Wall Street of the third generation chaebol

＜ The precarious Balkan powder store. (1) >

“You can seriously think about it.”

After negotiations at the Berlin Palace, Finance Minister Max saw me off. Max, who had remained neutral in the negotiations with Wilhelm Kaiser, approached me favorably when he left the audience.

“Are you seriously thinking about it?”

“German Steel Alliance in Detroit. Those German Imperial soldiers are so amazing. They don’t know how much they can develop the German steel industry. The Ottoman plenipotentiary has some duties, but we will take good care of it in our Treasury.”

“From the Treasury… you mean.”

I frowned.

The goodwill of Treasury Secretary Marks is questionable. German treasury bureaucrats usually had the image of tying up their belts and saving money. Treasury Secretary Max is no different.

Roughly speaking, I could see that I had judged it to be an advantage.

But why?

For me this reason is important.

“Why are you so sympathetic?”

“As you said, you are quite straightforward. Rather good. There is no reason for me to favor it. Detroit-sama is needed for the national interest of the German Empire.”

“National interest?”

“The German cabinet and the Berlin Palace are people who have been pickled in protection trade. Of course, I’m not much different, but I’m a person who thinks it’s okay to switch to free trade soon.”

“Hmm.”

it’s free trade

There are people like Treasury Secretary Max. Indeed, free trade and protectionism are not dichotomy.

Spectrum.

Can you tell me which one is closer? It is impossible to say which one to give up.

“Abolition of steel tariffs. Do you know why our German Ministry of Finance allowed this?”

steel tariffs.

This is easy. Literally, it meant that there would be no tariffs on steel imports, meaning that the German Empire would focus on metal processing from steel imports.

From the beginning, the German Empire was a technological powerhouse that developed through science and technology.

Steel is nothing more than a material to them from the beginning.

But it’s not the only one.

‘The investment business right of the German Investment Corporation is still under the jurisdiction of the Berlin Palace.’

The German Empire is not my field.

I am a foreigner

In other words, the German Empire is ready to throw me out at any time.

Even if the Berlin Palace does not have to move the German Imperial Army, if it deprives the German Investment Corporation of its investment business rights,

I become a duck egg from the Nakdong River.

As long as our interests are not fiercely opposed, the Berlin Palace still tolerates it.

“…you’re doing a good job. Isn’t it something to think about along with the second condition?”

second condition.

If the first was the abolition of the steel tariff, the second condition was also radical.

“The intention of the German Empire to sell Krupp’s steel business to me is too explicit.”

The German Empire abandoned the iron industry.

Instead, it is turning towards the metalworking industry. Turn Krupp into manufacturing and focus the entire German industry on manufacturing.

Not a bad decision.

Treasury Secretary Max smiled.

“The company that effectively controls the German Steel Alliance is the German Settlement Bank. But this bank is controlled by the German Investment Corporation. But.”

Treasury Secretary Max paused.

“However, the German Investment Corporation’s stake is still a little short of 30%. But they continue to take over German banks and steel companies.”

“You must be aware of the fact that the steel industry and the financial industry must be linked to create synergy.”

“Haha, no complaints.”

no complaints

The German Reich’s treasury had nothing to do with it as it is now. Rather, they will actively defend this system.

because.

This is because the core of the German steel industry lies in ‘technology’. The steel industry is good, but metal processing and manufacturing are the fundamentals of German industry.

The steel industry is a necessary material for manufacturing, and the German Empire is frantically extracting it.

The Ministry of Finance was reading the current situation correctly.

“I mean.”

Treasury Secretary Marks waved his fingers.

“No matter how much you think about it, I don’t think Detroit-sama will stop the low-cost competition.”

“Why?”

Don’t stop competing at low prices.

It means that even if there are three monopoly companies left, the race of death will continue to the end.

will continue to push the low price.

Treasury Secretary Marks predicted.

“Of course, I don’t think the price is as crazy as it is now, but I think it will continue to press to the break-even point.”

“That’s an interesting remark. Secretary of the Treasury.”

“It’s fun…”

Treasury Secretary Max thought.

This man named Detroit Morgan.

He’s a very scary person.

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Of course, the scary thing is that if you’re next to me, you’ll just kill me, and it’s not that kind of fear.

