Wall Street of the third generation chaebol

＜ Start cleaning. (1) >

“Sir, the New York Stock Exchange has plummeted. As steel stocks plummet for the time being, the overall decline of the New York Stock Exchange is expected.”

New York.

US Steel (USS) Restructuring Headquarters.

Veyron brought a copy of the Wall Street Journal. As the falling steel stocks pierced the bottom and reached the mantle, the Dow was horribly broken.

“The crash is also a temporary problem. If steel plays the chicken game, steel companies will be in a state of emergency, but other companies will be sold out. They will spread their wings and take off again.”

“Yes, it will be quiet next week. By the time the low-price competition takes effect, I expect the New York Stock Exchange to skyrocket.”

In fact, Wall Street’s misjudgment is also natural.

This is unpredictable.

US Steel declared that it would kill all but three of the world’s steel companies, and such a chicken game was almost unprecedented.

“The change in the tone of the European continent after the Great Recession must have had the biggest impact.”

But there is no precedent.

Investors on Wall Street aren’t stupid either.

– When steel is cheap, the industry develops.

they all knew

The problem was the aftermath of the butterfly effect, which would be the biggest chicken game in steel history.

“Europe has been in the opposite direction of trade since the 1870s.”

“You’re talking about the Great Recession.”

Great Depression.

In fact, this was the biggest depression in continental Europe before the Great Depression. At this time, the European continent was almost completely gone.

The monetary system has returned to openness.

Industries began to collapse one after another, and they began to perish in piles.

“Yeah, with the exception of Britain, the free traders have a lot of voices dead.”

mid 19th century.

repeal of the grain law.

With the abolition of tariffs on food, the era of free trade has arrived. In the UK economy, ‘If each country manufactures only relatively low-cost products and conducts free trade, the greatest benefit will be returned to all.’ The theory of comparative advantage began to emerge.

“Vyron, do you know why Britain enacted grain laws? Actually, this is the most important part for us.”

There is no precedent.

This novel was posted at https://readwn.com

Of course, there is no precedent for starting a chicken game on a large scale like ours. But then, isn’t there a precedent for an entire industry’s price plummeting?

That wasn’t it.

“I understand that it was enacted because of the collapse in the price of grain after the Napoleonic Wars ended.”

“That’s right. It was to protect the assets of the landlord class, who occupied most of the parliament.”

Same as this steel.

Grain prices have plummeted on a massive scale.

To protect their interests, the British Parliament enacted a grain law and locked the door to grain imports.

“But it was then that the British realized that they were out of date.”

Protection trade had fatal flaws.

Especially for industrialists.

“European countries have locked their doors with tariffs, so the market to sell has disappeared.”

This is where the comparative advantage theory comes in.

“With the industrial revolution developing and technological advancement, there is no market to sell. Besides, Britain was confident in their technology.”

mid 19th century.

In Europe, Britain was the flagship of the Industrial Revolution.

It enjoyed the heyday of the Victorian era and reaped the benefits of the industrialization of the Industrial Revolution.

But there is no market to sell.

“I was confident that I would kill all the industries of other countries and eat the market.”

So, he repealed the grain law and opened the door to tariffs with France.

“This is the time of the famous Opium Wars.”

“Ah! You opened up the Chinese market with the Opium War. To swallow the Qing Empire’s market with British products.”

“right.”

This novel was posted at https://readwn.com

Open the market of underdeveloped countries.

They dig a hole and destroy the market with their newspapers. It sucks up the profits and rises to the British Empire.

An empire where the sun never sets.

Its foundation was free trade.

I got up from my chair.

“It is the beginning of full-scale imperialism and the British Empire.”

invisible hand.

laissez-faire.

Based on Adam Smith’s economics, continental Europe opened wide the door to trade and completely broke down barriers.

This novel was posted at https://readwn.com

Of course there are exceptions.

“Only two places. The US and Germany have raised the wall with tariffs. Isn’t it surprising? That capitalist US abandoned free trade and raised the tariff wall.”

This free trade was the beginning of the Civil War.

There was something else that was really ironic.

“The Civil War. At this time, which forces wanted free trade?”

