Chapter 395: This Is A Sorrow
Lin Ran was very clear about Old John Morgan’s background.
In this timeline without him, the other party worked on Wall Street until the 1990s, over twenty years.
Because of the Morgan surname, he never stayed at the grassroots level at all; at worst, he was a VP.
Even though he failed in the competition for the Morgan family leadership in the 1990s and retired early to become a thorough dandy, he couldn’t resist his instincts and experience being there.
Plus, in the 1990s, Soros stirred up trouble in Asia and Europe, and the Morgan family followed behind eating meat plenty.
Soros only drank soup; Morgan ate meat.
This operation on 4v was comparable to a precise surgery, with each move not fatal but precisely bleeding.
“Professor, our coordination is a bit too perfect. I feel like we should have met earlier.
If we had met earlier, we might have created even more and bigger victories.”
Old John Morgan raised his glass water cup and sighed.
When you win a complete victory, even drinking water feels like drinking whiskey.
He felt Lin Ran was simply amazing; he just stated the general requirements, and Lin Ran delivered the perfect assist.
Whether it was transmitting signals outward through the Chinese Academy of Social Sciences, or using agricultural products as an excuse to ban pineapple exports in the middle, or the perfectly timed threats and movements in the final stage, he just mentioned the general effect to achieve, and Lin Ran grasped the movements and degree needed for that effect perfectly.
Old John Morgan thought to himself, if he had such a partner back then, why would he have to follow behind Soros? He could have opened his own game entirely.
Lin Ran thought to himself, yeah, if we had met in the 1960s, we would indeed have been a seamless perfect partnership in jointly hollowing out America on that matter, done quite thoroughly.
This refers to during the Vietnam War, profiting massively by being suppliers to the American army, the privileges of Washington bureaucrats and American financial magnates.
“Professor, I was too naive in the past. Even at my age, I’m still too naive on many things.” Old John Morgan continued.
Lin Ran raised an eyebrow: “Oh? You? Old John, naive? I can’t imagine you connected to that word at all. It’s as ridiculous as a tiger in the forest saying it doesn’t like eating meat.”
Old John Morgan said: “Anyone with eyes can see that this behavior was orchestrated by Wall Street single-handedly. I even went to Taipei personally to explicitly tell them they cannot use administrative means to interfere with financial independence.”
Lin Ran chuckled lightly: “Heh, cannot use administrative means to interfere with financial independence—actually, it’s that we’re harvesting and you cannot resist.”
Old John Morgan showed no embarrassment on his face: “Professor, we can do this, but we can’t say it that way.
Anyway, we’re openly going to slaughter them hard. I know they don’t dare resist, but at least they could show some anger, right?
Do you know what their first reaction was?”
Lin Ran replied without thinking: “Of course I know. Their first reaction must be, did we do something not good enough? Did we upset Washington? We’ll fix it right away! Need to increase the budget? Okay, we’ll increase it. Need to buy more weapons? Okay, we’ll buy! Need to increase TSMC’s investment in America? Okay, we’ll do it.”
Old John Morgan’s expression stiffened after hearing this: “Professor, you got it exactly right. That’s their reaction.
Even the conditions you proposed match exactly what they said at the time.
I finally understand why, after you proposed such a deal, not a single White House official opposed it.
Turns out they all know that no matter how we treat them, they won’t refuse to be America’s porcupine.
This really opened my eyes. There’s actually such a place in the world where we can have whatever we want.”
Old John Morgan’s tone was like discovering a new continent, with gold mines waiting for him to mine on this new continent, his eyes gleaming with greed.
Lin Ran felt a bit uncomfortable inside, but more so sorrow.
The uncomfortable feeling quickly passed. He knew that to prevent similar things from happening again, what he was doing was very necessary.
Lin Ran picked up his water cup and took a light sip; the water in the cup seemed to carry a bit of whiskey’s spiciness.
