Chapter 901 Coping with the Economic Crisis
It is normal for the economic crisis to spread from North America to Japan. Japan as a whole relies on the US market to survive.
Alan Wilson remembers that the economic crisis of 1957 did not have a serious impact on Japan. Although Japan was quite uncomfortable for a period of time, the three Axis powers in World War II were not affected for a long time.
After the defeat of the war, the three Axis powers all adopted methods to lower their currency values to promote exports. Italy was still quite ambiguous with the Soviet Union, and each had its own way of dealing with the crisis. Among them, the Federal Republic of Germany only had stagflation for three months before everything returned to normal.
This time the economic crisis is really unlucky for the United Kingdom and the United States, especially the United States. Britain's losses are second only to those of the United States, but Britain's blow must take into account the historical Suez Canal War, and the Suez Canal War has not yet occurred.
The Japanese economy, which is almost tied to the United States, will naturally be affected first. Almost at the same time, when the United States and Canada were in deep economic crisis, Japan, across the Pacific Ocean, entered an economic crisis at the same time.
The chemical industry, machinery industry, and papermaking industry fell by 9% to 13% respectively, and the steel, leather and non-ferrous metal industries fell by 20% to 23%.
The economic crisis struck like a hurricane, bringing the whole of Japan into turmoil. And this is far from the end.
"I remember this crisis, it seemed like it was the first time the United States had a trade deficit after the war." Alan Wilson looked at the major newspapers' reports on the economic crisis and recalled what this crisis had brought about.
Under the Braston Woods system, the dollar tied to gold is a double-edged sword for the United States. On the one hand, the United States should maintain a trade deficit due to its settlement ratio in the world. But the U.S. dollar is tied to gold. Once a large trade deficit occurs, the U.S. gold reserves may be exhausted.
The U.S. dollar tied to gold is actually far less powerful than the petrodollar of later generations. The United States has always been worried that other countries will use the debts they hold to launch attacks on the U.S. gold reserves.
Since the war in 1945, the United States has maintained a trade surplus for a long time. The industrial advantages accumulated during the war are still quite strong, allowing the United States to unilaterally express friendship, and other countries can provide trade protection to a certain extent, occupying a small share of the United States. Cheap.
Of course, the United States wants to weaken the United Kingdom most. It has never relaxed in weakening the United Kingdom. However, in New Delhi, 100,000 civil servants worked together to monetize British India, covering four million square kilometers, allowing them to turn it into a large The main external reason for Britain to swallow the pill was the establishment of the socialist camp and the pro-Soviet forces in European countries. After Britain recovered, the United States judged that it was better to let Britain go.
A variety of conditions contributed to the legacy of British exchange controls. The Imperial System of Preferences, protected by exchange controls, gave the Overseas Assets Management Committee the opportunity to play a role in these years.
Since then, the production capacity of Europe and Japan has been rebuilt, and domestic demand has expanded, providing a larger market for American goods; the number of European and Japanese products exported to the United States has continued to grow, but it is still not enough to balance imports from the United States, and U.S. imports and exports have remained With a large surplus, the world economy has entered a virtuous cycle.
The economic crises of 1948 and 1954 were nothing more than minor troubles, and the United States weathered them with only minor adjustments. But this time it was different. From the very beginning, Japan was affected at the same time as North America.
The economic crisis spread to various countries in almost January. At this time, Alan Wilson in Kuala Lumpur received a telegram from Whitehall. The telegram came from Cabinet Secretary Norman Brooke, asking Alan Wilson to return to London immediately.
"Fancy it? Overseas Asset Management Committee's liquidity!" Alan Wilson looked at the telegram, immediately picked up the phone and said, "Richard, come to the office."
"Commissioner Wilson, you call me." Not long after, Richard, the head of the administrative bureau, came in and asked his immediate boss what he wanted from him. He asked the question in astonishment because Alan Wilson was doing a horse stance. posture.
"London asked me to go back." Alan Wilson returned to his normal state and no longer performed the reverse magic technique in front of his subordinates with such a terrifying aura. "You can discuss the colonial matters with the commissioners of East and West Horses. If you have anything to do, please call me." Report, and prepare information about Myanmar, it might come in handy.”
"Commissioner, please don't worry." Richard agreed immediately and asked redundantly, "Is it because of the overseas assets?"
"There is something in this regard for sure." Alan Wilson raised his wrist, it was not yet two o'clock in the afternoon, and said apologetically, "I left early today to prepare for my return. There is no one in the telegraph room. …”
In order to maintain the harmonious relationship between the couple, Alan Wilson wanted to tell his wife in Perth... and his sister-in-law that his trip to Australia to accompany him had to be postponed due to unexpected events.
