Holy Roman Empire

The economic crisis was still ravaging every sector, yet the shipping industry was an exception.

Influenced by the policies of the Vienna Government, companies engaged in transoceanic shipping in Europe saw a significant increase in business volume, experiencing a boom in a bearish market.

First came the mass emigration policies of Eastern Europe, with millions from the East-West Prussia Region heading far off to the African Continent, now followed by another wave of transnational "immigrant resettlement".

Companies involved in international trade were having a good time, which even showed signs of an economic recovery.

Of course, this was just an illusion. The economic crisis was far more serious than it appeared on the surface, and to crush their rivals, the Anglo-Austrian two countries continued to engage in dumping.

Leveraging their dual advantages in technology and raw materials, the industrial product costs for the Anglo-Austrian two countries were mostly lower than those of other European nations, creating favorable conditions for dumping.

Everyone was losing money, but they could still break even; naturally, the game could go on. To drag their competitors down, the Anglo-Austrian capitalists had also invested heavily.

As a result, the call to exit the free trade system and establish tariff protection became increasingly loud in the European world.

In Paris, which had just ended a major revolution with the bloodstains not yet dry, Parisians once again took to the streets demonstrating: protesting the product dumping by England and Austria, demanding government market protection.

Hearing the "cry of the capitalists," no, the cry of the people outside, Napoleon IV in the temporary palace felt overwhelmed by immense pressure.

Economic Minister Elsa analyzed solemnly, "Although there are signs of an economic recovery domestically, the speed of this recovery is just too slow.

Most industries are struggling under the impact of foreign goods.

The best way to revive the economy in a short time would be to exit the free trade system and protect the domestic market.

However, by doing so, we could easily be isolated internationally. We need to pull more countries to exit the free trade system together, so we can all share the pressure from the Anglo-Austrian two countries.

Under the grand dumping policies of England and Austria, many countries around the world are suffering greatly and are in urgent need of changing the situation.

As a major world power, France has the responsibility to lead everyone out of the oppression of England and Austria and establish a harmonious commercial system without dumping."

The first part was the speciality of the economic minister, while the latter part was obviously a case of stealing the spotlight. Typically, forming alliances was the domain of the foreign ministry.

Foreign Minister Terence Burke frowned and said, "Your Excellency, it’s not that simple.

The main countries seriously affected by the grand dumping of England and Austria are industrial nations, while colonial empires like the Netherlands, Spain, and Portugal with limited industrialization are not as impacted.

They might even be cheering and excited about lower prices for goods. Without affecting their own interests, they won’t stand with us.

In Europe, aside from us, only Belgium and North Germany are really hit by this. Are you sure you want to woo them?"

It’s not about whether we can woo them or not; it’s that we simply can’t win them over.

The grand dumping by England and Austria can only harm their wealth at most and won’t be able to continue indefinitely—we just need to endure it a bit longer, but the French want to swallow them whole.

No matter how much the Paris Government disguises it, the voice of the people calling for expansion to the east still terrifies Prussia and Germany. Without clinging to the coattails of England and Austria, how can they sleep at night?

Elsa the Economic Minister responded without hesitation, "Of course! After the economic crisis erupted, the number of unemployed people increased in all countries, and the governments of Prussia and Germany are also under great pressure.

I believe they will not refuse the chance to escape the crisis. As for their concerns, we will give them a guarantee.

We can sign a treaty with the two nations, assuring their national defense security, letting them serve as our raw material suppliers."

After hearing the economic minister’s explanation, Terence Burke was almost at a loss whether to laugh or cry and asked, "Your Excellency, do you think the rulers of Prussia and Germany are fools?

You must understand, they are not like us; they don’t have colonies for support. Discover hidden content at empire

After exiting the free trade system, to whom will they sell their goods? Where will their industrial raw materials come from?

You dare to think about making them our raw material producers!

And to assure their security, with what will we assure it, and why would anyone believe you?"

These days, an increase in unemployment rates isn’t really a big deal. All the major colonial empires and the American countries welcome European immigrants.

Besides, Belgium and North Germany are Austria’s key immigration areas. With the colonial government taking care of the ship tickets, those who lose their jobs and livelihood can still emigrate overseas.