Looking at the greed on Old Morgan’s face that he couldn’t hide, the bleak feeling in his heart not only didn’t dissipate but grew even stronger.
“Old John, the complexity of this land is beyond your imagination.” Lin Ran’s voice was light but carried an indescribable heaviness. “What you see is just the tip of the iceberg. You think they are lambs we can take from at will, but in reality, they have long been accustomed to playing this role. They are not without the ability to resist, but they have chosen not to resist.”
Old Morgan shook his head dismissively: “Professor, I don’t like hearing that. What do you mean ‘accustomed’? This is the art of survival. They are smart, knowing the price of resistance and the benefits of compliance. Look, we only touched a bit of their fur, and they are eager to offer more. This kind of deal is just paying money to avert disaster for them.”
Lin Ran didn’t refute, just smiled self-mockingly: “Paying money to avert disaster? If a place, every time you go to it, eagerly gives you money, would you still think it has dignity? Would you still think it’s an independent entity? You’d only think it’s an ATM you can withdraw from at will, a fat pig you can slaughter casually.”
Old Morgan’s eyes grew even hotter: “Professor, that’s the naivety I’m talking about. Are you feeling sorrow for them? Uncomfortable with our complete victory? Isn’t this exactly what we’ve always pursued? We’re all pursuing profit maximization. They cooperate willingly, so we gladly accept. What’s there to be sorrowful about?”
Lin Ran set down his water cup, leaned forward slightly, his tone turning serious: “Old John, you only see their compliance but ignore the price behind it. A place that has lost dignity and self becomes extremely vulnerable. Today you can take whatever you want here.
Lin Ran didn’t continue.
The smile on Old Morgan’s face gradually faded. He looked into Lin Ran’s eyes, trying to find a hint of joking, but ultimately saw only seriousness and depth.
“Professor, you don’t seem happy.” Old Morgan said. “Are you regretting it?”
Lin Ran shook his head: “I’m not regretting it. Because I know, to avoid such tragedies happening again, I must personally expose it. Only by letting everyone see that the so-called freedom is backed by such naked interest exchanges, such ugly reality, can they possibly wake up.”
Old John Morgan said, “Professor, first of all, this isn’t ugly; it’s superb art. It’s no different from any craft.”
Lin Ran felt somewhat helpless. This was why he felt like unmelting ice when in the White House—although trained there, his core thinking remained Chinese, remained China’s.
Even though the target this time was, Lin Ran couldn’t truly view everything happening with ruthless detachment.
Whether it’s a perfect art performance or a bloody slaughter depends on your perspective. Even as the scriptwriter, Lin Ran couldn’t completely abandon the victim’s perspective on this event.
“Of course the chess players think it’s art, but the pawns hardly think it’s art.” Lin Ran said.
John Morgan said flatly: “Professor, we are players, not pawns. When you’re a pawn, you need to find a way to become a player.
I’ve always thought Europe’s politicians clearly had a chance to be players.
Ukraine is a pawn; they should be players, but as this game went on, Ukraine became a player, and Europe became the pawn.”
Old John Morgan’s tone was full of disdain for Europe.
He continued: “Professor, I think you’re overthinking. That’s for politicians to consider.
Washington knows Yanjing’s calculations well, and Yanjing knows Washington’s calculations well.
Big T and the Donkey Party bunch are different; he’s even different from the Elephant Party bunch before.
He only wants to accumulate enough capital for his family during this term, whether political capital or financial capital. As for consuming America’s accumulated credibility from the past, he doesn’t care.
I used to think, would they still be willing to be porcupines after we treat them this way? Probably no such place in the world.
Even with Russia, we could pit them once, twice, but no third time. The third time, Russia resolutely chose to leave America’s embrace.
But that region, we’ve betrayed them before, and now harvesting them with such means, they still willingly accept it, wondering if they did something not good enough.
A pig only becomes threatening enough after slimming down and growing full spines.
