Tech Giants: Starting from Bankrupt Companies

306: Chapter 306 Southeast Asian DominoJakarta’s morning always comes quickly.

The sun rises from the Java Sea, dyeing the entire city gold. The sound of the call to prayer from the mosques has just faded, and the streets are already packed with motorcycles and cars. This megacity with a population of thirty million is starting its busy day.

The Presidential Palace, located in the city center, is a white building that blends Dutch colonial style with traditional Indonesian architectural features. At this moment, Joko Widodo is standing in his office, still holding the phone receiver.

He has just hung up the call with Su Chen.

Sixty-five-year-old Joko Widodo, dressed in a white shirt with sleeves rolled up to his elbows, doesn’t look like the president of a country, but rather like a farmer ready to work in the fields. But the light in his eyes lets people know that this man is not simple.

”Vietnam has already signed,” he says to his aide nearby, ”We cannot wait any longer.”

The Coordinating Minister for Economic Affairs sits on the sofa, holding a cup of coffee: ”Mr. President, our delegation is still preparing. It will take at least until next week to set off.”

Joko Widodo shakes his head: ”Next week is too late. Thailand is already packing its bags, and the special envoy from the Philippines has already boarded the plane.”

He walks to the window, looking at the city outside.

”Indonesia is the largest economy in ASEAN. With a population of 270 million, we are the fourth most populous country in the world. We have nickel, tin, copper, and bauxite. Yet our young people are still going to Malaysia to work as laborers, to the Middle East to work as servants, and to South Korea to work as fishermen.”

He turns around.

”Tell Su Chen that I will call him personally.”

At nine o’clock in the morning, the call is connected.

Joko Widodo skips the pleasantries: ”Mr. Su, Indonesia is the largest economy in ASEAN. The 28nm chips and car production lines that Vietnam has, Indonesia also needs. Moreover, we need more. You name the terms.”

On the other end of the line, Su Chen’s voice is very calm: ”Mr. President, Xingchen’s principle is—first come, first served, and production capacity is limited.”

Joko Widodo laughs: ”I know. That’s why I’m calling personally. My delegation will depart tomorrow. The Minister of Energy and Mineral Resources, the Minister of State-Owned Enterprises, and the Minister of Investment will all go.”

”Nickel mine cooperation?”

”We can talk about it.”

”Battery factory?”

”We can build it.”

”chip packaging and testing?”

”As long as you are willing to transfer the technology.”

Su Chen is silent for two seconds: ”Mr. President, you have made it impossible for me to refuse.”

Joko Widodo laughs out loud: ”Then don’t refuse. See you tomorrow.”

The call ends.

Joko Widodo says to the Coordinating Minister for Economic Affairs: ”Pass the word down to form the strongest delegation. Fly to Shenzhen first thing tomorrow morning.”

The minister hesitates: ”What about the United States...”

Joko Widodo waves his hand.

”Can the United States give Indonesia 28nm chips? Can they provide the entire lithium battery industrial chain? Can they provide jobs for 130 million young Indonesians?”

The minister is silent.

”No,” Joko Widodo answers for him, ”Then shut up.”

Two o’clock in the afternoon, Government House, Bangkok.

Thailand is a peculiar country. It was never colonized, yet it has always been a step behind in the modernization process. It is sometimes pro-US, sometimes pro-China, and sometimes sways between both sides. But one thing remains unchanged: it wants to develop.

Interim Prime Minister Prayut sits at the conference table, looking at the news of Vietnam’s signing on the big screen.

Seventy-year-old Prayut is a former military man, having served as Commander-in-Chief of the Army, launched a coup, and pushed for reforms. His face is carved with the traces of time, but there is still light in his eyes.

”Vietnam was once poorer than us,” he says in a low voice, ”Now, they are going to build chip factories.”

The Minister of Commerce raises a hand: ”Prime Minister, we have already had contact with Xingchen. They are willing to talk about new energy vehicles and batteries.”

”Then go,” Prayut says decisively, ”Tomorrow, you lead the team. Take the Board of Investment, the Ministry of Industry, and—take our sincerity with you.”

The Foreign Minister hesitates: ”The US Ambassador to Thailand met with me yesterday, hoping we would be cautious.”

Prayut laughs, a smile with a unique military disdain.

”The United States bought $35 billion worth of goods from Thailand last year. But are they willing to give us technology?”

No one answers.

”Xingchen is willing,” Prayut stands up, ”Remember, what Thailand wants is not charity, but cooperation.”

Four o’clock in the afternoon, Manila Airport.

Philippine special envoy Carlos Dominguez boards the private plane to Shenzhen.

Seventy-year-old Dominguez is a confidant of Duterte, having served as Secretary of the Treasury, Secretary of Transportation, and is now the President’s economic advisor. He is not tall, with gray hair, but his eyes are sharp.

He holds a document in his hand.