“If you think of it as a normal image, it would be the North Korean Army, right?”

The economy is so fun.

“It was a Confederate army.”

The Union Army called for protection, while the Confederate Army called for free trade. Since they had to sell cotton in large quantities, the Confederates wanted free trade.

However, the Union Army, suffering from backward industrialization, desperately rushed and won the victory.

“The Union Army erected a tariff wall as soon as it was victorious. In the 20th century, American industry still has a tariff wall. It is a high wall.”

Tariffs still exist.

Tariffs from the US and Germany are currently the highest.

“The German Empire in Bismarck followed the American model. They also raised the tariff wall for their own industrialization.”

upside down.

Protection and free trade are intricately intertwined.

But right now.

Free trade between Britain and France.

Vs.

Protectionism between Germany and the United States.

It is just divided like this.

The problem here is that Germany and the United States, which have done protection trade, are the winners in the end.

Protection trade will soon win.

And with the roar of the steel monster, a half victory was already predicted.

The world will return to protectionism.

But I will break that misjudgment with free trade.

‘The United States and Germany have already exhausted the honey of protectionism. So now it’s time to sell honey through free trade.’

kick the ladder

I completely open the door for them to return to protectionism.

The steel monopoly is thus completed.

“I’ll be back for fun.”

I smiled bitterly.

“If their imperial gardens, which were calling for free trade, start to be devastated.”

Subordination of steel.

Are you advocating free trade? Is it subordination of steel?

“Those guys, I bet all my fortune to beat them all up and raise the tariff wall.”

It would be different if it were other items.

However, it is steel.

industrial rice.

Steel has melted into most industries since the Industrial Revolution.

“If the sovereignty of steel is taken away, economic enslavement will occur, but will it be tolerated? In this age of imperialism?

There is already precedent. There is also a record of the original history of locking up tariffs due to the Great Recession.

‘The early 20th century was the era of protectionism.’

clunky.

I relaxed.

“Maybe I didn’t expect that much.”

However.

In the end, customs will strangle them.

i will make that

No, even if I didn’t do that, the flow of the times was already rushing towards free trade.

There’s a famous saying on Wall Street.

– There is no free lunch.

The British Empire that sucked only honey through free trade.

This time, it was time to liquidate the karma they had built up with that free trade.

“The war has already begun. A war without gunpowder.”

The future world hegemony depended on this war.

“But before that…”

I was colored.

The light faded in his eyes.

“I’ll start with the rats who will sabotage my plans.”

before the customs war.

First of all, it’s time to clean.

***

“A kiosk?”

Department of Commerce.

When the chicken game of the steel industry was declared, the busiest department was the Ministry of Commerce. This is because US Steel’s chicken game plans to destroy the US steel industry first before it spreads to Europe.

“Yes, steel is not a commodity that is listed or traded on commodity exchanges, but it is said that trading companies are starting to swallow up the demand for steel cheaply.”

“Oh, I know what it is.”

this is it

Who has benefited the most from lining up the first suppliers and final sellers?

The answer is distributor.

“They say that shipping companies that distribute are rushing to buy and sell steel. You leeches like leeches.”

After all, steel must also be exported through shipping.

If so, shipping companies should only export steel through them.

“I plan to sell it at a high price while accumulating it in the warehouse and controlling the quantity.”

Minister Cortellho thought.

As the world is getting better, suicide methods have become more diverse. I was anxious from all sides to hang my head by special means.

“Can the shipping companies eat everything in the first place?”

“If you look at the market share of the current shipping president, it is not necessarily impossible.”

U.S. export shipping companies’ market share.

20% of Philippine companies.

IMM (JP Morgan) 20%.

Remainder. 60%.

“Is Morgan’s shipping company a little behind?”

“Perhaps you haven’t gone crazy because you’ve been eating other industries other than shipping like pigs.”

“Well, after all, the Philippine company is a monopolistic shipping company in Southeast Asia. It’s natural because it’s not a US monopoly shipping company.”

American shipping company.

Morgan’s eyes hadn’t lifted in the meantime, so these guys were down on their luck.

