Chapter 369 The peninsula in turmoil·Continued

Seoul, Shilla Lodge.

“So we got here right here on a particular journey.”

Mitsui Shouki smiled and mentioned: “We heard that there’s such a reception right here in Hanguo. So I requested my pals right here to come back to your reception simply to fulfill you…”

Abel smiled, “Then you definately see it now. Mr. Mitsui, what do you wish to see me?”

“Sony is keen to cooperate with you, Mr. Smith.”

Mitsui Suki continued to smile and mentioned, “It does not matter if it is Sony Music or Sony Columbia.”

“What sort of cooperation technique is that?”

“I do not know Mr. Smith, are you curious about taking a stake in Sony Columbia?”

Abel could not assist elevating his eyebrows—a stake in Sony Columbia?

He remembers Sony Columbia, which was mainly Sony’s sole proprietorship.

Sony holds greater than 90% of the shares and fully controls the Hollywood large.

Even whether it is open to personal shares, Sony, which has supported for greater than ten years, can not let itself maintain extra shares than them.

“Not very .” Abel mentioned frankly:

“I have already got MGM and DreamWorks. Another Sony Columbia, however I am unable to maintain a controlling stake, it does not assist me a lot.”

Mitsui Suki was clearly greatly surprised. He in all probability did not count on Abel to refuse so instantly.

Change to every other Hollywood mogul.

Solely when you’ve gotten the chance to put money into every other large, you’ll not hesitate an excessive amount of.

Even if you cannot maintain a controlling stake, however you may get a certain quantity of shares, you’ll be able to hope to get an government director place.

After taking the place of government director, he has sure energy on this firm.

Even if you’re excluded, your affect already exists.

That is an irresistible temptation for a lot of leisure giants.

If the opposite six main Hollywood firms are keen to put money into Sony.

Regardless of how costly the opening value is, Sony will take into account it, and can probably be keen to take a stake in the long run.

Mitsui Suki didn’t count on that Abel would refuse so merely.

He could not assist however mentioned, “Why do not you concentrate on it once more? In the event you take a stake in Sony Columbia Footage, then you’ll have two movie giants in Hollywood. This shall be of nice assist to Smith Media’s affect in Hollywood .”

Hollywood used to have the Large Eight.

Later, there have been solely six remaining, and the rise of DreamWorks within the center was as soon as known as the seventh largest.

On this period when DreamWorks was acquired and have become a part of MGM.

Hollywood has solely six majors left, particularly Disney, MGM, Paramount, Columbia, Common, and Fox.

Amongst them, Neon Panasonic as soon as held a controlling stake in Common Footage.

However Panasonic’s toughness is not so good as Sony’s. After just a few years of losses, it may’t afford it, so it has to promote Common.

French Vivendi accepted it two years in the past, and now Common known as Vivendi Common.

And Columbia is Sony Columbia, managed by Sony.

These 6 firms, plus greater than a dozen different medium-sized impartial movie firms, are much like the dimensions of DreamWorks Movies.

constitutes the spine of Hollywood in the present day.

The one ones with impartial distribution channels are the Hollywood Six.

Different movie firms, when distributing films, both can solely depend on the assistance of the Sixth Main, or they’ll solely discover channels by themselves.

And when the Large Six of Hollywood face new challengers, they’ll typically squeeze out tacitly.

It is like DreamWorks as soon as. At its most wonderful time, it doesn’t matter what it does, it will likely be sniped and hindered by the six main forces.

When doing movie distribution, the fee is dearer than others…

That is the tacit settlement of the vested curiosity teams that there is no such thing as a must publicly suppress the latecomers.

Among the many Large Six, Sony Columbia has all the time been disliked due to its particularity of Japanese capital.

In parallel time and house, if it weren’t for the success of Parker’s film.

Sony can final just a few extra years, it’s actually exhausting to say. In any case, nobody’s cash comes from robust winds, and one can not simply sit again and watch the black gap preserve swallowing cash.

Now Sony Columbia Movies’ Spider-Man has been snatched again by Abel.

Sony discovered Columbia Footage, and its hope of future profitability started to fade once more.

The Sony household has a giant enterprise and may afford to assist the prodigal son of Columbia.

But it surely’s not the way in which to maintain it like this.

Regardless of how wealthy and worthwhile Sony is, it can not simply sit again and watch Columbia endure limitless losses.