I previously thought the White House bureaucrats had given up on them, but now it seems I didn’t understand enough. They seem imprinted with a thought imprint; America in that region has become a kind of faith.
Old John Morgan’s eyes were like discovering a rare treasure. A place in the world where Americans can take whatever they want? Too perfect.
Under Old John Morgan and Lin Ran’s “cooperation,” the situation developed as they predicted.
In April, under the precise manipulation of Wall Street financial capital, Taiwan Stock and the bond market continued to fall.
Although TSMC’s stock price rebounded somewhat, related stocks in the overall semiconductor industrial chain kept declining, with panic spreading in the market.
The 4v side, while appeasing the public, urgently sought countermeasures, only to find themselves trapped in an inescapable dilemma.
Entering May, Old Morgan’s harvesting operation grew even fiercer.
He ordered his funds to continue short selling industries strongly linked to the local economy, including shipping, electronic components, and tourism.
Combined with the further impact of tariff talks, global regions imposed tariffs, with 4v adding higher than their direct competitors Japan and Korea, making the short-selling wave even more surging.
Most importantly, the entire region from companies to individuals lost confidence in the economy, believing their economy was done for.
Old John Morgan’s actions, though seemingly non-fatal, were like precise scalpels each time, cutting and bleeding the arteries of their economy.
Each time the authorities tried to stabilize the market by releasing positive news, after release, the short sellers would immediately counterattack, turning all efforts to bubbles.
In June’s Tokyo, Japan’s Finance Minister Kato Katsunobu met Old John Morgan in a private club, both tacitly discussing this cooperation.
Right, with America the foster father giving a beating, Japan the big brother also got a share.
“Mr. Morgan, your methods this time are truly eye-opening.” Kato Katsunobu picked up his teacup, gently blew the steam, eyes showing admiration. This old guy, according to American lobbying institutions’ news, had been retired for years—how was his comeback still so sharp and direct?
Kato Katsunobu felt more worry inside: if you can do this to them, does it mean you can do it to us? Could it be that Japan has been fattened up, and another Plaza Accord is coming?
Old Morgan wore his signature smile: “Minister, this is just normal fluctuations in the financial market. We follow market rules. Their economic fundamentals have issues; we just saw the risks early.”
“Risks? Mr. Morgan, you know full well that’s not risk—that’s what you created with your own hands.” Kato Katsunobu’s voice turned serious: “In just two months, their stock market evaporated over twenty percent of market capitalization. Many quality companies became your possessions. If we hadn’t prepared in advance, Japanese companies would have suffered huge losses too.”
“So you should thank me even more.” Old Morgan raised an eyebrow, tone smug. “We’re helping Japan clear risks, letting you invest more safely.
Moreover, we’ve made the porcupine even more porcupine, haven’t we? They now depend more on America and are more willing to spend money on weapons.”
Kato Katsunobu didn’t respond; he understood Old Morgan’s implication.
America’s financial capital’s harvesting of 4v made them more eager to show loyalty to Washington and more willing to follow America’s strategic deployments, including buying more weapons.
Short selling is one round of bleeding; using tax revenue to buy weapons is another round; the ongoing tariff talks are the third round; forcing them to invest real money in America is the fourth.
After four rounds of bleeding, no country could withstand it.
Kato Katsunobu felt the Americans’ methods this time were too vicious—far harsher than forcing Japan to sign the Plaza Agreement back then. He couldn’t imagine how they offended Washington, and more importantly, Yanjing’s shadow loomed faintly behind, making Japan even more panicked.
If Washington and Yanjing reach a deal, what if the next harvesting target is Japan? Can Japan resist? Probably 100% cannot.
The president knows he holds unprecedented power through tariff talks. Similarly, Old John Morgan, this Special Assistant for East Asian Affairs, leveraging his Morgan and Adams background and China’s subtle shadow, has become the most powerful Special Assistant for East Asian Affairs in history. In four years, his status in Tokyo won’t be weaker than MacArthur’s.
The top-down effect always comes quickly.
