Chapter 96

Thank you to "Zhaoshuyu123" for the tip and "Qingchi Yijian" for the review!! I'm asking for your favorites and recommendation tickets!!!

The next day, Ji Feng continued to accompany President Obama's family for a full day of sightseeing, only returning to the hotel late at night.

Throughout the day, he not only showed them the development plans for Kaesong, which is currently under construction in cooperation with North Korea, but also took the family on a boat ride on Jeju Lake. In the evening, he treated them to freshly caught Kodani fish and then took them to see the dairy and beef cattle from the United States that were thriving on the new ranch.

Although Obama was not an expert in cattle farming, he was still amazed when he saw the lush green grass that had grown to nearly a meter high on the new ranch. Such grass had never been seen in the United States. Upon inquiry, he learned that it was a type of grass that Ji Feng had brought back, which the ranchers had named Jeju Grass for its simplicity and memorability. Ji Feng, however, silently mocked them for being as lazy as he was in coming up with such a name.

On the same day, the Jeju Bank began issuing its own currency, the Jeju Yuan, also known as the Ji Yuan, which was both the currency of Jeju Island and the private currency of its owner, Ji Feng.

It must be said that Spark was really good at timing. Of course, this was the result of prior discussions with Ji Feng. Ji Feng's invitation to the Obama family was not just to put pressure on China through cooperation, but also to quietly launch the Ji Yuan plan.

After calculations by Spark and his professional team, and with the support of Ji Feng's vast gold reserves and the assistance of UBS, the new Ji Yuan was pegged to the US dollar at a 1:1 ratio, using a floating exchange rate system. From that day until the end of the year, all other cash transactions on the island would gradually be replaced by the Ji Yuan. Starting next year, only the Ji Yuan would be allowed for cash transactions on the island, and all other cash would be phased out.

After two days of sightseeing, many journalists were curious about what the two sides were discussing, as Ji Feng's top executives and several US ministers had been locked in the hotel for two days. The world was more interested in what was being discussed in the hotel than in Ji Feng and Obama's public activities.

The issuance of the Ji Yuan on the island, though it also attracted their attention, was far less interesting than the negotiations involving the Obama delegation.

No foreign media, except for the Jeju Island TV station and the TV station that came with Obama, was allowed to enter.

On the third day, when everyone expected Ji Feng and Obama to get down to business, the two families went straight out to sea. Even more surprisingly, Ji Feng invited the distinguished guests to board not a cruise ship, but his 10,000-ton bulk carrier, leaving the journalists both amused and frustrated.

They all secretly mocked that among those who invited the Obamas for a sea trip, only Ji Feng could come up with such a strange idea, using a 10,000-ton bulk carrier as a cruise ship.

However, they did not know that when Obama went out to sea, he was almost blinded by the rich marine resources in the Jeju waters. He had originally thought that Ji Feng's two-year fishing ban was to allow the fish populations to recover, but seeing the constant movement of fish under the water and the occasional fish jumping out, he realized that the fish were not just small fry but also included many adult fish.

Since Ji Feng announced the fishing ban, the number of fish in the Jeju waters had increased, and even dolphins, which were not commonly seen before, were now numbering over a hundred. These gray little creatures playfully followed the cargo ship wherever Ji Feng went.

In addition, they saw a group of sharks, several large whales, and massive schools of mackerel and cuttlefish, some of which were as tall as a person. Yellow croakers were everywhere, especially around the fish farming devices that Ji Feng mentioned, where the fish often gathered in such large numbers that they could even pose a threat to small boats.

"Mr. Ji, with so many fish in your waters, why do you still have a fishing ban?" Maria and her sister, who were having a great time, pointed to the dolphins following the cargo ship and asked Ji Feng, tilting their heads.

Ji Feng had only discovered this group of dolphins the last time. They were very intelligent, and when he saw them, he happily poured some water from the Space Lake into the sea. To his surprise, the little creatures followed him all the way, along with several giant squids, octopuses, and a few small whales.

Now, nearly a month later, these creatures had grown significantly, indicating that they had drunk a lot of the Space Lake water, which had also increased their intelligence.

"Miss Maria, what you see are just the adults. But once they are caught, what do you think will happen?" Ji Feng smiled at the little girl. To him, Maria was much prettier than her sister, even though he had no particular fondness for black women.

Maria tilted her head and thought for a moment, then her eyes lit up. "They won't be able to lay eggs anymore. You're worried that the fish will decrease in the future, right?"

Ji Feng nodded with a smile. "Exactly. Although the decrease won't be too significant, it will still happen. I can't wait until the fish in my waters are gone before I take action."

President Obama also nodded in agreement. "Mr. Ji's decision is correct. Although it seems like there are many fish now, if we allow fishing, even with the vastness of your waters, there will come a day when they are all caught. By then, the fishermen will suffer."

Ji Feng smiled. "Yes, as an industry, it must be sustainable. Besides, Jeju Island is different from the United States. Your waters are vast, and even with open fishing, it's not a problem. But I can't do that. With hundreds of thousands of mouths to feed, I have to think about future generations."