After an inside analysis recreation, Sony lastly approached Abel.

The one who got here right here was Suki Mitsui, a member of the Mitsui household.

In terms of the Mitsui household, that’s one other story.

“Sorry…” Going through the enthusiastic Mitsui Suki, Abel nonetheless refused with a smile:

“I have already got MGM. Another Columbia won’t be of a lot use to me. Quite the opposite, it might make Smith Media much more feared by different giants in Hollywood.”

Abel’s phrases are additionally true.

Colombia has it, MGM has all of it.

Movie library, distribution channels, model energy, and fame within the trade.

This stuff, the six giants of Hollywood, are mainly the identical.

For one more Hollywood Large Six, every other Hollywood Large Six movie firm, the one factor that’s extra enticing is the movie library and copyright.

Different issues are sometimes cumbersome.

Particularly by way of distribution channels, lots of the six main Hollywood movie firms overlap and share with one another.

No matter copyright, movie library, and model energy.

With a Hollywood Six, that’s to have an actual ticket to Hollywood.

As for issues like admission tickets, one ticket is sufficient.

As a result of an admission ticket is sufficient so that you can enter the interior area that belongs to you.

In the event you take one other card, others will unite and squeeze you out.

They may fear about themselves and turn out to be Abel’s subsequent annexation goal.

That can make MGM in Hollywood, and the enemy will turn out to be extra.

The advantages haven’t elevated a lot, so it may be mentioned that the features outweigh the losses.

Seeing Abel decline once more, Mitsui Suki needed to say one thing extra.

Robbie Abbey has already interrupted with a smile on the proper time:

“The chat is over, proper? Mr. Smith… This manner please, there are just a few gents right here who wish to chat with you.”

The envoys have mentioned so, Mitsui Suki is just not an fool.

After all I do know, because of this Abel won’t speak to himself anymore.

Robbie Abbey, he took Abel Smith with him, and circled to talk with the envoys in South Korea from Huaxia, Neon, Qatar and different international locations.

Mitsui Suki may solely sigh and stopped catching up.

Right now, Toko Mitsui, who was by his facet, whispered:

“Father, it appears that he’s actually not . Identical to the uncles at residence mentioned.”

Mitsui Suki nodded, “Why do not I do know? However Columbia is in hassle now. This 12 months’s 7 movies, all counted, have a complete lack of 1.58 million US {dollars}…”

Toko Mitsui comforted his father: “That is the least loss in additional than ten years. Is not it? It is a good outcome beneath your management, father.”

The CEO of Sony Columbia is clearly known as Howard Stringer, not Suki Mitsui.

Toko Mitsui now says that Sony Columbia Footage was in a position to cut back the loss to such a low degree beneath the management of Suki Mitsui.

It is because Suki Mitsui is the particular person inside the Mitsui household who is especially answerable for the leisure sector and American affairs.

Right here we’ll speak concerning the promise Sony made to the People to be able to purchase Columbia.

So as to cut back as many obstacles from the People as doable within the acquisition of Colombia.

Sony as soon as promised the USA that even when Colombia is acquired, it should nonetheless be Colombia of the People.

Sony won’t prepare too many neon managers in Columbia.

So now yow will discover out that though Columbia Movies is now known as Sony Columbia.

However its president, chief government officer, and people essential administration positions have all the time been People.

Due to this, the imprint of neon folks on Columbia films is comparatively gentle.

However Sony is just not a idiot. After spending a lot cash, it solely purchased a naming proper.

The bottom line is that after so a few years of naming, Columbia films have all the time been a rip-off.

Dropping cash yearly, Sony has been shedding cash.

Over time, Neon persons are not silly.

When the People weren’t so involved, the neon folks had been regularly including sand to Sony Columbia, permitting extra neon folks to enter Sony Columbia Footage.

After all, the few on the top nonetheless dare not get replaced by neon folks, such because the CEO.

It’s too apparent to try this, and it’s straightforward to draw the eye of People.

Neon Man’s strategy is split into two steps.

Step one is so as to add sand to the center layer of Sony Columbia. There are numerous neon folks and ghosts from Sony’s headquarters, who work in Sony Columbia Footage.

Secondly, a particular advisor was positioned on the CEO of Howard Stringer.