‘Extreme carrots and sticks.’

The fear that if you hostile this person, you will face mortal doom. At the same time, the fear that if you enter this person’s arms, you will be able to enjoy a comfortable life.

The two fears are mixed heterogeneously, stimulating a strange sense.

“It seems to me that Detroit… wants to monopolize the steel industry itself.”

the steel industry itself.

Detroit’s move to swallow up the international steel industry is blatant.

“Britain and France are currently raising tariffs. The new British Prime Minister, Belfour, passed tariffs in Parliament as soon as he became prime minister. France put pressure on the French Central Bank.”

“The French Central Bank is famous.”

“Yes, in effect 100% of French fiscal policy comes from the French Central Bank.”

In the end, both countries built up tariff barriers.

In the current international steel market, exports of steel to British and French territories were restricted.

“However, I am confident that this tariff will widen the technological gap between Germany and Yeongf.”

Manufacturing is driven by the price of raw materials.

When the price of steel falls, the manufacturing industry based on steel soars high in the sky.

The German Empire is a steel manufacturing industry specializing in manufacturing.

It is a science and technology powerhouse based on chemistry.

If we could import cheap steel from the US and bridge the technological gap with Britain and France.

It is a German victory.

“I think.”

“It’s not wrong.”

“Yeah, Detroit-sama must have thought the same, because the more the steel-based manufacturing industry develops, the deeper the steel industry will take root.”

It takes root throughout German industry.

Treasury Secretary Marks is right. That’s exactly what I’m aiming for.

But there were a few things he didn’t know.

“Treasury Secretary Max is honest.”

“Shouldn’t I be honest with my partner in the German Empire?”

“Good.”

But I’m not honest.

Information asymmetry was my greatest weapon.

***

‘I want redemption.’

The strategy itself that I am trying to root in Germany is right in the words of Finance Minister Max.

But the ‘method’ is different.

The restraint I want is not restraint in that sense.

‘When the German Empire attacks me, you will stab yourself in the neck.’

stab me with a knife

But if you check it after stabbing, it’s such a restraint that your own neck is pierced.

In fact, it was his own neck that stabbed him.

‘This is the strategy that China used.’

China has borrowed the tactic that has crippled the US with reform and opening up.

Because Deng Xiaoping’s method was vicious in many ways.

‘German manufacturing can never stop losing low-cost steel. As long as we keep low-cost steel, they won’t be able to abandon us.’

With the global steel monopoly, the price is cut to the break-even point. Then the world will enter the era of unprecedented low-cost steel.

Extremely low-cost steel.

No one can create a surplus like us and keep the price low.

The low-price policy promotes German manufacturing.

However, the moment German manufacturing companies stop losing our steel, other manufacturing forces using our steel will tear the German manufacturing industry apart.

China imprisoned the United States in this way.

The Chinese market, which can extract extreme economies of scale and low manufacturing cost, is attractive.

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On the downside, however, China was not a monopoly.

Exodus arose when China carried out war diplomacy (easily intimidating diplomacy).

But my steel is impossible with Exodus like China. The global steel supply chain will be under the US Steel and German Steel Alliance.

The moment they are expelled, the power is crushed.

However, I do not wield the mace due to monopoly. I don’t need blood on my hands.

Just creating an environment.

Even if I don’t pick up the mace.

Manufacturers who have given up on their own low-cost steel will be torn apart by the survival of the fittest by other manufacturers.

I reign, but I do not rule.

Addiction makes it impossible for anyone to give up cheap steel.

Conduct ethical business without tyranny.

‘And stay neutral.’

There were heretical newspapers out there who would swing the mace for me.

‘Three thrones of steel.’

Two of them were filled.

US Steel (USS).

German Steel Alliance (VST).

More than devouring Krupp’s steelmaking division.

The German Settlement Bank will hold Thyssen Steel and Krupp Steel at the same time.

The German Steel Alliance (VST), which unified the German steel industry, was completed.

It is only a matter of time before we monopolize the German steel industry.

USS unifies American Steel.

VST unifies German steel.

USS and VST now go hand in hand.

American Steel and German Steel join hands.

No, I already got it.

‘The break-even point is even lower.’

Dumping is possible at a lower price.

