African Nationhood

In the original time and space, when the victory of World War I was coming to an end, the United States asked Britain and other debtor countries to sign a financial agreement with it to convert war debts into long-term loans.

However, Britain believed that war loans were political in nature and commercial transactions in the usual sense. Moreover, Europe suffered huge losses of life and property during the war and paid a heavy price.

However, the United States had already made unprecedented profits from the supplies sold to the Allied Powers before entering the war, so the war debt should be regarded as a contribution to the Allied Powers' victory.

As the United States' largest debtor country in Europe, the UK's role cannot be ignored.

Although the UK owes US$42 billion in debt, it is also a net creditor country. The UK's claims on countries such as France and Italy are higher than the UK's own liabilities on the United States.

Therefore, the United Kingdom advocates that the United States should learn from Britain's generous measures after the Napoleonic War, cancel war debts, and not regard war debts as commercial obligations, but only as part of the joint efforts and common sacrifices of all countries during the war.

That is to say, all war debts between the victorious governments will be cancelled, and all war debts will be cancelled.

At the Paris Peace Conference, Britain made similar claims, but President Wilson and the American delegation refused to discuss the war debt issue.

The following year, Britain proposed negotiations, advocating excluding debts owed by other countries to Britain in order to offset Britain's debts to the United States. This was again rejected by President Wilson.

Britain's war debt issue reflected its dilemma. On the one hand, Britain was forced by the decline in national strength and did not want to repay its debts. On the other hand, it was worried that defaulting on debts would damage British-American relations.

In the United States, large banks and conglomerates, as vested interests, pursue a liberal internationalist attitude.

They hope that the United States will pursue a more open policy and significantly reduce or even cancel war debts to achieve a win-win situation for the United States and Europe.

Many U.S. businessmen and business organizations are also worried that if Britain repays its debt, the exchange rate will be unstable and it will harm U.S. exports.

Therefore, they asked the government to reduce the interest on war debts or cancel part of the war debts to support the stability of British finances and the expansion of U.S. exports.

As early as September 1918, the magazine "The New Republic" advocated the cancellation of Britain's war debt and regarded Britain's reconstruction as a common responsibility.

By mid-1922, American bankers believed that canceling or reducing war debts could significantly increase national economic gains.

As American historian Dumond said: "War debts have given the United States a strong bargaining power in the diplomatic field. Our country could have given up war debts for foreign trade in order to reduce tariff barriers.

At the very least, we could give up war debts in exchange for international friendly relations and goodwill, but we did not do this. "

The United States has not done so because the national institution that dominates the formulation of trade and war debt policies is Congress. This institution is the home base of American nationalists, who are all small and medium-sized conglomerates who are independent of large conglomerates.

For these people, U.S. foreign expansion and changes in U.S. economic status have little impact.

They advocate high tariffs and trade protection and also require Europe to repay its debts because they worry that US concessions will make Europe a strong competitor in the future.

It was also the United States' tough debt-collection strategy that led to the gradual deterioration of the relationship between the United States and Europe. It also caused the United States to be completely shrouded in "isolationism" and eventually became a bastion of liberalism on the other side of the ocean.

This also led in disguise to the United States becoming an important weight for the Axis powers and the Allies during World War II.

The United States, which pursues "isolationism", made huge profits by selling goods to both sides at the beginning of World War II, completely establishing its status as a superpower.

If the United States initially adopted the strategy of the big bankers and consortium, canceling war debts and actively integrating into Europe.

Then the United States could not stay out of the war during World War II, let alone make a fortune from the war.

The United States, the chosen one, was able to stay aloof from the conflict in the early stages of the two wars, come off the field at critical moments, and finally win the battle.

People have to sigh, this is really the national destiny that God is chasing after the food.

……

Unlike the United States, South China is currently in a dividend period of crazy development of large-scale internal infrastructure, and internal demand is far greater than foreign trade.

Through internal infrastructure upgrades, these dividends are enough to incubate various domestic industries.

Moreover, Nanhua's demand for territory is relatively strong. Even if it falls out with Europe and loses the European market, it will not affect Nanhua's own development.

After all, Nanhua can gain profits through targeted foreign trade in the huge markets of Germany, Red Goose and Turkey. Therefore, South China needs to strengthen cooperation with the United States and strengthen its belief in ensuring the repayment of the three debtor countries.

……

"Well, I haven't thought about this issue carefully before. My initial idea is to set up a special debt committee so that Britain, France and Italy can contact our debt committee to strengthen cooperation."

Hearing this, Shi Jintang couldn't help but curl his lips. This American is too naive.

"Well, your idea is good, but you certainly have not imagined the situation where the three countries will default on their debts as a group. In my opinion, it is very likely that these three countries will default on their debts as a group.

Before the war, the annual fiscal revenue of the British mainland was about 2 million pounds. The combined fiscal revenue of all colonies was 1.6 million pounds. The fiscal revenue at the disposal of the British mainland was less than 3 million pounds.

Today, Britain owes more than one billion pounds in debt to both of us. After four years of war, Britain's domestic fiscal revenue will inevitably be greatly reduced, and their control over the colonies has also been further reduced.

Even if our two countries do not collect debt, their fiscal revenue will definitely decline.

And once we call for debt, it is a foregone conclusion that Britain's finances will fall into a vicious cycle.

The financial situation of France and Italy is even worse, and they are bound to fall into recession and a vicious cycle. "

President Wilson thought for a while, "Otherwise, our two countries will jointly put pressure on the three countries to recognize the suggestions I made before the war, turn these debts into long-term loans, and work out a long-term repayment plan."

Shi Jintang nodded in agreement, "This method is also possible, but we have to ask them, the Three Kingdoms, to come up with collateral. If they don't repay, we will use the collateral to offset the debt."

"Pawn?

You still want the colonies of the Three Kingdoms. "

Shi Jintang nodded, "Because we in Nanhua started as a colony, I know the importance of colonies.

Without colonies, the three countries can only be regarded as second-rate countries, and it is impossible to support their status as a powerful country.

As long as we control the colonies of the three countries, the three countries will inevitably surrender. "

Hearing Shi Jintang's straightforward words, although President Wilson quite agreed, he still had to say no to this suggestion.

In his opinion, the relationship between the United States and Europe is still closer, and he must not be deceived by this Chinese leader.

Being at odds with Europe will result in American products having no future in Europe, and the United States cannot afford to lose the European market.

Therefore, the President of the United States adopted the procrastination tactic, "I need to submit a report to Congress on this matter and wait for Congress' approval before it can be implemented, so I cannot support your proposal for the time being."

Shi Jintang sighed, "Okay.

But today we need to come up with a repayment framework so that the three countries can actually show their sincerity in repayment. "

President Wilson pondered for a while, "If you adhere to your previous opinions, I think we should sign a separate repayment agreement with the three countries."

Hearing that the Americans wanted to escape, Shi Jintang couldn't help but have the evil intention of promoting narrowness, and continued to ask: "Then how long will it take for your Congress to produce results?"

President Wilson did not expect that the other party would insist on it, so he could only vaguely say: "It will probably take a month or two."

When Shi Jintang heard this, he immediately expressed his regret that democracy is such a pain in the ass.

"Okay, I can wait a little longer, I hope you won't disappoint me."

Even if the United States fails to advance, South China will unilaterally increase its strength against Britain, France, and Italy.

Anyway, they will not be Nanhua's opponents in Africa. (End of chapter)