Capítulo 497: Chapter 497: Economic Models
[Chapter 560: The Southeast Asian Miracle]
With Galaxy's IPO, a new landscape in Hollywood was officially taking shape.
On Friday, May 10, Galaxy's disaster blockbuster Twister premiered at the Galaxy Theater in Hollywood. Twister hit 2,520 theaters across North America, raking in an impressive $41 million in its opening weekend!
At the Galaxy party held at the Ritz-Carlton in Beverly Hills, Arthur Smith and Cristiana Reali bumped into the creative team behind Twister, including director Jan de Bont and leading lady Nicole Kidman.
Meanwhile, Galaxy's stock had skyrocketed to $74, surely buoyed by Twister's box office success. Nicole Kidman, having purchased 300,000 shares of Galaxy stock for just $3 million, was nothing short of ecstatic!
In the hotel bathroom, Arthur leaned against the wall with his hands gently running through Nicole Kidman's hair as she knelt before him. "Wow, Nicole, you still have to go promote the movie," Arthur said, pulling away his hands.
After a moment, Nicole stood up and rinsed her mouth at the sink, her cheeks flushed and her hair slightly disheveled. "You don't like it? Well, next time, I'll refrain from doing that," Nicole smiled, starting to touch up her makeup. "Are you going to want me to come over tonight?"
Arthur shook his head, "You're the star of Twister, and you're super busy with promotions right now."
Nicole rolled her eyes, "You're probably feeling overwhelmed too, right? Considering all the women around, I can't imagine how you manage!" Cristiana, standing next to Arthur, was someone she recognized.
He wrapped his arms around her from behind, his hands slipping into her evening gown, caressing her softly. "I've just been too busy with Galaxy's IPO to focus on anything else!"
Nicole Kidman breathed a bit heavier, "Is the pressure too much?"
Arthur shook his head, "Not really, the results are great, aren't they?"
...
After chatting for a bit longer, Arthur decided to leave the restroom and return to the banquet hall. Cristiana Reali then shared a tidbit with him, "Someone from Sony is having a discussion with director Jan de Bont."
"Someone from Sony?" Arthur chuckled, "What's the big deal? They're probably just seeking a collaboration. It's not like we're still in the era of the big studio system."
"Twister is also set to release in Europe soon. Next, MGM has The Rock and Independence Day lined up, I've got to head back to France," Cristiana reminded him.
"Okay, I need to leave the U.S. too. I'll swing by Europe to see you," Arthur admired Cristiana; she was so agreeable and took good care of people!
"Great, I'll be waiting for you."
...
In the following days, Arthur attended several more parties and discussed the development of DVDs with other Hollywood media moguls. After settling the upcoming Galaxy business, he was geared up to head to Asia.
"So you're saying Sony is collaborating with Toho to develop a monster hit Godzilla? Because of Twister, Sony wants Jan de Bont to direct it?" Arthur sat back in his chair at the Galaxy office, surprised by Anna Walker's news.
After all, he'd thought that Godzilla was supposed to be directed by Roland Emmerich!
"Yes, Sony has obtained the remake rights from Toho and is in talks with Jan de Bont. I hear the investment for Godzilla starts at $120 million!"
Arthur grimaced; he thought the $92 million budget for Twister was already too high. With promotional costs, Twister exceeded $120 million, especially when looking at Roland Emmerich's Independence Day, which had a budget of only $75 million.
"It won't be that quick, though. Sony's big release next year is Men in Black, with a budget of $90 million," Arthur tapped on the table, "Universal has Jurassic Park 2: The Lost World and Warner Bros. is set to release Batman & Robin next year. Isn't 20th Century Fox getting ready to start filming Titanic soon?"
"Very soon, next month," Anna Walker knew her boss had been keeping a close eye on that project.
Arthur nodded, smiling, "Make sure to notify Amy Pascal; when James Cameron goes over budget, 20th Century Fox is going to be in a pinch looking for partners. MGM would definitely be interested in partnering, just like we did with Paramount for Face/Off."
"Sure thing..."
...
By late May, during the Cannes Film Festival, after selling 12.6 million shares of Galaxy stock for $900 million in cash, Arthur left the U.S. for Hong Kong. As Asia's financial hub, Hong Kong held significant importance.
With Jim Colt overseeing Wall Street, Emily Shead accompanied Arthur to Hong Kong, launching a preliminary strike against Indonesia.
In the office of Central Plaza in Wan Chai, Hong Kong Island, Arthur sat back in his chair, gazing at Victoria Harbour.
Beside him, Emily Shead was briefing Arthur on the Southeast Asian situation. "The miracle of Southeast Asian development in recent years is mainly due to an unhealthy economic model. Economic growth can stem from two types: investment-driven growth and efficiency-driven growth."
Arthur turned, "Elaborate."
Emily smiled, "Investment-driven growth results from continuous increases in inputs, such as labor and capital, like machinery, buildings, and infrastructure. It's subject to the law of diminishing returns. This type of growth is hard to sustain, prone to interruptions, and can backfire, as even large countries can easily fall into overcapacity by relying on labor and capital alone. It may achieve rapid short-term growth, but in the long run, it's a low-efficiency model."
Arthur pondered, "So, efficiency-driven growth represents long-term sustainability?"
"Exactly," Emily nodded.
"The sustainability of efficiency-driven growth has lower volatility. It focuses on technological advancement and can improve the welfare level of the nation's citizens. The current Southeast Asian economic model resembles the Soviet Union back in the 1950s and 60s, primarily driven by an extraordinary governmental capacity for resource mobilization rather than efficiency. Back then, the Soviet Union's economic growth rate was unparalleled compared to today's Southeast Asian countries, and this method works fastest for large countries due to their superior labor and capital mobilization capabilities."
*****
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