Chapter 103
Chapter 103
Translation: Godtl
One Country, Two Systems.
It was a principle first proposed by Deng Xiaoping, China's former leader.
The concept meant allowing two different systems to coexist within a single nation.
What was this single nation?
The People's Republic of China.
The idea was to implement two distinct systems within it.
Namely, by establishing Special Administrative Regions that would allow Hong Kong and Macau to maintain their existing capitalist systems, legal frameworks, and socio-economic structures.
This principle was designed to peacefully reintegrate Hong Kong and Macau—which had developed different systems under British and Portuguese rule—back into China, and ultimately to pave the way for Taiwan's unification.
"And the condition was for 50 years, correct?"
"Yes. The agreement with Deng Xiaoping stipulated that the 'One Country, Two Systems' framework must be maintained until 2047. Thanks to that, the system has been preserved intact until now."
China's intention was to maintain this dual system for fifty years.
They were well aware that forcibly imposing a communist system on Hong Kong, which had been living under British rule and democracy at the time, would provoke severe shock and backlash.
"Back then, China was implementing its open-door policy and improving relations with Western nations, and Hong Kong was serving as an international financial hub. If they had resorted to force, the Hong Kong we know today as Asia's premier financial center wouldn't exist."
China couldn't just recklessly crack down on Hong Kong as it usually did.
Using military force to suppress Hong Kong while China was opening up through trade would have drawn unfavorable international attention.
Moreover, Deng Xiaoping—who needed to introduce a new system to eventually absorb Taiwan—devised the "One Country, Two Systems" principle with Taiwan's eventual unification in mind.
"China probably wants to throttle Britain. After all, Hong Kong ended up that way because of the Opium War, which Britain started."
The Opium War during the Qing dynasty.
British merchants, seeking profit, indiscriminately flooded China with opium. When the Qing government imposed sanctions, Britain didn't back down—instead, they brought in their military and launched an invasion.
The Qing dynasty, unable to withstand Britain's overwhelming firepower, surrendered. Through the humiliating Treaty of Nanjing, Hong Kong was ceded to Britain.
As always, if you point to any major event in modern history, Britain's fingerprints are usually all over it.
"But ironically, thanks to that, China gained Hong Kong—Asia's top financial hub."
Yet now, China has suddenly begun tightening its grip on Hong Kong.
"It's because they're seeing Taiwan reject the 'One China' policy, and Hong Kong is starting to make similar gestures."
Taiwan's influence significantly shifted China's stance toward Hong Kong.
Taiwan elected a new leader who vehemently rejected the "One China" principle.
Watching Taiwan's pro-China sentiment shift, Hong Kong is gradually starting to wonder:
Why should we endure the Communist Party's rule and oppression?
"Honestly, it's a natural phenomenon. No one living in a free democracy would willingly choose to transition to communism."
That was the problem.
How many people who've tasted democracy would welcome a shift to communism?
The Chinese government knew this too.
That's why they're treading carefully.
"The current issue is this extradition bill. At first, Hong Kong remained quiet, but as the true nature of the bill became clear, resistance has been gradually building."
The extradition bill.
At first glance, the name doesn't seem problematic.
What's wrong with extraditing criminals?
But if you look deeper, you understand why pro-China factions in Hong Kong are pushing for it.
"Normally, if someone causes trouble overseas, regardless of nationality, shouldn't they be subject to that country's laws? Extradition usually involves complex legal procedures."
People don't commit crimes and flee overseas for no reason.
Once someone escapes abroad, things become extremely complicated, and forcibly bringing them back is no easy task.
"But if this bill passes, even if Hong Kong's laws find no issue, the moment the Chinese government brands someone a criminal, they'll be forcibly taken away regardless of Hong Kong's legal system."
"No wonder there's backlash."
"Yes. They say this bill disregards the 'One Country, Two Systems' principle, and the opposition is fiercer than expected."
The reason for opposing this bill is simple.
Because from now on, the moment someone in Hong Kong speaks ill of China, they could disappear without a trace.
Until now, Hong Kong has been guaranteed an independent judiciary separate from mainland China.
But China is trying to break that.
"What's particularly concerning is capital flight. The reason Hong Kong has functioned effectively as a hub is due to its unique position as a gateway to China and its relatively lax financial regulations based on Anglo-American law, isn't it?"
If you were to name Asia's top financial hubs, there are two:
Hong Kong and Singapore.
What sets them apart is their financial laws, which follow Anglo-American legal traditions and are somewhat lenient.
