Chapter 803: Trade deficit

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Failed to retain the main force of the French army, Hutier and others did not continue to pursue the interest of killing the Egyptian colonial army. After the battle was over, the eighth division immediately began the conscription campaign.
In just one week, the establishment of the eighth division has tripled, and all the young and strong around it have been called out.
Finally, there is a conscience. There are no real scholars who put men, women, children and children into the army as cannon fodder.
The army followed the mighty advance of the Nile River, turned a blind eye to the cities along the way, and specially selected the plantations in the countryside to start.
On the one hand, the manor was destroyed, and on the other hand, the enslaved Egyptians were recruited into the army to spread the idea of ​​national independence.
Relying on bullying and fearless play, the eighth division was smooth sailing and quickly expanded like a snowball.
In contrast, the progress of the main force of the uprising is much worse. Unlike Hutier and others who left with a single vote, the top of the rebel army still pursued it.
If you want to be a warlord, you will naturally have a lot of territory. Mahdi, the leader, could not bear the scene anymore, and all the major factions were sent to grab the ground.
Even in order to grab the ground, he also fought. If the threat from the French was not present, it is estimated that the rebels would separate themselves.
In order to unite the insurgents and fight against the French counterattack, Lieutenant General Gerrett has been on many occasions to coordinate the relations between the parties.
However, the mess is still messy. The composition of the rebel army is too complicated, and internal contradictions are emerging one after another. It is only under the threat of the French that they have maintained an empty shelf of unity.
Mahdi, the leader of the rebel army, was very dissatisfied with this situation. The fact that the Aswan Dam was blown up in front of him made his prestige fall within the rebel army.
If it is not for the support of the British, it is still unknown whether he can sit firmly in the boss's position.
At this time, if he didn't know that he was pitted by the British, Mahdi could not leave Heweiwei's name in the original time and space.
The fact once again proved that any pot can be memorized, but the black pot cannot be touched.
In the name of cruelty, Mahdi is difficult to solicit the younger brother. Everyone really does not like this one who may betray their boss at any time.
Affected by this, Thunders, the second character of the Uprising, took his own troops directly to the valley plains, preparing to sever the party.
Mahdi could do nothing about it. Although he won the first round of the anti-siege war, his political reputation fell sharply.
There is no physical restraint, and the uprising army, which is pulled up by personal prestige alone, is itself a loose alliance.
Forced by frustration, Mahdi can only join the ranks of grabbing ground. This dissatisfied Lieutenant General Jarrett who wanted to use his skills to smash Huanglong.
At the headquarters of the Uprising, Lieutenant General Jerette said, "You, the crisis has just begun, and it is far from the time to enjoy the fruits of victory.
The French will not be willing to fail. It will not take long for them to make a comeback. At that time, we will not be confronted by the colony of the colony.
You must have heard the name of the world ’s first army. This was not blown out by the French, but shot out of the battlefield with one shot at a time.
With a fluke, he won a victory, but the same tactics could not be used a second time. After the last time, the French could not go to the second time.
In the future, we will face an unprecedented bitter battle. To gain an advantage in the next battle, we must first win here. "
Looking at the position pointed by Lieutenant General Jarrett's baton, it was no surprise that it was Cairo.
This ancient city, with its political, economic and military values, is essential for the next battle of the Uprising.
After winning Cairo, the uprising army had a frontline of independence from the French.
A middle-aged man asked in doubt: "Had you, Lieutenant General, have the 8th Division set out for Cairo?"
In his view, the French army in Cairo suffered heavy losses in the recent battle. It is now at the time when its strength is at its most empty, and it can't stop the eighth division at all.
Jarret shook his head: "Esson, you are too optimistic, Cairo is different from the small cities you encounter.
In fact, the reason why the uprising troops went smoothly was that the French in these small cities were frightened and did not organize decent confrontation at all.
Cairo is different. This is the center of Egypt. The French will definitely not give up.
The news of the defeat on the front has been passed back, and the French who are left behind estimate that a new defense army has been organized at this moment.