All the government needs to do is to promote it a bit, and it can send the trouble away. Without the revolutionary pressure that comes from unemployment waves, everyone naturally weighs the pros and cons carefully.

The market and industrial raw materials are just one aspect, the key is to join England and Austria in jacking up the coal export price—why not make a killing?

Only if your brains were waterlogged would you reject the profit that comes knocking on your door, and run off to become France’s raw material producer.

Safety guarantees are a joke too—what’s the use of an army if a treaty alone could do the job?

France’s credibility is only a tad better than England and Russia’s, and if you want to conquer the world with that, the Paris Government still needs to work hard.

The Economic Minister is unaware of these issues? Obviously, that’s impossible. How could someone who has climbed to such a high position be a fool?

Sometimes it’s advocated to feign ignorance, especially for politicians—for them, playing dumb is a compulsory course.

Pretty much all the nonsensical policies are born under such context. They may look ludicrous on the surface, but often, invisible chains of benefit are hidden behind them.

Domestic industrial and commercial capitalists who need trade protection, those wanting economic development can’t avoid dealing with these people—before long, everyone becomes insiders.

Capitalists need to make money, Elsa also needs political achievements. By promoting trade protection policies, they both benefit.

Knowing full well that his reasons are untenable, Economic Minister Elsa still brazenly argued, "Don’t we still have the Americans?

The United States is also about to complete industrialization. They too are victims of dumping by England and Austria and desperately need to break free from this shackle."

Speaking of this unreliable ally brings irritation to everyone. To support the Americans’ independence, France spared no expense, yet the first thing the U.S. government did after the outbreak of anti-French wars was to add insult to France’s injury.

Of course, Napoleon III got his revenge. During the Civil War, the four countries including the UK, France, Austria, and Spain took sides, successfully dividing America.

"The domestic economic situation is dire, consequently drastically reducing government fiscal revenues. Our debts have reached an extremely dangerous point," Finance Minister Roy Vernon added in agreement.

Perhaps everyone hasn’t noticed that we’re now the government with the highest debt in the world, and we have to pay a huge amount of financial interest every month."

If this situation is not changed, we could very well go bankrupt one day."

France, which hadn’t engaged in a major war, had government debts even exceeding those of the Russian Empire—unbelievable, but an undeniable fact.

As the world’s earliest nation to stimulate the economy through government investment, France has been running a fiscal deficit for most of the time, accumulating a colossal total deficit over time.

Everyone’s life indeed improved in the short term, but at the cost of the future.

Starting with the renovation of Paris during the era of Napoleon III, government investment in infrastructure spurred on the golden age of the French economy.

This model could have continued for many more years, but sadly, not long ago the Anglo-Austrian attack on French finance led to a one-third devaluation of the Franc currency.

Then came the economic crisis, civil wars, a series of combination blows that directly damaged the French financial system, diminishing the Paris Government’s borrowing capacity.

Under such circumstances, the French government had no choice but to tighten their belts.

Napoleon IV nodded, "Exiting the free trade system is a necessary evil. If the domestic economic situation improves, we can consider going back.

The Foreign Office must recruit more allies as much as possible to share the international pressure with us." n/ô/vel/b//in dot c//om

"At the same time, we need to do a good job explaining, to make everyone understand the difficulties we’re facing and reduce the international community’s hostility towards us."

Exiting the free trade system, the worst that could happen is offending England and Austria and facing some diplomatic isolation.

They were used to it anyway—if isolation was what it took, so be it; they wouldn’t lose a chunk of flesh over it.

If they continued to stick with the free trade system, they would be sheared like sheep over the long term.

Who knows, maybe one day England and Austria would decide that shearing wasn’t profitable enough and start eating the sheep instead.

That’s the wonder of the world—driven by interests, France once again had to stand together with those it loathed.

Of course, compared to the "Holy Alliance" of the past, this was child’s play.

The United States of America faced ostracism because the Federation did a good job in public relations and contentedly became the raw material production area and the market for dumping goods for everyone. The powers naturally welcomed this type of beneficial and respectful junior partner.

Essentially, everyone was still in the same cultural circle; any displeasure was just due to interests, not deep-seated hatred.

"Yes, Your Majesty!" the Foreign Minister Terence Burke replied sullenly.