This particular advisor doesn’t have any precise place in Sony Columbia.

However Howard Stringer and different high-level executives wish to be promoted and raised inside Sony, and to pay extra bonuses.

Then you need to hearken to the particular counsel.

Mitsui Suki is the newly appointed particular advisor.

is after Spider-Man was robbed.

The brand new particular person in cost specifically despatched by Sony to switch the unique guide who did nothing.

On the floor, Suki Mitsui has nothing to do with Sony Columbia.

Secretly, Mitsui Suki is the invisible overlord of Sony Columbia, and even the North American division of Sony Music.

As for why Suki Mitsui was in a position to turn out to be the Supreme Emperor, not another person.

The reason being additionally quite simple. Who known as his surname Mitsui, is he an essential member of the Neon Mitsui chaebol household?

Who known as Sony from the previous to the current, the truth is, it has all the time been one of many essential subsidiaries of the Mitsui consortium.

In actual fact, Sony is just not the one well-known firm beneath the Mitsui consortium.

There are greater than 270 direct and collateral firms and their subsidiaries of the Mitsui Basis.

Toyota, Toshiba, Sony, Panasonic, and so forth., that are well-known to Chinese language folks, are all owned by them.

Just like the Toyota household, the grasp of Toyota.

The daughter of this household has all the time solely married Mitsui. The son of this household has all the time been in a position to marry solely Mitsui.

After greater than ten years, Toyota’s prince now not married Mitsui, however bought engaged to a theater actress.

It even made information in Neon.

As a result of Toyota didn’t marry Mitsui.

Additionally married a theater actress, what sort of Cinderella plot…

Then the Neon Man shut up as quickly as he investigated.

It seems that the theater actress is just not a Cinderella both.

This theater actress lives within the Platinum District of Minato-ku, Tokyo. Those that can reside in this type of place are both wealthy or costly.

This theater actress has been finding out within the academy the place the neon royal household and chaebols collect since kindergarten. She and the neon princesses and chaebol women have been classmates since childhood.

She can also be a member of the Idemitsu household.

And this household controls the second largest oil firm in Neon, and is a correct oil princess.

So in actuality, there are clearly only a few plots between the princess and the frequent boy, the prince and Cinderella.

Even when there’s, it typically ends in tragedy.

Standing subsequent to Abel now, the pregnant Li Fuzhen is the most effective instance.

Even with out Abel’s look, Li Fu’s actual married life will nonetheless be filled with fluff.

In brief, it may be understood that the Mitsui household is the Rockefeller or Morgan of neon. Or one of many two plus a Koch full physique.

There are a number of such dickish chaebols and consortiums, and essentially the most highly effective ones are Mitsubishi, Mitsui, Sumitomo, and Fuji.

Under these 4, there are a number of different weaker ones.

Along with being a bit feudal, the land space is small and the affect is low.

In different respects, the chaebols on the neon facet are mainly the identical because the conglomerate households on the American facet.

Mitsui Suki and Mitsui Toko are essential members of the Mitsui household.

Mitsui Suki can also be the particular person answerable for the leisure enterprise in North America for the Mitsui household.

That is why it wasn’t somebody from Sony who got here to Abel, however Suki Mitsui, who appeared to don’t have anything to do with Sony, however the truth is was the emperor of Sony who got here to Abel.

Do not point out the daddy and daughter who’re negotiating quietly.

Abel’s facet, beneath the enthusiastic introduction of Robbie Abbot.

He chatted with the envoys of the three international locations in Korea.

Amongst them is Mr. Wang, the Chinese language envoy to Korea.

“I’m very optimistic about Huaxia.”

When chatting with one another with a smile, “China has the most important inhabitants on the earth, an enormous land and output. There may be additionally a social perspective of exhausting work and severe work. You’ll positively develop, imagine me.”

In personal, Mr. Wang, the envoy to South Korea, is the primary time he has heard foreigners reward Huaxia a lot.

Though there are additionally within the media, however it’s within the media. In personal, Europe and the USA have by no means had a superb perspective in direction of Huaxia.

Particularly such influential and high-status foreigners are so optimistic about Huaxia.

Mr. Wang instantly interjected: “Mr. Smith, Huaxia additionally welcomes businessmen such as you to take a position. We are going to give you the most effective perspective, even good insurance policies, to welcome you!”

