The economic crisis was still raging, impacting all industries, but shipping was an exception. Due to policies implemented by the Austrian government, European companies engaged in maritime shipping saw a surge in business, experiencing an unexpected boom despite the downturn. First came the Eastern European mass migration policy, which sent over a million people from East and West Prussia to Africa. Now, another wave of cross-border “resettlement” has begun. International shipping companies were thriving, and as a result, the economy even showed signs of recovery. Of course, this was merely an illusion. The economic crisis was far worse than it appeared. To weaken their competitors, Britain and Austria continued their dumping strategies. With their advantages in technology and raw materials, British and Austrian industrial goods were produced at lower costs than those of other European countries, making dumping easier. While other nations were losing money, Britain and Austria could at least break even, allowing them to sustain their actions. Their capitalists were willing to invest heavily just to eliminate competition. As a result, calls to exit the free trade system and establish protective tariffs were growing louder across Europe. In Paris, a revolution had just ended, and the blood had barely dried when citizens once again took to the streets in protest. They opposed the dumping of British and Austrian goods and demanded that the government protect the domestic market. Listening to the “voices of the capitalists,” no, the voices of the people outside, Napoleon IV felt an overwhelming sense of pressure in his temporary palace. Minister of Economy Ezra analyzed the situation carefully: “Although there are signs of economic recovery, the pace is far too slow. Most industries are struggling under the impact of foreign goods. If we want to restore the economy in a short period, the best solution would be to exit the free trade system and protect our domestic market. However, doing so would risk isolating us internationally. We need to rally more countries to exit the free trade system together so that we can collectively share the pressure from Britain and Austria. Many countries around the world are suffering under Britain and Austria’s large-scale dumping policies, and they are eager to change the situation. As a global power, France has a responsibility to lead the way in freeing nations from British and Austrian economic oppression and establishing a fair commercial system without predatory pricing.” The first part of his statement was within the minister of economy’s domain, but the latter half clearly overstepped into diplomacy. Generally, forming alliances was the responsibility of the Foreign Ministry. Foreign Minister Terence Bourquin frowned and said, “Minister, it’s not that simple. The countries most affected by British and Austrian dumping are industrialized nations. However, colonial empires like the Netherlands, Spain, and Portugal have limited industrialization and are largely unaffected. They might even be celebrating, thrilled by the falling prices of goods. Since their own interests aren’t at stake, they won’t side with us. In Europe, aside from us, the only other nations seriously impacted are Belgium and North Germany. Are you sure we want to align with them?” It is not a question of whether they can be won over, but rather that they simply cannot. The large-scale dumping by Britain and Austria may be financially damaging, but it cannot last forever. If they endure it for a while, the problem will pass. On the other hand, France wants to swallow them whole. No matter how much the French government tries to downplay it, the public’s calls for eastward expansion have left Belgium and North Germany deeply unsettled. How could they sleep soundly without clinging to Britain and Austria for support? Minister of Economy Ezra responded without hesitation. “Of course! Since the economic crisis began, unemployment has been rising across all nations, and the governments of Belgium and North Germany are under immense pressure. If they have the opportunity to escape the crisis, I don’t think they would refuse. As for their concerns, we can offer them guarantees. We could sign a treaty with both countries to ensure their national defense while turning them into our suppliers of raw materials.” Hearing this explanation, Foreign Minister Terence Bourquin could not help but laugh in disbelief. He questioned, “Minister, do you think the rulers of Belgium and North Germany are fools? Unlike us, they do not have colonies to rely on. If they exit the free trade system, who will buy their goods? Where will they get their industrial raw materials? Turning them into raw material suppliers… Minister, you certainly have bold ideas! And as for guaranteeing their security, what will we use to back up that promise? Why would they ever believe us?” These days, a rising unemployment rate is not really a big deal. Whether in the major colonial empires or the countries of the Americas, European immigrants are always welcome. Besides, Belgium and North Germany are key areas for Austrian migration. With the colonial government covering the cost of passage, those who lose their jobs and livelihoods can simply emigrate overseas. As long as the government cooperates with the propaganda efforts, it can get rid of the problem. Without the revolutionary pressure caused by mass unemployment, people will naturally weigh the pros and cons more carefully. Markets and industrial raw materials are one thing, but the real