assistant was stunned: ’Thirty percent? That’s two thousand people...’

Perez smiled bitterly. ’If it drops again next week, we’ll have to lay off half.’

At 8:00 PM, New York, Wall Street. Traders were crowded in front of the electronic screen displaying the US Dollar Index. The numbers were jumping. 92, 91, 90, 89...

Someone gasped. ’This is the lowest since 2008.’

The person next to him shook his head, his voice dry: ’No, it’s the lowest since the collapse of the Bretton Woods system in 1971.’ The trading floor was deadly silent.