“No. That’s bad.”

I was blind because I couldn’t taste the spicy yet.

He was throwing his whole body towards the burning fire like a moth.

“What about the orders of the Bekakkan?”

“The White House is asking the Bureau of Business Administration to dispatch investigators for unfair trade practices.”

“…???”

The Minister of Commerce furrowed his eyebrows.

“What kind of bullshit is that? Isn’t unfairness the monopoly of that Detroit Morgan US Steel?”

“The… Minister, didn’t you watch the White House briefing until the end?”

“… Huh? Uh.”

Cortellhou scratched the back of his head in embarrassment.

I had a lot of work to do, so I read only the important parts.

‘No, I told you that in the first place, isn’t it this child’s job?’

Cortel’s eyes sharpened.

The Director of Business Administration sighed and briefed.

“The White House said. US Steel’s low-cost competition is an act that increases the utility of consumers.”

“ah.”

Minister Cortellho understood it right away with the first sentence.

The head of the corporate office continued.

“If the price of steel goes up after US Steel monopolized it, we should consider applying the anti-monopoly law, but we decided that low-price competition itself is not an act of disrupting the market, but an act for consumer utility.”

“You’re right.”

In simple terms, it is said that everyone benefits when they sell at a low price.

If it’s hard to say…

Cortellhos came up with the theory of comparative advantage.

This is the theory of free trade theorists.

For consumers to maximize utility, the supply price must be as low as possible. A supplier who can supply it at a low price should supply it.

In the era of eugenics, the theory is also a survival of the fittest.

This novel was posted at https://readwn.com

Of course, that is a very, very rough explanation.

“The comparative advantage theory is understandable. Isn’t it one of the mainstream theories of European free trade theorists?”

It seemed a little different, but if the White House was the case, that’s it. The context is not very different. As sub-divisions of the executive branch, they simply follow.

“then….”

Cortellho’s eyes lit up.

“The shipping companies that try to sell them expensive are ‘evil’.”

The shipping companies that are trying to collude now are not simply a group that harms profits.

It is an act that spurs the Industrial Revolution and robs humanity of the opportunity to make great progress.

It harms not only the United States, but the interests of mankind as a whole.

It is the evil of mankind.

enterprise country.

Antitrust Surveillance Department of the Department of Commerce.

The White House has asked you to take out the mace, so they can wield it.

“In this case…yes. It’s a cartel.”

The crime was collusion.

“Contact the Ministry of Finance and Customs and ask for assistance, and contact the Ministry of Justice to prepare an antitrust case indictment. Since the Attorney General also serves as the Prosecutor General, the prosecution will be easy. Besides, he’s a former federal judge.”

William Howard Taft.

He was the current Minister of Justice.

Minister Cortellho smashed the files.

The head of the corporate bureau in a black suit opened his eyes fiercely.

“Start cleaning.”

***

“Is this okay?”

Washington DC White House.

Detroit Morgan.

U.S. Steel’s direct presidential hotline to the New York Restructuring Headquarters.

Theodore Roosevelt was buried in a chair, holding a phone.

tuk. tuk.

In his other hand was an approval file from the Ministry of Commerce. In addition, there were payment documents from the Ministry of Commerce, the Ministry of Finance, and the Ministry of Justice on the desk.

Countermeasures against antitrust actions by shipping companies.

The topic was this.

– Yes, I’m satisfied with this. I have to tell the US Steel security team to join the undercover agents of the Department of Commerce.

“Probably, investigators from the federal prosecutor’s office will also be dispatched. Isn’t the anti-monopoly law a law of a state governed by the rule of law?

– May I take the baton of the Federal Prosecutor’s Office and the Department of Commerce?

Come on now, what do you say?

Roosevelt waved his hands.

“Okay. Okay. It’s the easiest thing I’ve ever done… Wait.”

Roosevelt was as hard as a stone.

“I wonder if your ‘guardian team’ is…”

– Yes, that’s right.

A small laugh could be heard over the phone.

– They are elite members of the National Detective Agency of Pinkerton.

“…Damn it. Again.”

– But rest assured. Would you even use a machine gun to prank the trading companies?