In the absence of heavy firepower, the eighth division wanted to seize the French guarding the city of Cairo, which is completely a fool's dream. "
Frankly speaking, Jarrett was still very satisfied with the eighth division commanded by the Austrians.
Whether it is to destroy cotton plantations along the way, or go straight to the delta, it is in the interests of Britain.
Judging from the current situation, Egypt's cotton production capacity is destined to plummet this year, and it will be difficult to recover in the next few years.
This is undoubtedly the biggest good news for British cotton spinning companies. The trade-offs, the shortage of raw materials from competitors and the decline in production capacity are undoubtedly the best time to seize the market.
Although this was not planned by Jarrett, it did not prevent him from stopping this credit for himself.
Politics also pays attention to equivalent exchange. As the leader of the Egyptian rebellion, after returning to China, they will naturally receive a return from domestic enterprises.
It may be economic, or it may be political. In short, Lieutenant General Jerette made a big profit this time.
Inspiring the rebels to attack Cairo is only part of Lieutenant General Geret's plan. If possible, he most hopes that the rebel soldiers will be on the Suez Canal.
It is best to block the navigation of the canal, and then the British Empire can use the opportunity to defend the canal to navigate and penetrate the forces into the Suez Canal area.
...
The capital market is keen. Affected by the defeat in the Egyptian battlefield, the shares of Parisian textile companies plummeted, and many companies engaged in the operation of Egyptian plantations went bankrupt.
Due to the storm, the Parisian stock market fell 11.4% overall in a short week, and the market value of billions of francs was evaporated.
International cotton prices also experienced violent shocks. In the London cotton futures market, cotton prices surged by a third.
Under this double blow, the French cotton textile industry ushered in the biggest winter.
Affected by the reduction in the supply of raw materials, countless companies announced layoffs and production cuts. For a time, the social unemployment rate skyrocketed, and the French economy was again challenged.
Despite preparations, Napoleon IV was like another world when all this happened.
No matter how hard I feel in my heart, the problem will still be solved, otherwise a new round of economic crisis will break out.
After the Paris Revolution, Napoleon IV was extremely vigilant about the economic crisis that might shake the foundation of his rule.
"The domestic economy continues to deteriorate, what plan does the Ministry of Economy have?"
After a little thought, the Minister of Economy Elsa replied cautiously: "This economic turmoil is mainly affected by the Egyptian rebellion, and the cotton production capacity has dropped significantly.
Joining this year, North America suffered a drought, cotton production capacity has declined, and the rise in cotton prices in the international market is a foregone conclusion.
The Ministry of Economy recommended that the government temporarily waive cotton import tariffs, reduce the cost of textile raw materials imports, and grant them low-interest loans to get through. "
Is it possible to reduce the tariff?
the answer is negative.
Insufficient supply of cotton in the international market means that there must be companies that cannot purchase enough cotton.
Capital cooperation is also about first-come-first-served basis. Capitalists engaged in cotton wholesale will definitely prefer to cooperate with reliable old customers at a similar price.
Many supply cooperation relations have lasted for several years, or even decades, and it is simply not easy for latecomers to pry.
Most of these enterprises are concentrated in Britain. As the rising star of the French cotton textile industry, more of them developed after occupying the cotton producing area of ​​Egypt.
Unless a high price can be bought, French textile companies will not be able to buy enough cotton in the international market.
It is precisely because of all this that many companies have announced layoffs and production cuts in advance of the cotton reserves that have not been exhausted to cope with the subsequent crisis.
Foreign Secretary Terence Burgin reminded: "It is not so simple, international cotton wholesalers are not fools, and with such a good opportunity, they cannot fail to do anything.
If nothing goes wrong, they may use this as a threat, allowing us to permanently abolish cotton import duties. "
Tariff barriers are also one of the main reasons why the French cotton plantation economy can develop.
The high tariffs made the originally cheap cotton lose its competitiveness after entering the French market, and local plantation merchants made a fortune.