It is the cooperation proposal that Duterte personally revised.

Philippines-Xingchen Nickel Mine Cooperation Agreement

The Philippines has the world’s second-largest nickel reserves, with an annual output of about 300,000 tons.

Xingchen provides nickel processing technology and battery material production lines.

Joint venture to build a nickel refinery in Mindanao, with an annual output of 200,000 tons of battery-grade nickel.

Xingchen promises: Products will be supplied to the ASEAN market first, with the remainder exported globally.

The Philippines promises: Ensure project safety and provide ten years of tax incentives.

Before boarding, Duterte called him personally.

The old man’s voice was still as rude and direct as ever: ”Carlos, tell Mr. Su that the Philippines is not choosing sides. The Philippines is choosing economic development.”

”What if they ask about the United States?”

Duterte laughs on the other end of the line: ”The United States? Can the United States provide nickel processing plants? Tell them, if they can, we’ll talk. If not, don’t talk nonsense.”

Dominguez also laughs.

The plane takes off, and the streets of Manila outside the porthole get smaller and smaller.

He knows that this trip might change many things.

Five o’clock in the afternoon, Xingchen Headquarters.

In Lin Wan’s office, three visit requests are placed on the table at the same time.

First: Indonesian delegation, twelve people, arriving tomorrow. Led by the Minister of Energy and Mineral Resources, the Minister of State-Owned Enterprises, and the Minister of Investment, requesting comprehensive talks.

Second: Thai delegation, nine people, arriving tomorrow. Led by the Minister of Commerce and the Secretary-General of the Board of Investment, targeting new energy vehicles + batteries.

Third: Philippine special envoy, has arrived, requesting an urgent meeting. Bringing the nickel mine cooperation proposal.

The secretary smiles and hands over the tablet: ”Ms. Lin, we can open the ’ASEAN queue window’.”

Lin Wan shakes her head. She is twenty-six years old this year, the youngest executive at the presidential level at Xingchen, but she has already seen this kind of scene many times.

”It’s not a queue,” she says, ”It’s dominoes.”

She dials Su Chen’s number: ”Mr. Su, Indonesia, Thailand, and the Philippines have all arrived. We need a unified plan.”

Su Chen’s voice comes through the receiver, as calm as if he were chatting about the weather: ”Launch the ’ASEAN Industrial Plan’. Ten years, help ASEAN build a complete industrial chain.”

Lin Wan is stunned for a second.

”Ten years? A complete industrial chain?”

”Yes,” Su Chen says, ”It’s not about selling a few pieces of equipment, not about transferring a few technologies, it’s about turning them from low-end assemblers into high-end players. chips, batteries, cars, AI, robots—give them everything.”

”What’s the cost?”

”The cost is—” Su Chen pauses, ”From now on, the industrial standards of ASEAN will be Xingchen’s standards. ASEAN’s industrial chain will be tied to Xingchen. When they develop, we develop. When they fall, we save them.”

Lin Wan is silent for three seconds.

”Understood.”

Seven o’clock in the evening, Xingchen International press conference.

Lin Wan stands on the stage, with a huge map of Southeast Asia behind her.

The audience is full of reporters. Chinese media, ASEAN media, European and American media—everyone knows that what is to be announced tonight might change the rules of the game for the entire region.

”Today, Xingchen announces the launch of the ’ASEAN Industrial Plan’.”

The big screen displays the framework.

Phase I (2019-2022): Basic industrial layout

Vietnam: chip packaging and testing + Car manufacturing + Mobile phone assembly (Already signed)

Indonesia: Battery materials + Nickel mine processing + New energy vehicles

Thailand: Auto parts + Robots + Data centers

Malaysia: Semiconductor packaging and testing upgrade + AI computing center

Philippines: Nickel refining + Photovoltaic components + Digital infrastructure

Phase II (2023-2026): Industrial chain integration

Build unified ASEAN technical standards

Achieve 70% autonomous supply of parts within the region

Create the ”Made in ASEAN” brand

Phase III (2027-2029): Comprehensive industrialization

ASEAN becomes the world’s third-largest industrial center

Per capita GDP doubles

The reporters below are recording frantically.

A reporter raises a hand: ”Ms. Lin, does this mean Xingchen wants to dominate the ASEAN economy?”

Lin Wan smiles.

”Dominate? No. It’s mutual growth.”

She pauses.

”Vietnam chose Xingchen, not because Xingchen forced them, but because Xingchen gave them the right to develop. Indonesia, Thailand, and the Philippines coming today is the same.”

”In the past thirty years, the industrialization of Southeast Asia was designed by the United States—you do the low-end assembly, we take the high-end profits. What Xingchen wants to do is to give every country the opportunity to become a high-end player.”

Applause breaks out.

It is not polite applause, but heartfelt.

Because those ASEAN reporters know that what Lin Wan said is true.