America’s behavior has both benefits and drawbacks for Japan.
The benefit is that America’s influence in East Asia is strengthened; the drawback is that Japan’s own influence in 4v is being weakened.
“Mr. Morgan, we all know this action has the White House’s tacit approval.” The Finance Minister said straightforwardly. “But do you really think this kind of deal sacrificing allies is sustainable? Today you can take whatever you want from them; tomorrow? If you need Japan’s car manufacturing, what will you do? Continue cooperating with China, or come straight at us?”
Old Morgan’s smile finally disappeared; he looked coldly at the Finance Minister.
He knew the other had seen through the essence of this action: not just financial harvesting, but a geopolitical strategic layout.
“Kato, you’re overthinking.” Old Morgan’s voice lowered. “We are allies; we have common interests. Everything we do is to ensure our shared future. Japan is far more important than them.”
Kato Katsunobu didn’t respond; he knew Old Morgan’s words were both a promise and a threat.
Kato Katsunobu felt he was facing one of the most complex international relations challenges since taking office. Which past minister had experienced this?
This reminded him of his colleague: negotiator Akazawa Ryosei, during talks with Besent, Big T actually personally went to the meeting room, directly and nakedly saying what he wanted and that they had to give it.
Never encountered such a scene before.
Kato Katsunobu felt he’d run into this once-in-a-century special situation—really unlucky.
“Kato, as I said, the White House’s strategy is to ensure our shared future.” Old Morgan said, tone carrying unquestionable authority. “Japan still needs to become a bridge between us and China, a bridge for technology exchange.”
Kato Katsunobu sat upright, hands clasped; he felt the main act was coming.
America taking whatever it wants from 4v—surely it won’t have no demands on Japan?
What conditions would this unprecedentedly greedy East Asian assistant propose?
“We have fully communicated with the White House and our semiconductor companies.
Allow Japan to export semiconductor technology to China, mainly in a few non-core but important-to-China fields.”
Old Morgan paused, then began listing:
“Equipment and materials for mature process chips, referring to semiconductor production equipment for 28 nanometer and above processes, such as older models for photolithography, etching, and deposition. Though progress for China, compared to TSMC’s most advanced 3 nanometer or even 2 nanometer processes, it’s already a generation or two behind.
Some advanced packaging technology, in the backend of chip manufacturing. We agree to allow Japanese companies to provide China with some advanced packaging technology, which can improve chip performance but cannot fundamentally change chip integration or computing power.
Non-cutting-edge chip design software: we will relax export controls on certain EDA software, but limited to designs for non-cutting-edge processes, such as IoT and automotive electronics. The most advanced EDA tools, especially for 7 nanometer and below processes, remain strictly embargoed.
For automation and inspection technology in semiconductor production lines, allow Japan to provide China with non-core technology for production line automation and quality inspection. These can help improve their production efficiency but cannot break core technical bottlenecks.
Finally, a few semiconductor materials: allow Japan to export certain non-core semiconductor materials to China, such as special compound semiconductors for communication equipment and some industrial applications. These can help China achieve self-sufficiency in specific fields, but they are not key in high-performance computing and AI chips.
“These technologies,” Old Morgan summarized, “can help China achieve self-sufficiency in some non-critical fields, easing their issues, while also letting Japanese companies gain huge profits and reactivate your semiconductor industrial chain.”
After hearing this, joy appeared on Kato Katsunobu’s face. He knew this was not just using Japan as a middleman to provide token technology to China, but also loosening bindings on Japan’s semiconductors.
But he was puzzled inside: giving so many tokens makes them no longer tokens.
With so much technology, once China masters 28nm lithography machines, with China’s production capacity, can other countries’ semiconductors still compete?
You’ve given so many tokens, enough for a full meal.
He suspected maybe Old John Morgan was acting on his own. Are you Washington’s Special Assistant for East Asian Affairs or Yanjing’s? Kato was full of doubt inside.