With Abel on the American facet, his affect is rising day-to-day.

Crucial factor is that he turned the nominal richest man on the earth this 12 months.

All international locations on the earth have paid extra consideration to him.

is in the course of frantic funding promotion, and China is frantically attracting international capital.

Naturally, it’s unattainable to not see the existence of this particular person.

A variety of details about Abel Smith has even been positioned on the stage of that.

In the event you can lead this particular person to Huaxia and let him make investments some huge cash in Huaxia…

There is no such thing as a doubt that whether or not it’s from the angle of the nation or Mr. Wang himself.

All can play a fantastic constructive position, the richest man on the earth takes the lead in investing in Huaxia!

Such information is uncovered, irrespective of the way you have a look at it, it’s a nice achievement!

Mr. Wang is especially constructive.

Abel mentioned with a smile: “As early as final 12 months, I’ve already began investing in China. Smith Capital (Huaxia) has invested greater than a billion {dollars} in China.”

Mr. Wang was greatly surprised for a second, he actually did not learn about this matter.

His major job is to be answerable for Han Guo, at most he’ll deal with Neon.

He does not know very clearly about home affairs.

However Rabbit’s diplomats are all top-level easy masters, they usually smoothed over the matter with a chuckle.

Abel additionally targeted his consideration on the Katar messenger subsequent to him.

The envoy had been speaking to Abel simply now, and at this second he lastly bought the prospect to be alone.

The emissary named Ben Khalifa had a protracted dialog with Abel.

However there is just one objective in essence, and that’s the Qatar Funding Authority, which needs to place a sum of cash into Smith Capital.

Right now, there was no so-called Qatar Funding Bureau.

This establishment won’t formally seem till 2005.

However its rudiment has already existed, within the late Eighties.

The Amir household in Qatar has already begun to throw a part of their funding overseas to be able to make value-added earnings

With the autumn of the purple bear, the velocity of globalization turned an increasing number of apparent later.

The worth of Qatar’s international funding is rising, however it has not but turn out to be a system.

It is a sovereign wealth fund that began comparatively late within the desert space.

In any case, sovereign wealth funds originated in desert areas.

As early as 1953, Kutwe established the Kutwe Funding Committee, which is the earliest nationwide sovereign fund on the earth.

On the finish of 2001, we’re about to enter 2002 now.

A dozen sovereign wealth funds have emerged in desert areas.

So lots of the identical variety have accomplished this, and Qatar’s funding bureau is clearly already within the making.

For international locations in desert areas, sovereign wealth funds are sometimes thought to be a vital monetary instrument for the oil financial system.

The that means of this emissary of Ben Khalifa is that Katar needs handy over about 10 billion US {dollars} of funds to Smith Capital for operation.

This type of factor is for the overwhelming majority of personal fairness funds, and even public funds.

are all nice issues.

As a result of the extra buyers, and the extra funds raised.

It additionally implies that fund managers can get extra advantages.

When working financially available in the market, extra funds also can make funding extra snug and extra versatile.

Merely talking, inside a sure restrict, the extra folks make investments, the extra folks belief the higher.

However what upset Ben Khalifa was Abel who declined with a smile.

“Smith Capital has by no means been wanting buyers.” Abel mentioned with a smile:

“In the USA, there are a minimum of 1,000 billionaires who wish to give me most of their wealth for funding. However I refused.”

“As a result of not everybody can obtain an annualized fee of return of greater than 100%.”

Let’s put it this fashion, Buffett has been investing since 1958.

By 2001, a complete of 44 years, Buffett’s whole fee of return was 430121.43%, a rise of 4301 instances, accumulating 44 years, and the annualized fee of return was 21.5%.

This lasting achievement has allowed Buffett to kill 99.9999999999% of the folks on the earth.

Even the inventory angel Peter Lynch cannot examine to him.

As a result of Peter solely lasted lower than 20 years and retired later, not as long-lasting as Buffett.

Due to this document, Buffett is called the inventory god.

is a **** larger than angels.

Though Abel hasn’t been round for a very long time, it hasn’t even been two years.

Nonetheless, inside two years, the earnings he earned for buyers and shoppers are way more than Buffett’s ten years.

The speed of return is so exaggeratedly excessive, and there has not been a single loss up to now.

Too many individuals wish to make investments their cash with Abel.

