Chapter 103

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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One Country, Two Systems.

A principle first proposed by Deng Xiaoping, who was China’s leader.

It meant coexisting two different systems within one nation.

What is that one nation?

It’s the People’s Republic of China.

Within that, two different systems would be laid down.

Creating so-called Special Administrative Regions to maintain Hong Kong and Macau’s existing capitalist systems, laws, economic, and social systems.

It was a principle devised to peacefully receive Hong Kong and Macau—which had different systems from the mainland due to British and Portuguese rule—back to China, and further to unify Taiwan.

“This condition was for 50 years, right?”

“Yes. Maintaining One Country, Two Systems until 2047 was the negotiation content with Deng Xiaoping. Thanks to that, the system has been well maintained until now.”

It was China’s intention to maintain One Country, Two Systems for 50 years.

Because they knew that forcibly inserting the communist system into Hong Kong, which was living in democracy under British rule at that time, would cause great shock and backlash.

“At that time, China was pursuing an opening policy and improving relations with Western countries, and Hong Kong was serving as an international gateway as a financial hub. If they had pushed by force, there would be no Hong Kong today representing Asia as a financial hub.”

China couldn’t recklessly crack down on Hong Kong like usual.

While actively opening up China through trade liberalization, forcing Hong Kong with military power would have attracted negative international attention.

Also, Deng Xiaoping, who needed to introduce a new system to absorb independent Taiwan, created One Country, Two Systems considering Taiwan’s occupation.

“China probably wants to beat Britain to death. After all, Hong Kong became like that because of the Opium War caused by Britain.”

The Opium War that occurred during the Qing Dynasty.

British merchants indiscriminately spread opium to make money, and when they received sanctions from the Qing Dynasty, they didn’t stop there and brought the British army to invade.

The Qing Dynasty, unable to withstand Britain’s overwhelming firepower, declared surrender, and through that humiliating treaty called the Treaty of Nanjing, Hong Kong was handed over to Britain.

As always, if you pick Britain for events in modern history, you’re usually right.

“But thanks to that, China obtained Hong Kong, Asia’s greatest financial hub, so it’s ironic.”

Such a China suddenly started keeping Hong Kong in check.

“It’s because looking at Taiwan rejecting One China now, Hong Kong is taking the same gesture.”

Taiwan’s influence was great in changing China’s stance on Hong Kong.

Taiwan strongly rejected One China while electing a new prime minister.

Seeing the previously pro-China public opinion in Taiwan changing, Hong Kong is also gradually having these thoughts:

Why should we be under the Communist Party’s rule and oppression?

“Actually, I think it’s a natural phenomenon. Among people living in liberal democracy, no one wants to transition to communism.”

That was the problem.

If someone who’s tasted democracy is told to transition to communism, how many would welcome it?

The Chinese government also knew this.

That’s why they’re trying to approach carefully.

“What’s problematic this time is this Extradition Law. Initially Hong Kong was quiet, but they’re gradually resisting now after learning about the true nature of this law.”

The Extradition Law.

Just looking at the name, there doesn’t seem to be a big problem.

What’s wrong with extraditing criminals?

But if you look inside carefully, you can understand why pro-China forces within Hong Kong are trying to push this law.

“Normally, if there’s a problem overseas, regardless of that person’s nationality, you first apply that country’s laws, right? There are also complex procedures to go through until criminal extradition.”

People don’t flee overseas after committing crimes for nothing.

Once they cross overseas, things get extremely complicated and it’s not easy to forcibly bring them back.

“But if this law passes, even if there’s no problem under Hong Kong law, the moment the Chinese government brands someone a criminal, they can be forcibly taken away regardless of Hong Kong law.”

“They have every reason to resist.”

“Yes. They say the resistance is stronger than expected, calling it a law that ignores One Country, Two Systems.”

The reason for opposing this law is simple.

From now on, the moment you say something bad about China in Hong Kong, you might disappear without a trace.

Until now, Hong Kong was guaranteed independent judicial authority separate from mainland China.

But China is trying to break that.

“Especially what’s concerning is capital flight. The reason Hong Kong has been properly functioning as a hub is because of its unique characteristic as a gateway connecting to China and the lenient financial regulations following English-American law, isn’t it?”

If you were to pick the representative financial hubs of Asia, there are two places.

Hong Kong and Singapore.

The characteristic of these two is that financial laws are somewhat loose following English-American law.

They’re also generous on the most sensitive tax rates.

