at the Americans in the room, Fang said calmly, “We need – the world needs – America moving forward again, and the salaries we pay – and the taxes your government takes – are required to pay-down your debt and get America moving. We will be paying in dollars and using your country’s tax tables to withhold the correct amounts, which we will deliver to your tax authorities. The world needs a free-market, innovative and producing America, perhaps now more than ever. You cannot be so when you lack jobs. We want to put you to work.”
Mr. Board quietly considered what Fang said.
Qiang watched Board think for a long minute and then asked, “Mr. Board? What is your preferred deposit to begin planning and executing this project? And when can I expect to know how many of your team will be coming with you? I will need to arrange additional workers for your crew if you cannot supply enough.”
Board decided to see if he was really serious. “I need a deposit of $50,000,000. Once I have that I’ll begin meeting with my teams. I can provide a rough estimate within 24 hours of workers, families to be moved, and a very high-level initial schedule. Costs will be rough because you want the estimate so quickly. We will need to re-examine the schedule and budget in detail as soon as we can, but if you want this rail built in the stated timeframe, we’ll need to have men on-site within weeks. Are you paying men at Chinese scales or American?”
“We are asking for your sole-source bid, Mr. Board, and we want you to make your normal profit, plus a markup for the location. We will be adding bonuses for making the schedule to which we will both agree. We will pay your company for the entire project. We are hiring your company; you pay your workers. We would like you to estimate it at the same rates you would if you were building it in America – as quickly as possible. There will be reviews of these estimates as we progress to ensure you are profiting from the work. We have no interest in your not making a profit. I am sure your people will find that they will be making relatively far more than in America, given our much lower cost-of-living. They may lack some amenities, but we think that the housing and schooling and work we are providing will make up for those things. The agreement will be for five years at a minimum. We will extend it should we find we need additional track mileage, and for maintenance workers, as well. You will hire Americans at standard labor rates. If you wish to lower your costs through foreign low-cost labor rather than bringing Americans with you, we will immediately go to your competitors in America. Is that understood?” Board nodded and began thinking logistics, costs and schedules.
Qiang turned back to the Korean steel man. “Mr. Park?” he asked.
Park seemed to complete his mental calculations, nodded, wrote two numbers on the card, a project estimated total and a deposit amount to begin planning and working, and handed it to the Interior Minister. Qiang examined the card and nodded. It was a good number, just about what he had expected. A bit higher, but not enough to quibble over.
“What is the interest of China in America paying-down its debt?” Board asked.
Ignoring him for the moment, Qiang picked up his briefcase and placed it on the table. He unlatched it, opened it and removed a large business checkbook. Turning to the first page of checks in the book, Qiang wrote a check and handed it to Park. “Is this the deposit amount you just told me?”
“Yes,” said the dumbstruck man.
“You will notice it is drawn on the Korea Exchange Bank. If you would like, you may check with them now to assure yourself that the funds are on-deposit for this check.”
Park looked at Qiang, then the premier, and then at the others assembled, nodded, and placed the check in the inside breast pocket of his suit coat. “I have no reason to mistrust you for something so large and so public. One assumes you have something even larger in mind, and that being dishonest with me will not help you achieve your goal, whatever it may be.”
“Thank you, Sir,” said the minister, nodding.
Jackson had worked railroads in college and understood something of that industry. He looked at Qiang and asked, “Minister, ten thousand kilometers of right-of-way would seem to require quite a fleet of trucks for the movement of men and supplies.”
“Yes, Mr. Jackson, and if you would be so good as to begin trusting me and filling-out the cards requested, we will get to that in a moment. We also will need quite a bit of heavy construction equipment – bulldozers, loaders, scrapers, dump trucks, etc. We are meeting with Caterpillar and Deere tomorrow morning. If you also would like to attend that meeting – we know your company also produces some of those items, as well as long-haul trucks we will need to transport supplies for building and servicing the towns we will create, you will be welcomed.”
Jackson began writing on his card.
Qiang turned to the Chairman of General Electric. “Mr. Billings,” he asked.
“Yes?”
“We need 200 locomotives over three years. Heavy freight, high-speed, long-haul. Your best diesel-electrics.”
“Standard price?” asked Billings calmly. He had begun to absorb and appreciate the magnitude of what was occurring.
“Yes,” replied Qiang.
“Are you allowing for spares and maintenance in your figure? Normal spares for maintenance, wreckage, etc., are five or ten percent. Would you like me to price 225, and will this be with my current or supplemented capacity? And the delivery? When do you need your first shipment?” He was fully in the game now.
“225 will be fine, thank you. If you think additional manufacturing capacity will be required to service this order and your current customers, please include that, but do not be greedy. There will be more,” Qiang replied. “And we would like the first ten as quickly as you can provide them. Two months, with the remaining 215 delivered at a rate of five per month?”
“We can do that,” Billings agreed. “Deposit?”
“No more than 15%, please.”
“And China’s interest in America “getting going” again…?”
“In a moment, please, Mr. Billings.”
Billings thought, wrote and handed the card to Qiang.
The Minister collected Billings’ card and the additional cards from the automakers and briefly looked at them. The auto numbers basically were the same as the published ones. Qiang now assumed that he was being dealt with honestly.
“Thank you,” Qiang said as he put down the cards.
Again reaching in to his briefcase, Qiang pulled out a different checkbook, one embossed with the logo of the largest American commercial bank, removed a check and began to write. Finished, he handed it to Mr. Board. “Here is the $50,000,000 deposit you require,” he said, handing the check to a surprised Board.
He wrote another check and handed it to Billings. Billings looked at it and placed it into his pocket. “Thank you. Who is my primary contact for the necessary paperwork, questions and project information?”
Qiang removed a sheet of paper from his case and handed it to Billings. “Here is the pertinent information, as well as my American office, apartment and cellular telephone numbers, should there be any problems or questions.” He handed another to Board. “If you would like, we will precede the orders with a contract. But our preference, of course, since we have already provided many millions of dollars, is to