Economies of scale are starting to go crazy. As long as the German Empire is on our side, the tariff barriers between Britain and France are just a matter of time.

“Ah, Detroit-sama. May I ask you a question?”

Treasury Secretary Max raised his index finger.

“Please speak.”

“I heard that the low-cost competition for steel will continue until three companies remain, but where is the remaining one?”

Three powers in the steel industry.

The Maginot Line announced by US Steel to the world. He declared that he would leave only three steel companies in the world.

There is only one seat left.

But I did not say that this seat must be filled.

this is bait

“I do not know.”

It devoured the steel industry in the United States, Germany, and East Asia. There are few strong players in the remaining steel industry.

UK, France and Russia.

These are the three steel industries.

“I’m doing better than I thought.”

Russian sanctions network.

The chicken game of oil and coal was a disaster that started a few years ago.

Already, only dinosaurs have survived the extreme low-cost competition in the global oil and coal supply chain.

It was still going on.

Coal is the energy source for running the steel mill.

As coal became cheaper, it was becoming possible to supply steel at low cost to steel mills.

“Well, it’s just a matter of time.”

“What do you mean?”

However, the conditions are the same for US Steel and VST. Relatively no difference.

It only lasted a little longer.

“Treasurer Marks, let’s think about it.”

“Yes.”

“If Secretary Max was British, what would you do in an emergency?”

“Yes?”

I laughed softly.

“Will you fight against the steel monsters of Germany and America, and then oxidize fiercely? Or will you swallow up the French and Russian steels and seize the remaining seat of power?”

Now that 1903 is coming to an end.

German steel production was far ahead of British production. The influence of my intervention turned the German steel industry into a monster that spews steel like crazy.

The United States… is too much.

Pennsylvania’s steel production was already catching up with European production.

During World War II, a single steel mill devoured all German steel production.

The United States still has room for growth.

Would France and England go crazy and head on these monsters?

There is also a limit to locking up with tariffs and turning steel for domestic use. When you fall behind in the global steel market, how are you going to catch up?

I don’t even think about it that much.

‘Except Russia. These guys are an agricultural country, so let’s put that aside for now.’

Treasury Secretary Max rubbed his chin.

“The British and French steelmakers may join hands.”

I shrugged.

“British steel has strong growth potential because its steelworks are outdated. French steel is too difficult to keep up with technology and lacks the competitive edge. How about in the form of a cooperative?”

In fact, it is the only way for Youngp’s steel industry to survive.

“Then they will unite themselves.”

“Yes.”

They are shields.

A shield that will justify the emergence of monopoly steel.

You also made it a monopoly, so don’t say anything about our monopoly. Britain and France also have monopoly steel, so the monopoly of the US and Germany cannot be called anything.

There is no reason to criticize us.

If it leads to war, the neutral forces (USA) have a wider range of options.

“It will become a zombie company.”

Even if British and French steelmakers unite, they cannot survive. If so, they will devour the nation’s national wealth and survive like zombies.

A business that cannot go back without tax.

Conversely, a tax-eating monster is born.

“…The power of Britain and France will weaken.”

“That’s a side effect.”

If the steel industry eats taxes, the country will not collapse. The government of the Republic of Korea does not go bankrupt if it pours taxes on large, bankrupt shipyards.

However, England and France will lose their dominance in the steel industry and will be dragged around by my huge steel monopoly.

It doesn’t necessarily have to come together.

Even if they are destroyed as they are, it’s not bad at all.

‘But, if they are grouped into one zombie company, I feel comfortable.’

I don’t want to hear from Treasury Secretary Max.

muttered inwardly.

After the war is over…

You can swallow the British-French steel union in one bite.

‘New Nippon Steel, US Steel, VST.’

I have already controlled 70% of the global steel market. As long as we keep deathmatch beyond the chicken game, the remaining 30% will be reduced to zombie companies.

This is how the steel monopoly would be completed.

I monopolize the steel industry and take control of the steel manufacturing industry.

***

Washington DC

United States Department of State.

“Minister, it is said that a phone call was made to US Steel from the embassy of the Ottoman Empire. After checking, it was a content that could not supply exclusive steel to Baghdadban of the Ottoman Empire.”

Minister’s Office.

Secretary of State John Hay reclined in a leather chair.