“Our country imposes taxes on income earned overseas, starting with progressive taxes, but Hong Kong is different. Especially for progressive taxes, there’s a difference of over 30%. In many ways, it’s much more profitable to put capital in Hong Kong.”

“So the advantage is that while taxes aren’t exempted, they’re significantly lower than elsewhere?”

“Yes. And it’s also the only passage to enter that difficult Chinese market.”

That’s why most thought the Chinese government was just testing the waters.

“This law can also be seen as a test in a way. They’re trying to check what the perception of Hong Kong people is currently.”

“So they don’t really intend to pass it, just checking public sentiment?”

“Yes. That’s how everyone sees it. The Chinese government also doesn’t seem to intend to do anything by force.”

This would be normal thinking.

But you shouldn’t think of China in normal terms.

Isn’t it going against this 21st century with a communist system, controlling a population of hundreds of millions with iron-fisted rule?

And my intuition also showed me the sight of the Chinese government crushing the Hong Kong protesters with force. In other words, the Chinese government has decided to beat Hong Kong down with clubs.

“When the Chinese government tries to forcibly push the law even if Hong Kong citizens oppose it, please write a report on what will happen.”

At that, employees looked at me with surprised eyes.

“Are you saying you think the Chinese government will take a hardline approach, President?”

“Yes. Aside from passing the law, don’t you think the Chinese government will try to properly crack down on Hong Kong this time?”

“But if they do that, they’ll have to worry about international capital flight. Also, protesters will swell enormously. To the point where France’s Yellow Vest incident will look like child’s play.”

“And if China really uses force to suppress, Taiwan will also think differently. Public sentiment toward Taiwan’s current prime minister is very bad. But if they see China ruling Hong Kong by force, won’t anti-China sentiment strengthen?”

Every word was right.

Deng Xiaoping didn’t push One Country, Two Systems for nothing.

And it was a very good strategy.

Especially in Taiwan, public opinion toward the current prime minister is not good.

Not only was TSNC’s collapse significant, but public opinion grew stronger asking why they were picking a fight with China and harming the country.

If China controls public sentiment well like this, from Hong Kong to Taiwan.

They could slowly swallow them up while maintaining One Country, Two Systems.

But as I said earlier.

You shouldn’t view China rationally.

“When making the report, please also bring data about how much foreign capital will flow out.”

“Ah, yes. I’ll prepare it immediately.”

If the vision my intuition showed is correct, China has already prepared for foreign capital outflow. Then where will that money flow?

Singapore, which handles another Asian financial hub.

But… suddenly a thought occurred to me.

‘What if we could bring all that capital to our country?’

Then couldn’t we become the financial hub representing Asia instead of Hong Kong?

————————————————————————————————————————

“Wh-what is this? They’re really going to do this?”

If lightning strikes from a clear sky, it would feel exactly like this.

No. Honestly, I thought a day like this would eventually come.

“But this suddenly?”

“Yes. After the EU declared No-deal Brexit this time, they officially announced their position. They said they’ll implement antitrust law against Gwangwoon, which is currently exercising excessive influence.”

The EU has something called Competition Law.

This is the antitrust law, where if a specific company dominates one field excessively and disrupts the market with that influence, sanctions can be imposed under the Competition Law.

“The problem is not only the EU but other countries are also riding on it to sanction our Gwangwoon Shipping.”

Now that the EU stepped up, other countries that wanted to speak up but couldn’t are one by one riding on the EU to pressure Gwangwoon.

“……”

Kim Du-young closed his eyes tightly for a moment.

What was coming finally came.

How much profit had they pocketed while dominating the shipping industry until now?

They brought down the massive semiconductor industry called TSNC, caused chaos by preventing countless companies from running servers, and ultimately economically sank Japan.

Actually, it was remarkable that they had been operating well without sanctions until now.

It was all thanks to Jeong Jin-ho’s miraculous management, but has that also reached its limit now?

“This… isn’t this something beyond what we can handle?”

“If we say we’ll immediately cut off all shipping industry to Europe, this… could spread to national diplomatic issues. Looking at the intensity of statements coming from over there, they seem ready to dispatch warships.”

It’s not just the EU.

Even countries that had been grinding their teeth at Gwangwoon are stepping up to pressure our government.

“So it’s beyond what our government can block?”

“Isn’t it a sensitive time with North Korea talks? Plus, if so many countries simultaneously pressure like this, no matter how much Gwangwoon has done for us, the government will have no solution.”

