Since international commodities are actually controlled by about twenty ** traders, they have an offensive and defensive alliance, with large investment banks, hedge funds and many gray-source investments, so it feels quite easy to penetrate and can't be inserted into it, and it's difficult for outsiders to get in. Taking international basic metal trading as an example, the trader that controls the largest share of resources is called Glencore. It was founded in 1974. What is surprising is that the founder himself was wanted because he was a US citizen but was engaged in business with many countries that were hostile to the United States at that time. After he went abroad, he simply opened this company in Switzerland and continued to fight with the public enemies of the United States.

Now Glencore has the ability to call the wind and rain in the world commodity market. It controls about 60 metal zinc, about 50 zinc concentrate, about 50 metal copper concentrate, about 30 copper concentrate, about 38 alumina, about 22 alumina, about 23 cobalt, and about 28 thermal coal exports. In addition, the company's daily oil sales account for about 3 of the world's daily oil consumption. As a result, Americans found that they could not easily move the company, otherwise it would cause huge international turmoil. Therefore, President Clinton of the United States had to pardon the founder's guilt on the last day of his term of office and acquiesced to help the United States do something that cannot be made public.

Glencore also knows how to repay the favor. After the founder was amnesty, he automatically sold the ownership to the management and stepped back to the scenes to command. Since the company's ownership changes in 1994, its operations have been booming and continuously profitable, setting a record for continuous growth in the longest cycle of commodities. In the past decade, Glencore's average annual return on equity has reached 38. During the financial crisis between 2005 and 2006, few companies were able to publish such performance lists, which looked particularly dazzling.

Yang Xing presented a secret business information at the meeting, which showed that Glencore is currently negotiating a merger with Strata, which ranks among the top five in the industry in copper, thermal coal, coking coal, railway, zinc, nickel and vanadium. Once successful, the new group will have the world's largest commodity trader, marketer and have multiple identities as a leading industrial mining and metal asset portfolio business. It is a monopoly position in the competition of the entire industrial chain and is an absolute commodity giant.

Hearing this news, the experts at the conference all expressed heavy expressions. In the China Copper Reserve Incident that happened not long ago, everyone agreed that the mastermind behind the scenes was Glennen. Even if the country took out a large amount of reserve copper for auction, it would not be possible to defeat the soaring copper price driven by Glennenc. If it goes up to the ground now, wouldn't it be more important to rely on him to live?

Yang Xing did not go to the bottom of the question and explained which is right and wrong in the copper storage incident in China, but said that this is a great opportunity. In the past, commodity traders were reluctant to go public in order to maintain their identity, but the world economic pattern has undergone major changes in the past decade, and many traders have also made changes in order to cater to this change. The biggest change in the world economy refers to the rapid industrialization and urbanization process of emerging countries such as Asia, Africa and Latin America, which has formed a huge demand for commodities. There is currently a saying about "commodity super cycle" circulating in the market, believing that as long as the rapid economic growth of developing countries such as China does not end, the long-term bull market for commodities will not end.

The trend of commodity rising for more than ten years has made people jealous and has attracted more attention from outsiders. After 2000, Goldman Sachs in the United States and Marubeni in Japan have begun to enter the oil and agricultural products field. Although Glencore is rich and publicly announced that "no company or group of the same level can directly compete with it." But now there are many challengers in the three types of physical commodity marketing fields, indirectly or directly competing with Glencore, making it feel thorny.

These include Cargill, agribusiness, and Vitor Petroleum, agribusiness, and major oil and metal producers and processors, such as Total, BP and BHP. The business is currently limited to small marketing companies in specific commodities and regions, but is growing.

Therefore, Glencore changed its course and was preparing to go public internationally (IPO). Yang Xing believes that this is a great opportunity for domestic companies to intervene in the commodity market. At present, as long as China does not stop growing, relying on the huge domestic market, its desire for commodities will not stop, and the momentum to drive its long-term price rise will not be lost. If China Investment Corporation, the agencies of the State Administration of Foreign Exchange, and the National Strategic Reserves Bureau and other units join hands to invest in Glencore, even if it cannot obtain controlling rights, it can ensure that the stock price will rise.

In addition, Yang Xing reminded Glenn that once merger with Strata, it is likely to form a market structure where strong alliances and monopolize one party. However, its main competitor, Vido Group, Switzerland, which has a significant overlap with Glennnn, will not find a way to save itself in the face of pressure. Yang Xing said that as long as he takes the opportunity to lobby them and let them choose an IPO plan, it will be time for the country's foreign exchange reserves to show off his skills as soon as it goes public.