“Well, yes, but…”

There’s probably a federal prosecutor mixed in there, and they grind their guns? The National Guard is dispatched immediately.

Those who shoot will be reduced to chunks of meat in the name of self-defense or will taste the mace of the judiciary.

“It’s already gorgeous. The Germany you’re aiming for hasn’t even started yet.”

– You have to eradicate the rats and start.

“That’s also true. Next time, let’s start by giving a little advice in advance. Throwing a bomb like this suddenly isn’t good for your heart. Do you want your friend’s grandmother to go away soon?”

– Abby…? No, what kind of bullshit is this? I know you’re middle-aged. By the way, how is Frank doing?

“Ttt. I’m in the middle of attending college. You probably got a call from that college as well.”

– I’m glad you’re doing well. Apparently, I’m not an aptitude for school.

“I see. You must be busy, so come in.”

– Yes.

Click-

The phone is disconnected.

Roosevelt returned the receiver.

“Hmm…..”

collusion of shipping companies.

Roosevelt looked at the phone with calm eyes. He whispered softly over the hung phone.

“Detroit, you are growing without end. I appreciate your ability, but if your actions end up harming the national interest of the United States…”

Roosevelt’s eyes lit up.

“I’m ready to tear you apart at any time.”

still watching

Detroit Morgan is great but at the same time dangerous.

Roosevelt was well aware of it.

However, the important thing is that he is ‘yet’ the talent America needs. But Roosevelt doesn’t trust him.

gradually. gradually.

Maces were being prepared one by one for anti-monopoly.

“Please don’t fall.”

Roosevelt had already made up his mind.

If Detroit Morgan crossed the line, he was prepared to crash Detroit at the expense of the rest of his political career and presidency.

“please.”

I’ll lend you whatever public power you need.

The White House and the federal government are on four sides.

Theodore Roosevelt was President of the United States of America.

***

“Eat the shipping companies.”

“Yes?”

suddenly?

Veyron looked at me with a serious face.

“Aren’t you playing chicken games with steel? Can you afford to take over shipping companies?”

“You know one, you two don’t.”

I lifted my index finger.

“The Steel Chicken Game is not a game that ends with simply selling iron cheaply and killing them all.”

industrial rice.

The chicken game of steel was the strongest butterfly that would overthrow the world economy itself.

“The chain effect will explode.”

“Is it a chain reaction?”

“Yeah, it’s issues like collusion of shipping companies we’re going to fight now.”

“But why are shipping companies taking over?”

I stopped walking.

And looked at Veyron.

“What will happen to the shipping industry if steel is released in large quantities at low prices. Have you ever thought about it?”

“…Gee. Steel is heavy and bulky. It will probably increase the volume of cargo significantly.”

“It’s not just that. The trade volume of everything from steel to finished products will rise significantly. Protection trade will collapse anyway. It opens up the era of free trade.”

“If that happens, shipping companies will enter a golden age.”

“okay.”

The heyday of shipping companies.

Money spent like water in steel. Conversely, it can be filled with shipping in the golden age.

It’s like action and reaction.

When one goes down, the other goes up.

Seeking profit as much as possible.

“furthermore….”

If you take over, you can even save on shipping costs.

“It could be vertical integration.”

smirked

“The steel industry isn’t just about steel. We’ll start with shipping, but we swallow everything from mines to final sales.”

“…!!!”

Veyron widened his eyes.

“If it’s the final sale… to what extent…”

“Well.”

I shrugged.

“As far as I can.”

Whoa hey-!

A strong sea breeze scratched my face.

New York port.

We were in a huge warehouse facility on the pier in Upper New York.

“First, let’s start with the shipping companies.”

That way, we can provide a hand delivery service to Europe.

“Oh. They should also rob the steel warehouse. They must have stockpiled steel for several years. Are you going to file a claim for damages?”

“…???”

This novel was posted at https://readwn.com

On my last line.

Prosecutors and Commerce Department investigators looked around with bewildered faces.

why what

Anyway, it’s okay.

what do i take

I was proud

＜ Start cleaning. (1) > end