“If it’s Baghdad, it wasn’t a railway contract with the Ottoman Empire on the condition that the German Empire leased it for 114 years?

“Krupp tried to supply exclusive steel, but it was said to be eight times the market price.”

“Crazy bastards.”

Secretary John Hay put out his cigar.

The Ottoman Empire is not a hogu. We are still weighing the scales between the Anglo-French negotiations and the Triple Alliance, but the German Empire has spit it out.

“Sorry to US Steel, but that’s not going to happen. No, you don’t have to be sorry.”

“Yes, as long as the Detroit Fed Chairman has completed the German Steel Alliance (VST), he will sign a new contract at VST instead of Krupp. He will not sit still at the Berlin Palace.”

“VST devoured Krupp’s ironworks, so I’m done.”

“But it’s a good sign for US Steel. Except for the railroad business, we have a hotline to cooperate with the Ottoman Empire.”

“Yeah, even if it’s not in Baghdad, it could infiltrate other Ottoman steel businesses or even the private industry of the Ottoman Empire. That’s a good sign.”

American steel companies

As long as they contacted the Ottoman embassy directly, they opened a business route to the Ottoman Empire. That’s a good sign.

State Department.

This was a battle of spearheads infested with international diplomats, and it was a kind of spy agency where information from all over the world was concentrated.

Currently, the official intelligence department is not complete.

There are two major spy organizations in the United States.

State Department and Military Department (including Navy Department).

Typically, there was information collected by diplomats and information collected by soldiers.

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Oh, and the recently established Ministry of Commerce also collects information about companies.

There are other small intelligence organizations, but broadly, they are the two axes of the State Department and the military.

The US State Department was now fully focused on the German Empire.

Specifically, the steel industry.

They were also collecting information on the European steel industry.

👌👌👌

A map of present-day Europe unfolded.

At the same time, the Secretary of State’s face, noticing something, wrinkled.

“…..for a moment.”

The Secretary of State’s expression became serious.

He stared intently at the map of Europe.

“This is… dangerous. Very dangerous.”

“Is it dangerous?”

The deputy secretary of state tilted his head.

Secretary of State John Hay chuckled.

“You don’t have any thoughts about this game? Who’s the deputy secretary of state?”

“…why are you doing this all of a sudden? Did something big happen?”

“Twitch.”

‘The deputy minister…’

Secretary of State John Hay thought of Detroit.

Perhaps that devilish bastard had predicted this game ahead of time.

Detroit’s madness is unpredictable, although it is in the national interest of the United States.

until just before getting hit.

“American Steel and German Steel were unified under Detroit’s hands. Do you understand this?”

“Yes.”

“With the elimination of the steel tariff, American steel can be freely transported to Germany and the Ottoman Empire. Do you understand this?”

“Yes.”

“First of all, steel is cheap.”

“It will be cheaper.”

Deputy Minister’s answer.

The secretary of state looked at the vice minister with a bizarre face.

“You still don’t understand?”

“….Yes?”

“Hey, you… you bastard, this really can’t be done.”

The Secretary of State took a deep breath.

“Huh, steel is cheap. Then what is cheap?”

“If steel gets cheaper… cars, piers, infrastructure, spoons, forks, spoons, candlesticks, etc. will be cheaper, right?”

“In addition.”

“Ah, buildings like the Eiffel Tower will become cheaper.”

“…..In addition.”

The secretary of state glared at the vice minister.

“In addition.”

“All that comes to mind right now is…ah.”

iron hull.

The deputy minister was shocked as if struck by lightning at the sound of metal heard from his pocket.

I opened my eyes.

Why didn’t I think of this?

It’s something that every State Department official knows.

His lips trembled. He slowly opened his trembling lips.

“weapon…..”

Weapons are cheap

“okay.”

The Secretary of State nodded slowly.

“And now look at the map.”

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Opened a map of Europe.

Fragments of large empires were filling the continent of Europe.

“Germany and Ottoman Empire. What’s in between?”

“……!”

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Only then

The Vice Minister could understand the Secretary of State’s ‘dangerous’ remarks. At the same time, Detroit’s human beings are planning how dangerous fireworks are now.

he could understand

“Balkan…”

European gunpowder.

The Balkans were located.

＜ Dangerous Balkan gunpowder. (1) > end