benefit is joining Britain and Austria in driving up coal export prices and making huge profits. Who wouldn’t want that? Only a fool would turn down easy profits and instead become France’s supplier of raw materials. As for security guarantees, that is an even bigger joke. If a mere treaty could provide true security, then what would be the point of having an army? France’s credibility is only slightly better than that of Britain and Russia. If the French government wants to rely on it to achieve dominance, they still have a long way to go. Does the Minister of Economy not understand these issues? Of course he does. There is no way someone could rise to such a high position by being truly incompetent. But sometimes, feigned ignorance is useful. Especially for politicians, for whom pretending not to know is practically a required skill. Most absurd policies are born under these circumstances. While they may seem laughable on the surface, they often conceal hidden chains of interest beneath them. It is the domestic industrial and commercial capitalists who need trade protection. If economic development is the goal, dealing with these people is inevitable. Over time, they naturally become allies. The capitalists need to make money, and Ezra needs political achievements. Pushing forward trade protection policies benefits them both. Knowing that his argument was weak, Minister of Economy Ezra still forced himself to defend it. “Isn’t there still the United States? The United States is also close to completing its industrialization. They are victims of British and Austrian dumping as well and are eager to break free from this constraint.” At the mention of this unreliable ally, everyone became irritated. To support American independence, France had practically sold everything it had. Then, as soon as the War of the First Coalition broke out, the American government wasted no time in kicking France while it was down. Of course, Napoleon III eventually got his revenge. During the American Civil War, Britain, France, Austria, and Spain all intervened, successfully splitting the United States. Minister of Finance Roy Vernon chimed in, “The domestic economic situation is dire, and government revenue has plummeted as a result. Our national debt has reached an extremely dangerous level. Perhaps some of you haven’t noticed, but we now have the highest government debt in the world, and every month, we have to pay an enormous amount in interest. If this situation doesn’t change, it’s only a matter of time before we go bankrupt.” A France that had not fought a major war now had more government debt than the Russian Empire. It sounded unbelievable, but it was an undeniable fact. As the first country in the world to use government investment to stimulate the economy, France has operated under a financial deficit for most of its history. Over time, the accumulated deficits have turned into an astronomical amount of debt. In the short term, people’s lives did improve, but this also meant borrowing against the future. Starting with the transformation of Paris under Napoleon III, government investment in infrastructure drove economic growth, ushering in a golden age for the French economy. Originally, this model could have been sustained for many more years, but unfortunately, Britain and Austria recently launched an attack on France’s financial system, causing the value of the franc to plummet by a third. This was followed by an economic crisis and a civil war. The successive blows shattered France’s financial system and weakened the French government’s ability to secure funding. Under these circumstances, the French government had no choice but to tighten its belt. Napoleon IV nodded and said, “Exiting the free trade system is a last resort. If the domestic economy improves, we can always return to it. The Ministry of Foreign Affairs must do everything possible to bring in more allies to share the international pressure with us. At the same time, we must also focus on diplomacy and explanations, ensuring that others understand the difficulties we face and minimizing international hostility toward us.” Exiting the free trade system would, at worst, offend Britain and Austria and lead to a period of diplomatic isolation. But the French were already used to that. If they wanted to isolate France, so be it, it wouldn’t cost them a piece of flesh. Staying in the free trade system, however, meant being fleeced indefinitely. And who’s to say that one day, when Britain and Austria found the returns from shearing too low, they wouldn’t just start eating the sheep instead? The world is full of irony. Driven by self-interest, France now found itself aligning with people it could barely stand. Of course, compared to “the sacrilegious union of the lily and the crescent” of the past, this was nothing. As for the United States, it had been accepted despite facing exclusion at times, thanks to its effective diplomacy and its willingness to serve as a raw material supplier and dumping ground for goods. The great powers naturally welcomed such a cooperative and beneficial underling. At the end of the day, they were all part of the same cultural sphere. Even if they didn’t see eye to eye, it was still a matter of interests rather than deep-seated hatred. “Yes, Your Majesty,” Foreign Minister Terence Bourquin replied gloomily.
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https://postimg.cc/gallery/PwXsBkC (Maps of the current territories of the countries in this novel made by ScH)
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