Driven by interests, capitalists who have invested in cotton plantations in recent years are also increasing. The French have basically achieved cotton self-sufficiency.
This damages the interests of overseas cotton growers and wholesalers, and everyone is desperate for this market.
Normally there is nothing wrong with it. The power of France is not something that these interest groups can shake.
But now it is different. There are problems in the French cotton supply chain, and we have to find a way from the international market.
Economic Minister Elsa objected: "It is impossible to abolish cotton import tariffs. Without sufficient incentives, domestic capitalists will never put money into cotton plantations.
Moreover, this is not just a cotton issue, but also involves other industries.
Once compromised here, the subsequent calls for us to abolish tariffs will continue to emerge.
In view of the domestic economic development, for a long period of time in the future, we must all adopt tariff barriers to protect domestic national industries. "
This is a fact, which has been proved in the previous economic crisis. Participating in international competition, France is really not good now.
Chancellor of the Exchequer Roy Vernon: "Not only that, but our foreign exchange reserves have fallen sharply in recent times.
Now it is necessary to purchase cotton in large quantities from the outside world, which will inevitably consume a lot of foreign exchange, and the foreign exchange reserves of the empire have fallen into a very dangerous position.
As of now, our holdings are GBP 31.876 million, Aegis 65.423 million, plus other niche currencies, totaling approximately 1.78 billion francs. "
Since the Paris Revolution shot, the French economy has been in a trade deficit for many years. Relying on tariff barriers, trade balance was finally achieved. Good days did not pass a few days, and now it is in a state of deficit.
The long-term capital outflow is obviously not conducive to the development of the national economy. Finding ways to reverse the trade deficit has become a big problem for the French government.
Economic Minister Elsa: "The Marquis is right. To restore the domestic economy, we must find ways to get rid of the trade deficit.
Don't think about increasing exports for a while, even if there are no tariff barriers, our industrial and commercial products are not competitive internationally.
In a short period of time, the best way to solve a problem is to reduce foreign exchange expenditure.
At present, the major commodities we import are: grain and coal.
The local coal production is insufficient, and North Africa has not found a large coal mine. The only large coal mine that is in our hands is far from the Indo-China Peninsula.
However, to meet the local needs, the production capacity is still not enough, and also have to bear high transportation costs, self-sufficiency is simply impossible.
The only thing that can be found is food. Algeria, Tunisia, and Morocco all have areas suitable for agricultural production. It is not a problem as long as they are developed to meet domestic needs.
The rate of return on investment in food plantation is too low, capitalists will not participate, and can only focus on government investment.
This is also a good thing. As long as we control this degree, we can ensure that food self-sufficiency is achieved without harming the interests of domestic farmers.
Not only can it save a lot of foreign exchange expenses, it can also crack down on our competitors on the European continent and ensure food security. "
Ever since the African farm plan was proposed, Elsa has become an advocate of this policy, constantly promoting its benefits.
Of course, this is just the outside view. In fact, Elsa did this more often.
Withdrawing from the free trade system also has advantages and disadvantages. While gaining benefits, it also needs to bear the drawbacks brought about by this policy.
You restrict me, I naturally want to restrict you. Affected by high tariffs, French industrial and commercial exports fell sharply.
This is only a small problem. With the protection of trade, international competitors are driven away. The share left by the local market is enough for capitalists to make up for the loss.
But is France still a big importer of industrial raw materials?
The strategy of the Great Development of Africa that year was one of the measures that the French government wanted to get rid of its dependence on the outside world.
Although the development of North Africa has been slow because of insufficient funding, it can be considered successful in terms of results.
For many cash crops, including cotton, France has basically achieved self-sufficiency. Even if it fails to be self-sufficient, the demand for imports has also decreased.
However, this is not enough. Not all resources are able to make blood on their own, and coal and food are still flawed.
Elsa cannot do anything about non-renewable coal. Faced with the trade deficit, he can only start by choosing food that can be resolved.
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