Alan Wilson then left the administrative office and got into Anna's bed at night.
"Working around every day, your little brother is starving and thin." Anna grasped the handle and said with some dissatisfaction, "I accompany those old women every day, and I don't know how to spend more time with me."
"My dear, you can't say that. If you reach their age and are in the state they are in today, that would be considered a great success." Alan Wilson kissed Anna and said with a playful smile.
He has never denied the issue of old age, but people are different. Some people can extend their youth as much as possible. There are many examples from later generations, such as CCTV Ren Yingying, daughter Wang, CCTV The female characters in Water Margin kill as much as they get older. On the contrary, Mao Mei's success rate is relatively dangerous. Examples like the Prosecutor General are not excluded, but the proportion is indeed small.
After saying this, Anna was unwilling and muttered, "You said that my sister and I are the most perfect."
"I did say it, but these are two questions." Alan Wilson said in his heart, you two were selected.
"I must be in better condition than them." Anna reached out and grabbed the man's big hand and placed it on her abdomen. "Look, the belly after giving birth to two children is still tight and delicate."
"I need to do some in-depth research to make a correct judgment." Alan Wilson turned over with a smile, but suddenly gave up halfway and said righteously, "Due to the enthusiasm of various countries for space competition, I think it is more in line with the trend to ride on a rocket. "
After sending a series of telegrams, mentioning the importance of logistics support, and successfully getting feedback, the hard-working imperial commissioner prepared to return home from Vivien Leigh's boudoir one day later.
"Goodbye." The British treasure leaned against the door and extended his hand to say goodbye to the man with a flirtatious look.
Alan Wilson, who happened to meet the little dragoon returning home, could only board a flight with Anna by coincidence.
In addition to appeasing the ladies of the same status as his wife, Alan Wilson's return was not unpleasant. After landing at London Airport, he rushed directly to No. 70 Whitehall without taking a breath.
The chain reaction brought about by the economic crisis has already appeared, and all countries have been affected to varying degrees.
I bought a newspaper on the way, and the front page headline was Harold Wilson's report on Switzerland's accusations, "The goblins of Zurich are always trying to attack the pound. Speculators are Britain's biggest enemy." , and only a small part has surfaced.”
"Oh." Alan Wilson, who was riding in a taxi, looked at the full text of Harold Wilson's speech in the newspaper and sighed inexplicably to the future British Prime Minister.
"Sir, are you also an official in Whitehall?" Taxi drivers in London have a common problem among drivers in capital cities around the world. I can't say that all of them are political experts, but the proportion is certainly not small.
"No, I came back from the colony." Alan Wilson put away the newspaper and chatted with the driver.
The driver was not polite and expressed his views on the current economic crisis sweeping the world. From the Cold War confrontation, to the future of the British Empire, and even the bad relations between Britain and the United States, he spoke without any stage fright.
"It was a pleasant journey, sir." Alan Wilson paid the fare and said goodbye with a smile after getting off the bus.
Without stopping, he entered No. 70 Whitehall and followed the private secretary into the Cabinet Secretary's Office. After waiting for a long time, Norman Brooke arrived belatedly. He nodded to Alan Wilson and said directly, "Alan, I know. Is it the purpose of urging you to come back?"
"Is it related to the economic crisis?" Alan Wilson asked in a questioning tone, and Norman Brooke nodded. "Indeed, this economic crisis is unusual. Economists believe that it may have a far-reaching impact."
"That's strange, economists actually understand economics." Alan Wilson said with an expression that everyone understands.
"The goblins in Zurich have also been hostile to the British pound." Norman Brooke changed the topic, "Do you understand?"
"The goblin is not in Zurich. Switzerland, even with its special status, is not enough to shake the pound." Alan Wilson said without thinking, "Our suspicious allies have contributed a lot to this matter."
"As long as you know, I asked you to come back because you have Britain's huge overseas assets in your hands. Just in case, there is speculation on the pound, and you may have to use this asset as a last resort. After all, the economic crisis is coming. No one can be sure of being alone." Norman Brooke did not hide his thoughts and told the truth directly.
Alan Wilson raised his eyebrows and stretched out his hands to make an angry gesture. Norman Brooke said with a confused expression, "Alan, are you feeling sorry for the funds in your hands?"
"It's not a big problem. The money itself belongs to the country. It's just that I'm wondering if there are other ways." Alan Wilson frowned and said to himself, "For example, how did the Soviet Union respond to the Great Depression? . And from my work experience, I always think of my days in British India.”
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