As long as they break the private company of commodity traders, they can earn shares and become major shareholders when they go public, which will be of great benefit to domestic commodity trading in the future. No matter how the international market prices change, the price rise can get dividends from the traders who hold shares, and the price drops can better lower the price imports. This practice of making up for losses outside the dike and making up for internal dikes in the dikes. Why can't we learn from it?

This method of leveraging the participation of commodity traders to gain the advantage of pricing power has indeed refreshed the participants. At this conference, everyone had a broad consensus on having high foreign exchange reserves, most of which were US financial assets, which was not conducive to national security, so there was a proposal to exchange US bonds for overseas resources or assets. However, the international resource field has long been divided up by large Western companies, and China could only find resources in remote areas such as Asia, Africa and Latin America. This was also accused by the outside world of "neocolonialism" that only cares about minerals and human rights.

Moreover, the large resource mining companies abroad will not wait for China to catch up and compete and continue to use various secret tricks. CNOOC failed to acquire Unico, the pipeline for Russia to use Far East oil and gas resources to transport China was tempted by the Japanese with high funds. The negotiations with the country over the years have not been achieved. In addition, the long-term game between the other three iron ore companies and domestic steel companies is well known, and behind this, the clutches of multinational resource enterprises are revealed.

Although Yang Xing was born in this life, he was digging iron ore coal mountains in Australia, and acquired the largest steel group in Europe, and obtained the qualification for iron ore pricing negotiations. He still could not prevent the steady rise of international iron ore prices. It can be seen that even if real money is spent on buying overseas resources, it will not be smooth sailing. It is always necessary to prevent people from stumbling.

If the current commodity market system cannot be overturned, joining the team of commodity traders is undoubtedly the fastest and least risky way. Just like the country has obtained a certain gold pricing power now, Yang Xing tried every means to obtain a seat in the London Gold Pricing Committee for China, and has also started to produce gold, alchemy, deposit price and final sales links. Now the State Administration of Foreign Exchange will secretly use US dollars to exchange gold in the international gold market every once in a while, causing the proportion of gold in the national foreign exchange reserves to continue to rise. Although it is still not as good as that of the two-thirds of the foreign exchange reserves in the United States and Germany, it is greatly improved compared to the situation where less than 5 of the foreign exchange reserves in the country were gold in the previous life.

Now the United States and Europe are in a deep economic crisis. As a means of hedging and preserving value, the US dollar and the euro are not favored by investors. They have turned to a relatively stable international precious metal market represented by gold, causing the prices of gold, silver, platinum, etc. to soar. The gold price has soared from around 2000 US dollars in 2000 to more than 1,000 US dollars today. The goal of preserving and increasing value of gold reserves in China's foreign exchange reserves is easily completed. Yang Xing, a behind-the-scenes hero, has also received a lot of benefits. The gold mines in South Africa, Australia and other places are still in short supply. The hundreds of tons of gold bricks in the underground warehouse of Sky Star City are even more expensive. People who ridiculed Yang Xing's move regretted it and admitted that they were completely out of sight.

After locking in the commodity traders who want to join, Yang Xing proposed to use foreign exchange reserves to buy the bottom overseas this time, and to promote Shanghai, Hong Kong, Macau and other international financial centers. After the United States launched the Wall Street Reform Act, its influence was no longer limited to the United States, but spread to the whole world. Europe and the United States coordinated their positions and discussed major adjustments to the Basel Convention, which is the international banking industry standard. The main contents include raising the core capital adequacy ratio of commercial banks and placing risk-preventing capital. At the same time, it will introduce rigid requirements such as leverage ratio, current leverage ratio and net stable fund source ratio to reduce liquidity risks in the banking system and strengthen its ability to resist financial risks.

Since the agreement is an international banking regulatory standard, domestic financial institutions that are preparing to join international competition must also abide by it. Given the high standards, domestic banks, including the four major commercial banks, are feeling obvious pressure, Yang Xing previously proposed to use foreign exchange reserves to reduce the burden on these financial institutions for this reason. Because Western countries have significantly tightened regulatory policies after the financial crisis, compared with New York and London, which have strict supervision, financial companies have begun to prefer to develop in Hong Kong and Singapore, which have relatively loose supervision.
Chapter completed!