They're also notably generous when it comes to the most sensitive issue—taxation.
"In our country, we impose taxes starting with progressive taxation and even on overseas income, but Hong Kong is different. Especially with progressive taxation, the difference can be over 30%. In many ways, it's far more profitable to park capital in Hong Kong."
"It's not that they don't collect taxes, but the advantage lies in how significantly lower they are compared to elsewhere, right?"
"Exactly. And it's also the only gateway into the notoriously difficult Chinese market."
That's why most assumed the Chinese government was just testing the waters.
"In a way, this bill could be seen as a test. They're trying to gauge the current sentiment of Hong Kong's people."
"So they don't actually intend to pass it—they're just probing public opinion?"
"Yes. That's the general consensus. It doesn't seem like the Chinese government has any intention of resorting to force, either."
That would be the rational assumption.
But China should never be judged by rational standards.
Isn't this the same country that, in the 21st century, regresses into a communist system, controlling hundreds of millions under an iron-fisted rule?
And my gut instinct also showed me a vision—Chinese authorities violently crushing Hong Kong protesters. In other words, the Chinese government has already made up its mind to beat Hong Kong into submission.
"When the Chinese government tries to forcibly push this bill despite Hong Kong's opposition, draft a report on what might happen."
The employees looked at me in shock.
"President, surely you don't think the Chinese government will take a hardline approach?"
"Yes. Forget the bill's passage—don't you think China will try to fully clamp down on Hong Kong this time?"
"But if they do that, they'd have to worry about massive capital flight. Not to mention, protests would swell to unimaginable levels—enough to make France's Yellow Vests movement look like child's play."
"And if China really does resort to force, Taiwan would also reconsider its stance. Public sentiment toward the current Taiwanese premier is already extremely unfavorable. If they see China violently suppressing Hong Kong, wouldn't anti-China sentiment grow stronger?"
Every word was correct.
Deng Xiaoping didn't push for "One Country, Two Systems" for nothing.
And it was a brilliant move.
Especially since Taiwan's current premier is deeply unpopular.
The collapse of TSNC played a part, but public opinion had turned sharply against provoking China and harming national interests.
If China could just maintain control over public sentiment—from Hong Kong to Taiwan—
They could slowly swallow them whole under "One Country, Two Systems."
But as I said before—
You must never look at China through the lens of rationality.
"Please include data on how much foreign capital is expected to flow out when preparing the report."
"Ah, yes. I'll prepare it right away."
If the vision I saw through my intuition is correct, China has already braced itself for the outflow of foreign capital. If so, where would that money flow to?
Singapore, the financial hub currently shouldering the rest of Asia.
But... suddenly, a thought struck me.
What if we could divert all that capital to our country instead?
Then, couldn't we replace Hong Kong as Asia's representative financial hub?
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"Wh-what is this? Are they seriously going to do this?"
This must be exactly how it feels to be struck by lightning out of a clear sky.
No—to be honest, I had always thought a day like this would come eventually.
"But this suddenly?"
"Yes. After the EU declared a no-deal Brexit, they officially announced their stance. They stated they would implement anti-monopoly laws against Gwangun, which currently wields excessive influence."
The EU has something called competition law.
This is essentially anti-monopoly legislation—if a specific company dominates a sector excessively and disrupts the market with its influence, sanctions can be imposed under competition law.
"The problem isn't just the EU. Other countries are also jumping on the bandwagon to sanction our Gwangun Shipping."
Now that the EU has stepped forward, other nations that had wanted to speak out but couldn't are hitching a ride, one by one, to pressure Gwangun.
"..."
Kim Du-yeong closed his eyes tightly for a moment.
The inevitable had finally arrived.
Just how much profit had they reaped while monopolizing the shipping industry?
They toppled TSNC, a giant in the semiconductor industry, prevented countless companies from even booting their servers to trigger a crisis, and ultimately sank Japan economically.
Truthfully, it was a miracle they hadn't faced sanctions until now.
It was all thanks to Jeong Jin-ho's ingenious maneuvering, but had even that reached its limit?
"This... isn't something we can handle, is it?"
"If we were to immediately cut off all shipping operations to Europe, this... could escalate into a diplomatic crisis. Judging by the intensity of their statements, they might even deploy warships."
And it's not just the EU.
Countries that had been grinding their teeth at Gwangun are now stepping forward to pressure our government.
"So our government can't stop this?"
"With the sensitive timing of talks with North Korea, and now multiple nations pressuring us simultaneously—no matter how much Gwangun has done for the country, the government won't have any leverage."