Qatar, the place Ben Khalifa is positioned, thinks so. Many sovereign wealth funds in different desert international locations have additionally come to contact Smith Capital.

Prince Walid, like Prince Walid, has approached Abel many instances, implicitly representing the Kingdom of Tessa, and desires to put money into Abel, and desires to be Abel’s investor.

However like this Ben Khalifa in the present day, he was declined by Abel.

It is not that Abel thinks cash is simply too scorching, however that Abel now needs him to assist earn a living and desires him to be a money cow.

Then there should be a premise, the premise is that the opposite celebration can carry different sources aside from cash to Abel.

Identical to he accepted shares from the Texas consortium, Buffett and others.

Now Abel, what he needs is just not easy cash figures.

What he needs is the affect behind these numbers that may carry extra elements.

Abel replied to the envoy of Ben Khalifa identical to he replied to Prince Walid.

“Norwegian Petroleum Fund is the newest investor of Smith Capital.”

He smiled and mentioned:

“After Smith Capital’s seventh personal placement of fifty billion U.S. {dollars}, the eighth personal placement was launched for the Norwegian Petroleum Fund alone. The personal fairness investor was solely the Norwegian Petroleum Fund, and the raised quantity was 15 billion U.S. {dollars}.”

“If Qatar and different desert international locations additionally wish to be Smith Capital buyers, they’ll solely take into account the identical because the Norwegian Petroleum Fund.”

As Abel turned a shareholder of Statoil and Norway Hydro.

Norwegian Petroleum Fund’s eighth fundraising funding occasion in Smith Capital befell on the finish of September this 12 months.

Because the eighth personal placement initiated by Smith Capital, the Norwegian Petroleum Fund invested and subscribed for the complete quantity of 15 billion US {dollars}.

Abel advised Ben Khalifa this, he was telling him.

Qatar or different desert international locations additionally assume the identical.

Then it may solely be the identical as Norway.

Open up its stake in Petronas, making Abel certainly one of its shareholders.

Even whether it is 1% or 2%, it may be mentioned somewhat bit.

However not with out.

Like whether it is Qatar, it’s Qatar Nationwide Petroleum Firm.

The corporate is answerable for its oil and gasoline trade actions at residence and overseas, and acts on behalf of the federal government.

In 1995, the corporate had oil and gasoline reserves of 480 million tons and seven.07 trillion cubic meters, respectively, and oil and gasoline manufacturing of 23.75 million tons and 13.5 billion cubic meters.

By way of output, particularly in pure gasoline, it ranks second or third on the earth all of the 12 months spherical.

The highest ones have all the time been Mao Xiong or Lang Yi.

This firm can also be the lifeblood of Qatar.

After Abel mentioned this, Ben Khalifa actually stopped mentioning this matter.

For Katar, there is just one particular person of their nation who has the appropriate to speak to Abel about this.

That’s their supreme Amir.

The envoys of Katar died down.

Neon’s messenger smiled and invited Abel to go to Neon.

Abel instantly said that he’ll go, however not not too long ago.

It is probably not till subsequent 12 months, as a result of he’ll return to the USA in two days.

In the USA, Abel nonetheless has quite a bit to do.

Together with however not restricted to Elizabeth’s Christmas Eve present, in addition to main occasions in his life.

With the assistance of Robbie Appleby, Abel bought to know all types of personnel right here wave after wave.

By way of neon, apart from Mitsui Suki of the Mitsui Basis.

He additionally met Mitsubishi’s Iwasaki, who additionally had an individual who got here to this reception.

It may be thought to be just a few extra strokes for Abel’s clean neon community, a minimum of just a few extra folks.

The reception began at seven o’clock and lasted till after 9 o’clock within the night, and everybody left one after one other.

The chaebols on the Han nation facet had been the final to go away.

After the folks had virtually left, Abel known as Li Zaixi and others right into a small assembly room.

With Li Fuzhen as a companion, Li Xinyu may have participated in it initially.

However this little princess of the Samsung Group, who has all the time been a bit literary, is just not excited by this type of factor.

In contrast to Princess Li Fuzhen, that is what she likes essentially the most.

Li Xinyu didn’t come due to this.

Within the small assembly room.