The government would also want to protect Gwangwoon.

Isn’t there a saying like this?

He who commands the sea shall command the world.

That famous quote pierces through this current era.

But forcing antitrust law on Gwangwoon and splitting the shipping business is no different from losing the power that commanded the sea.

“Sigh.”

Is there no way?

Eventually, Kim Du-young stood up from his seat.

“Wh-where are you going?”

“Where else? I have to go to Zhuge Liang.”

“Pardon? Ah……”

Who would Zhuge Liang be?

The executives understood right away.

Because there’s only one person who grew this Gwangwoon this far.

————————————————————————————————————————

“There’s absolutely no way I can figure out what to do about this.”

President Kim Du-young came to us with a face that was half-dead.

Hyung-nim was silently pouring drinks for President Kim.

“So. Those big-nosed guys want to shatter our business and take it for themselves?”

“Yes. They even made statements that if we don’t comply, they won’t let it slide and will escalate it to a diplomatic issue.”

I had also heard roughly about the situation before President Kim Du-young came.

Starting with the EU, various countries had drawn swords against our Gwangwoon Shipping.

“What does the government say?”

“Our government also can’t do anything. Because it’s true we’ve been monopolizing shipping all this time.”

“Then we have to split our business?”

“Yes. Long ago, Rockefeller was also forcibly dismembered. We’re in the same situation.”

Hyung-nim also seems troubled.

Today, he’s just drinking soju straight without any appetizers.

“What should we do, President Jeong? This… if we don’t split our business, they’re even saying they’ll use force to make us.”

“Surely they won’t actually use force, but… the problem is that if we stubbornly resist, President Kim will be in danger. The EU is already trying to proceed with legal process, isn’t it?”

“Yes. It looks like they’ll detain through international law. But Chairman. Am I afraid of just going to prison? The company is more important to me than my personal safety. How did you and President Jeong build this shipping company? To split it.”

This isn’t a joke.

President Kim might really go to prison.

And if the damage grows larger, even our hyung-nim will be in danger.

“That absolutely cannot happen.”

“No. President Jeong. I’m fine. Really. If our shipping can continue like this and grow bigger, I don’t mind rotting in prison. I mean it.”

President Kim Du-young says things like this sometimes whenever he meets me.

That he’s living his second life.

If I hadn’t recruited President Kim back then and given him a position, he would have already grown old alone in some corner and died lonely.

So he’s been saying he’s confident to do anything for the company.

“……”

But even so, we can’t send someone to prison.

I was also angry but also thought it was a natural sequence of events.

Because as shipping’s size grew exponentially, it wielded influence in all directions.

That’s why antitrust law exists.

If one company monopolizes one field, especially if they control shipping, they can wield enough power to topple nations.

‘Still, it’s bitter.’

Even so, to forcibly split a company we painstakingly built.

Today, soju keeps going down one after another for me too.

What should I do about this?

Should I completely give up shipping like this?

“First, here are the conditions they’ve presented. This is a report on how much we need to split.”

I took and opened the materials President Kim handed over.

At that very moment.

“!?”

The moment I opened the report, it felt like a giant fist struck and passed through me.

And what I see is a scene where all ships can’t go anywhere and are all tied up only at ports.

There’s no work.

“Oh my. President Jeong. Are you okay?”

“Jin-ho. Are you drunk?”

When I dropped the report and staggered, hyung-nim next to me caught me.

“N-no. I’m fine.”

That image just now was clearly……

“Shall we cleanly dump everything?”

“Hmm? Cleanly dump? What?”

“The shipping business. They’re asking for it, so let’s give them everything. In return, we get a big price.”

At that, President Kim Du-young made a tearful face.

“President Jeong. If this is because of me, you don’t have to. Don’t I know what this shipping business means to President Jeong? You were trying to control the seas with this to grow Gwangwoon. So I’ll go to prison. Don’t worry.”

“People come before money. Don’t even say terrible things like prison.”

“P-President Jeong!”

President Kim Du-young, contrary to his rough-looking appearance, hugged me while crying profusely.

“Y-you don’t have to do this……”

I quickly tried to push him off, but he was also a big person, so it was impossible with my strength.

So I was forced to embrace President Kim Du-young.

‘……?’

Then once again an image flashed through my mind.

‘This is—’

It was the image of President Kim Du-young being elected as Chairman of Gwangwoon Shipping Group with a beaming smile.