The government would want to protect Gwangun, of course.
There's a saying, isn't there?
He who controls the sea controls the world.
That adage cuts straight through this era.
But imposing anti-monopoly laws on Gwangun and forcibly splitting its shipping business is no different than stripping away the power that once ruled the seas.
"Haa—"
So there's no way out.
In the end, Kim Du-yeong rose from his seat.
"Wh-where are you going?"
"Where else? To see Zhuge Liang."
"Huh? Ah..."
Who else could "Zhuge Liang" refer to?
The executives understood immediately.
After all, there's only one person who brought Gwangun this far.
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"I have absolutely no idea what to do about this."
President Kim Du-yeong came to us with a face half-cadaverous.
Hyungnim silently poured him a drink.
"So. Those big-nosed bastards want to tear our business apart and take it for themselves?"
"Yes. They've even declared they won't back down unless we comply, framing it as a diplomatic issue."
I'd already heard a rough outline of the situation before President Kim arrived.
The EU, along with several other nations, had drawn their swords against our Gwangun Shipping.
"What does the government say?"
"They don't seem to be able to do anything for us. It's true that we've effectively monopolized the shipping industry all this time."
"So we have to split up the business, then?"
"Yeah. Even Rockefeller was forcibly broken up back in the day. Now it's our turn."
Big Brother seemed frustrated too.
Today, he wasn't even touching the side dishes, just downing straight soju.
"What should we do, President Jeong? If we refuse to split the business, they're even threatening to use force if necessary."
"I doubt they'd actually resort to violence, but... The real problem is that if we stubbornly resist, President Kim will be in danger. The EU is already preparing legal proceedings, isn't that right?"
"Yes. They're planning to arrest him under international law. But Chairman, do you really think I'm afraid of going to prison? My safety means nothing compared to the company. This shipping business—how hard President Jeong and you worked to build it. And now they want to tear it apart?"
This wasn't a joke.
President Kim really could end up in prison.
And if the damage escalates, even Big Brother might be in danger.
"That absolutely cannot happen."
"No, President Jeong. I'm fine. Really. If keeping our shipping business intact and letting it grow even bigger means I have to rot in prison, then so be it. I mean it."
President Kim Du-yeong often said things like this whenever I met him.
That he was living a second life.
That if I hadn't recruited him and given him a position back then, he would've already wasted away alone in some corner of a room, dying in loneliness.
So he always said he was willing to do anything for the company.
"..."
But no matter what, I couldn't just send a man to prison.
I was furious, but in a way, I also thought this was inevitable.
Our shipping division had grown exponentially, wielding influence in every direction.
That's why anti-monopoly laws exist.
If a single corporation monopolizes an industry—especially something as critical as shipping—it gains enough power to destabilize nations.
'Still, it's bitter.'
No matter how justified, being forced to dismantle the company we'd poured our hearts into...
Even I found myself downing soju one after another today.
What should we do?
Should we just give up on shipping entirely?
"These are the conditions they've laid out. A report on how much we need to split."
I took the documents President Kim handed me and unfolded them.
The moment I did—
"!?"
As soon as I opened the report, it felt like a massive fist slammed into me.
And what I saw was a vision—all our goodwill trapped, unable to go anywhere, bound solely to the ports.
No work.
"Goodness, President Jeong! Are you okay?"
"Jin-ho, are you drunk?"
As I staggered and nearly dropped the report, Big Brother steadied me.
"Ah, no. I'm fine."
That image just now... it was unmistakably...
"Should we just cleanly hand it all over?"
"Huh? Cleanly hand it over? What do you mean?"
"The shipping business. If they want it, let's just give it all to them. But we'll demand a hefty price in return."
At that, President Kim's face twisted in distress.
"President Jeong, if you're doing this because of me—don't. Do you think I don't know what this shipping business means to you? You wanted to dominate the seas and grow Gwangun with it, didn't you? So let me go to prison. Don't worry about it."
"People come before money. Don't even mention something as horrifying as prison."
"P-President Jeong!"
Despite his rough exterior, President Kim burst into tears and pulled me into a crushing hug.
"Y-you don't have to—"
I tried to push him away, but he was much larger than me—no chance with my strength.
And so, I was forcibly embraced by President Kim Du-yeong.
'...?'
Then, another image flashed through my mind.
'This is—'
President Kim Du-yeong, smiling brightly, being elected as the chairman of Gwangun Shipping Group.