Li Zaixi and others checked out Abel and talked freely:

“Soros is now on Hong Kong Island. He initially needed to assault Hong Kong Island. However on Hong Kong Island, due to China’s causes, he was somewhat scrupulous. However Han Guo’s facet is totally different. He attacked Han Guo , that is nothing to fret about.”

“Did he actually simply wish to take a shot on the inventory market?” Zheng Jiumeng could not assist asking in a low voice.

The shadow of the well-known tree of individuals, Soros has dedicated crimes for a few years, folks with related monetary pursuits in small international locations, who wouldn’t be afraid to say him?

Particularly the victims of Soros, they hate him much more after they point out him.

Within the monetary disaster of 1998.

Because the No. 1 chaebol within the Han Kingdom at the moment, the Zheng household was the one which suffered essentially the most.

After the shock was over, the Zheng household fell right into a fierce inside dispute.

Ultimately, the Zheng household, the unique No. 1 large, was divided into three after the shock and infighting.

Within the case the place the eldest son has lengthy since handed away.

The second son, Zheng Jiumeng, bought essentially the most worthwhile and most essential subsidiary inside the Xian Dai Auto Group.

The sixth son Zheng Zhunmeng controls the present Dai Heavy Trade Group, which is the second most worthwhile and second most essential firm within the household.

The fifth son, Zheng Xianmeng, inherited all the remaining in accordance with his father’s will.

Logically talking, Zheng Xianmengcai must be an essential consultant of the Xiandai chaebol.

The fact is that the auto and heavy trade, essentially the most high-quality property of Xiandai Group, have been impartial.

The opposite dozens of firms are massive and massive, however most of them are closely in debt, and the group has to bear the burden of international funding.

After his father handed away in March this 12 months, the three sons had been divided into Zheng.

Zheng Xianmeng’s major line, quite the opposite, is at present the weakest.

It was Zheng Jiumeng who turned stronger first.

Acquired Zheng Zhunmeng from the Heavy Trade Group, and was primarily obsessed along with his official profession.

Zheng Jiumeng, the second son of the Xiandai household, turned the primary consultant of the chaebol household.

When the pursuits of the whole chaebol household are at stake, Zheng Jiumeng will step in to assist the Zheng household.

This is the reason Zheng Jiumeng, on this small chaebol staff, has all the time had the largest voice.

As a result of earlier than this, their Zheng household was the primary chaebol in Han nation.

It’s simply that the present Zheng household, harm by the 98 monetary disaster, and the household cut up once more, are now not nearly as good because the Li household.

As well as, Li Zaixi has two good daughters, so he’s naturally the present chief of the chaebols.

Even when Zheng Jiumeng is dissatisfied, until he can re-conquer the battle with the whole Zheng household.

In any other case, the No. 1 chaebol would now not be the Zheng household.

“Nobody can know what Soros thinks. Perhaps even himself. As a result of many instances, Soros will do some irrational issues beneath the coercion of worldwide scorching cash.”

Abel is just not within the temper to know concerning the gossip amongst Han Guo chaebols.

Now he simply needs to chop leeks and earn some pocket cash for Li Fuzhen, and he does not care about the remaining.

“What now we have to do now’s to proceed to induce public opinion.”

Abel said: “By making the inventory market scorching in China, let Soros focus solely on the inventory market. In case you are fortunate…”

Abel laughed and seemed on the crowd, “Perhaps we will earn some cash from Soros within the inventory market.”

Listening to what he mentioned, the chaebols glanced at one another, they usually all noticed the motion in one another’s eyes.

It does not matter whether or not you’ll be able to earn Soros’s cash or not.

What issues is that if everybody does this, there’s a excessive likelihood that they’ll make some huge cash.

This “a sum” is a minimum of tens of thousands and thousands of {dollars}, and will even be extra.

That is very thrilling for these high-end wage earners who’re positioned on the peninsula by the USA.

“Let’s depart it at that.” Li Zaixi was the primary to say, “I’ve no doubts.”

Zheng Jiumeng additionally rushed to say: “I haven’t got an issue anymore.”

A number of others mentioned the identical.

Evidently right away, an invisible web for many of Han Guo’s … Han Guo stockholders coated the whole peninsula from Shilla Lodge.

The monetary disaster in 1998 is over, Han Guo leeks, who’ve cultivated for a number of years, additionally ushered in a pointy sickle…

It is the flu, A, both from the college or from me. Hey…

(finish of this chapter)