After staying in Sochi for another two days, Fu Song reluctantly returned to Moscow at Pansokov's urging.

The day after returning to Moscow, under the witness of Ambassador Wang, Fu Song signed a sales contract with Pansokov on behalf of Vision Group for 300,000 hectares of land in the Far East Baikal Krai. The total contract price was US$45 million, which was paid in three phases, with the first phase of US$20 million.

At the banquet after the signing ceremony, First Vice Premier Geedal personally attended and delivered a hot speech, praising China and Russia's traditional friendship, and thanking Vision Group for its investment.

Geidal was formerly the Minister of Finance of the Russian Federation and was just appointed by Nikolaevich as the first deputy prime minister in charge of economic reform last month.

In the first half of 1992, Geidal was a hot figure in Moscow, so he naturally became the Russian protagonist of the banquet, and Pansokov, the chairman of the Agricultural Committee, could only smile.

Geedal came over with a glass of wine, and first clinked with him: "Ambassin Wang, cheers for the friendship between China and Russia!"

Ambassador Wang nodded slightly with a graceful demeanor: "His Excellency Vice Premier, cheer for the friendship between China and Russia and the peoples of both countries!"

Geedar raised his cup to Fu Song: "Mr. Fu, thank you for your contribution to the Russian Federation! Cheers!"

"Cheers!" Fu Song smiled and drank half of the wine. Geedal still had to give him face, "Your Excellency Prime Minister, I wish you success in economic reform!"

Geidal said: "I heard that there is a saying in China that everyone is making fireworks high. The economic reform of the Russian Federation needs and welcomes powerful investors like Mr. Fu."

Fu Song kept a smile on his face, but he felt a little surprised. He had expected this situation, but he did not expect it to come so quickly.

For him, Pansokov was just a stepping stone, and Old Pan's role was to throw bricks and attract jade. As soon as the land purchase and sale agreement was signed, the first deputy prime minister came to give him a blow.

Geidal is anxious!

The greater the ability, the greater the responsibility. Similarly, the higher the position, the greater the responsibility.

Nikolaevich appointed Geidal as the first deputy prime minister in charge of economic reform in order to reverse the economic situation of the entire country as soon as possible, but Russia's economy has long been terminally ill. How easy is it to completely reverse it?

Governing a big country is like cooking a small freshman. Whether it is Mr. Nikolayevich or His Excellency the Deputy Prime Minister Geedal, they obviously do not understand this truth, or they understand it in their hearts, but even under the opposition's eye, even if they know that hot tofu is burning their mouths, they have to bite the bullet and eat it.

So although Geedal is now in a glorious position, if he cannot achieve results that satisfy Nikolaevich in the short term, his fate will be very miserable.

But how can economic reform be so easy?

The main problems facing Geidal are: nearly $100 billion in foreign debt, the ruble depreciated sharply, the inflation is serious, agricultural production is stagnant, industrial enterprises are losing money, production is suspended, semi-stop production, and social security is in chaos...

These problems are closely linked and linked. Even if the gods descend to earth, they cannot be solved in the short term.

Say a thousand words and ten thousand, there is no money!

Whether repaying foreign debt, stabilizing exchange rates and prices, and resolving triangular debts to resume industrial production, money is needed.

Yes, you read that right, the Soviet Union and Russia after the collapse of the Soviet Union also had huge amounts of triangular debts, which are unique products of the planned economy.

Geidal is from a professional economics class, and he will not mention his ability for the time being, but he still has vision, so he naturally knows the crux of the Russian Federation's economy.

The way he solved the problem was privatization. To put it bluntly, it was to sell and sell the country's assets. Wouldn't he have money?

For young reformers represented by Gaidal, "privatization" is both a goal and a means. It seems that they really believe that "privatization" is a good medicine. As long as "privatization" is implemented, the federal economy can cure the disease.

According to his plan, first carry out "small privatization" and then carry out "big privatization".

The content of small privatization is to complete the privatization of 50% of building materials enterprises, wholesale commerce and public catering industries within this year, 65% of food industry, retail commerce and 70% of light industry, construction and automobile transportation and repair industries within this year.

The main forms of small privatization are auctions, commercial bidding, leasing and joint-stock systems, which are mainly aimed at labor collectives, natural persons and legal persons.

However, ideals are full, but reality is skinny.

The small privatization has been implemented for nearly a month, and the scene of Russian people flocking to buy things in Geidal did not happen.

There are many reasons for the "thunder and rainfall" of small privatization. The most important ones are two. One is that the people have no money and cannot fill their stomachs. Who has the spare money to buy factories and enterprises? The other is that everyone lacks the necessary confidence in privatization. Most of the rich and capable people hold money to wait and see.

Geidal has realized that there is a possibility of failure in economic reforms and has long lost the confidence he had when he first took office as the first deputy prime minister.

But he couldn't retreat, nor could he retreat.

He knew very well that as a "flatter" who was praised by Nikolaevich and was appreciated, he had no way out. Even if he knew that there was an abyss ahead, he had to bite the bullet and continue moving forward.

The pit I dug myself will jump down with tears in my eyes!

One of the most pressing problems he faces now is the foreign debt of the Russian Federation.

Since the 1970s, due to the influence of food shortages and the sharp decline in crude oil prices in the international market, the Soviet Union began to borrow a large amount of debt from Western countries in the Paris Club, mainly for importing grain.

When the Soviet Union collapsed, it left behind US$104.5 billion in foreign debt, including interest. The Russian Federation assumed 61.34% of the former Soviet Union's foreign debt, totaling US$64.1 billion.

Since the collapse of the Soviet Union, the Russian Federation has not only not paid back a penny of old debts, but also has also been borrowing new debts. In more than three months, the scale of foreign debt has exceeded US$70 billion.

As the economic situation in Russia continues to deteriorate, it is unable to repay its due debts, so it can only be eased by negotiating restructuring of debts.

In order to show "friendliness" and "support" to the Nikolaevich government, Western countries reached an agreement with the Russian Federation in January this year to extend the debt formed before January 1, 1991 and should be repaid between December 1991 and March 1992.

In other words, Western countries only gave the Russian Federation and his dear Mr. Nikolaevich a three-month respite period. Starting from March 1992, the Russian Federation had to pay the principal and interest of the debt.

Now that March is over, Gaidal is worried about losing his hair when facing the empty treasury and the rouble with a plummeting exchange rate.

Not to mention repaying the principal, even the interest cannot be paid!

The only thing he can do now is to continue to borrow money, no matter where the money comes from or what price he needs to pay, as long as he can borrow money.
Chapter completed!