Pri Minister Felix reported, “As of now, there have been 1,876 business bankruptcies nationwide, and unemploynt has reached over 2.47 million people—a historic high.
The cotton textile industry has suffered the most, with one-quarter of textile mills going bankrupt and over half announcing production cuts, reducing output by 37%.
Next in line is the shipbuilding industry. Due to a decline in international trade, shipyards have received almost no new orders in recent months. Even many existing orders have been canceled or declared in default due to the economic crisis.
Steel…”
The bad news continued to echo in Franz’s ears—an inevitable outco of the economic crisis.
During a major recession, market contraction forces businesses to cut production and lay off workers to survive, which in turn shrinks the market further, creating a vicious cycle.
The solutions are straightforward: either find a new market to shift the crisis or wait for natural market recovery.
In the current situation, it’s clear that all of Europe has been affected by Austria’s crisis, leaving no place to shift the burden. Recovery will have to rely on the market’s self-regulation.
After the process of natural selection, outdated capacity will be eliminated, leaving only those companies with strong managent or advanced technology. Each economic recovery is also a period of technological boom.
Unlike previous crises, this ti, the Austrian governnt hasn’t increased investnt in public infrastructure or created new jobs after the economic downturn. Instead, it has allowed the market to regulate itself freely.
Franz asked, “How is the immigration effort progressing?”
A crisis isn’t frightening, the real threat lies in the unemploynt it creates. In these tis, the working class has very limited resilience. A few months without work might be manageable, but a year or more without inco could lead to serious problems.
Getting through the crisis is simple enough: encourage migration. The colonies are under developnt and urgently need a large workforce.
Under normal circumstances, only the restless or fortune-seekers are willing to leave ho for the colonies. Simply put, the golden period for making a fortune in the colonies has passed. As developnt continues, living conditions improve, but opportunities for quick wealth are dwindling.
Early immigrants who were willing to work hard and managed to survive usually succeeded. Now, while opportunities are still sowhat better than at ho, they aren’t as abundant as before.
To achieve success now requires not only courage and hard work but also a sharp mind and a bit of luck.
With diminished allure, enthusiasm for immigration has also dropped. Even though Austria had begun a colonial integration policy, the colonies’ infrastructure was still far behind what was available at ho, especially in transportation, healthcare, and education.
The transportation issues stem from the short developnt period, while the healthcare and education challenges are due to a lack of skilled personnel.
It’s not that Austria has a shortage of doctors and teachers. Rather, those professionals already have a comfortable life at ho and lack the motivation to venture into the colonies.
To address these issues, the Austrian governnt has established schools on the African continent to train doctors and teachers locally.
This solution, however, won’t show imdiate results. It requires ti to yield a substantial workforce. Training doctors, in particular, is a lengthy process. Under Austria’s current education system, dical programs take no less than seven years, with at least a decade needed to produce a qualified doctor.
This isn’t due to Franz setting high standards, it’s a necessity of the tis. In an era lacking advanced dical equipnt, doctors rely heavily on personal skills, making quick training impossible.
Colonial Minister Stephen reported, “As of now, the number of people registered for immigration has surpassed 1.2 million, and we’ve already relocated 680,000. Registrations continue to increase, and given the current economic situation, the total number of immigrants might exceed three million.”
This is typical of an economic crisis. Early on, people can rely on savings, but as ti goes on, life becos increasingly difficult.
In such a climate, registering for immigration becos a logical choice. If it were up to pure voluntary interest, there likely wouldn’t be many willing to leave Austria for the colonies.
The Austrian governnt has worked tirelessly to promote immigration. Many colonial companies offered two options for recruits: direct immigration or going to Africa for work.
Most people choose the second option. Even though the Austrian governnt offers relocation subsidies for direct immigrants, it doesn’t sway many.
Many still harbor dreams of working in Africa for a few years, saving enough money, and then returning ho to buy property. However, the reality is that most end up staying in Africa after a few years.
There’s little choice—inco is the main factor. With a shortage of labor in Africa, wages for ordinary workers are naturally higher than at ho.
Once accustod to high wages, going back to lower pay—and thus a lower standard of living—is hard to accept for most.
To attract more people, the colonial governnt even encourages immigrants to bring their families. Africa is no longer a wilderness. For convenience, many even relocate their entire households.
Franz nodded, “Keep pushing on with immigration efforts. Now is the best opportunity. Once the economic crisis ends, it won’t be easy to get this many immigrants again.
What’s the situation abroad? How far has the Paris Conference progressed, and is there any chance of an agreent in the short term?”
“Yes, Your Majesty! The Colonial Ministry has plans to absorb as many immigrants as possible during the economic crisis,” Stephen replied.
Foreign Minister Wessenberg replied, “Your Majesty, all European countries are deeply mired in economic troubles, and tis are difficult for everyone.
However, overall, the situation has been stabilized. The French suppressed the Italian uprising, and Napoleon IV placed Paris under direct military rule. Although the opposition has intentions of stirring up unrest, they lack the power to act.
It’s worth noting that relations between Prussia and the German Federal Empire have deteriorated sharply, largely due to the outbreak of the Rhineland uprising, which has broken the last fragile link between the two.
According to agreents, the Rhineland was nearing the official transfer period at the ti of the uprising. The German Federal Empire wanted to complete the transfer early, but the Prussian governnt refused.
To gain more immigrants, the Prussians dispatched troops to suppress the uprising, forcibly relocating a large number of people.
From the intelligence we’ve gathered, the Prussian governnt has essentially drained the Rhineland of its most valuable resources, capturing engineers, scientists, doctors, teachers, and other skilled professionals in one sweep.
Due to intervention from various European countries, the Prussian governnt has only just begun the transfer to the German Federal Empire, though the process is very slow.
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Our preliminary estimate is that the Prussian governnt might drag this process out until after the new year. anwhile, they’re using the remaining ti to ‘extract’ people, so that when the German Federal Empire finally takes over, they may be left without even technical workers.
The economic crisis is also hampering the Paris Conference. Most governnts are distracted, and so even have delusional ideas about using their colonies to escape the crisis.
Regarding colonial competition, no one is willing to compromise, and the British are making matters worse by stirring the pot, hoping to benefit from the chaos. This only dims the prospects of the Paris Conference further.”
Franz nodded. The Kingdom of Prussia relocating over a million people from the Rhineland was surely a major blow to the German Federal Empire.
Prussia’s “resource extraction” was undercutting the German Federal Empire. The Rhineland’s true value lies not in its mineral resources but in its highly skilled population. It’s remarkable the two sides haven’t already co to blows.
As for the British sowing discord among nations, that’s a familiar pattern, a classic maneuver. If they weren’t doing it, Franz would find it suspicious.
Although the Paris Conference was officially convened to diate international conflicts and reduce tensions, from Britain’s perspective, its true goal was to lessen conflicts involving Britain itself.
Do they care if other colonial empires clash? Not at all. Stirring up trouble among nations is second nature for John Bull. If all European countries had no more conflicts and enjoyed peaceful, neighborly relations, could the British governnt even sleep at night?
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