Ji Feng also mentioned to Obama the possibility of his fishing company operating in US waters, to which Obama readily agreed. It was not a big deal, as the US had vast waters that could accommodate such operations.

Finally, Ji Feng took the Obama family to the Flying Oil Field, where they witnessed the shallow-water oil drilling platform. The massive structure, resembling a giant crab, left the family in awe, especially when they saw the 680mm thick oil pipe extending into the sea, which made Obama's head spin. If the platform's daily production was only 80,000 tons, it was not much, and it seemed that either the Flying Oil Field was not operating at full capacity or the oil was somewhat viscous.

Back at the hotel, Obama relayed what he had seen to his energy minister, who immediately realized something. He was almost certain that the first scenario was true because the crude oil from the Flying Oil Field was of good quality, closer to heavy crude, and could not be viscous.

Thinking about this, he took out a calculator and did some calculations. The final number on the screen made him almost fall over. 270,000 tons. A single oil well could produce 250,000 to 270,000 tons per day. If all nine wells of the Flying Oil Field were operational, their daily production could reach 2 to 2.5 million tons.

Back at the hotel, Ji Feng saw the report from Spark. The newly issued Ji Yuan had been stable for just three days, with no signs of large-scale manipulation or runs on the currency. He was relieved, as he had been worried that the currency might be manipulated to the point of losing control. Fortunately, Spark and his team had assured him beforehand, and now that things were going smoothly, Ji Feng entrusted all the matters to the professionals, with the simple requirement of financial, economic, and social stability.

The next day, the US Energy Secretary took the initiative to place an order on behalf of US energy companies for the Flying Oil Field. Although the US and the Gulf of Mexico had high-quality crude oil, no one was complaining, especially given the potential of the Flying Oil Field, which could serve as a crucial supplement in times of need.

On the fourth day, the two key figures finally stopped sightseeing and spent the entire day in the hotel, discussing and signing multiple documents in the presence of both parties.

At the final press conference and farewell banquet, the results of the negotiations, which had been the subject of much speculation, were finally revealed. The results brought joy to some and concern to others.

Among the multiple agreements and collaborations, the first to be mentioned was the Free Trade Agreement and the Free Movement Agreement between the United States and Jeju Island, which would fully open their markets to each other. Jeju Island's seafood, agricultural products, light industrial products, handicrafts, and cultural products would all have the right to enter the US market duty-free and without inspection. Additionally, all Jeju TV channels would be allowed to operate in the US, and US satellite and cable TV providers would complete the necessary adjustments by the end of the year.

Jeju TV, which was established with English as the primary language, would not be a concern for US viewers. However, it would also include Korean, Chinese, and Japanese channels, with plans to add more specific channels based on content.

In return, US TV channels and products would have the same rights to enter Jeju Island and its subsequent regions without inspection or tariffs, with no artificial barriers, and both sides would compete in the market.

The US agricultural market would be fully open to Jeju Island. In the coming period, Jeju farms would purchase large tracts of land in the US to supply the daily needs of 200,000 people, addressing the island's food production shortfall. Over the next two years, Jeju Island would order one million tons of wheat, corn, and rice from the US each year.

Harvard University would collaborate with Jeju Island to establish a Harvard (Jeju) University on the island, with the same curriculum and resources as the main campus. Jeju Island would fund the construction and ongoing needs to enhance the island's high-level talent development, a plan that Harvard University had recognized.

The Flying Oil Field would strive to increase its current crude oil production and join the New York Mercantile Exchange, ensuring an annual supply of at least 50 million barrels to the US to support its energy reserve plan.

As the owner of Jeju Island, Ji Feng planned to increase his holdings of US Treasury bonds by 50 billion dollars over the next five years, making him the largest private bondholder in the US.

Among the dozens of contracts and agreements, the most shocking was the last one. Jeju Island planned to order 68 F-22 Raptor fighter jets and all their accompanying systems and weapons from the US. Additionally, over the next five years, the US would custom-build 25 littoral combat ships for Jeju Island to ensure the security of its airspace and territorial waters.

The over 30 billion dollar military order left the world momentarily speechless. Everyone was wondering what Ji Feng was up to.

Although the US had never exported F-22 fighters before and the production line had been mothballed, the nearly 20 billion dollar order and the public disclosure of the deal indicated that the US government was considering it. If no one could stop it, it was almost certain that Ji Feng would secure these fighters.

Despite US laws prohibiting the export of such superior weapons to any country, including allies, Jeju Island was not a country. Given the level of discussion, it was clear that both sides were confident they could get the deal through Congress.

The mention of "custom-built" left a lot of room for interpretation. It could mean lower specifications or even higher technological advancements. Although the US would not export such a dominant air superiority fighter to any other country, the presence of high-ranking US officials and the friendly discussions between Obama and Ji Feng left everyone uncertain about the relationship between the US and Ji Feng, or whether Ji Feng had fully aligned with the US.

Regardless, neighboring countries knew that this was a significant development. It was unclear who Ji Feng was targeting, and the repeated mention of "Jeju Island and its subsequent islands" in the agreements immediately brought to mind Indonesia, which had been hesitant to give a clear answer.

---

End of Page AD

Start of Page AD