Everyone knows the benefits contained in monetary hegemony, but there are not many countries qualified to participate in the competition. As an international trade settlement currency, at least the following basic conditions must be met:

1. The economic size of the currency issuing country must be large enough;

2. The import and export trade volume of currency issuing countries must be large enough;

3. The currency itself has a stable exchange rate;

4. The state has the ability to guarantee currency redemption;

5. If the currency issuing country itself is the world police.

In modern times, the British were the first to meet these basic conditions, so the British pound became the earliest international currency.

However, due to the limitations of communications, the degree of economic globalization is not high, and the promotion process of the British pound is not smooth, and in international settlements, people are still more keen on using gold and silver.

With the continuous increase in international trade volume, the simple settlement of gold and silver is no longer appropriate, and the pound has stepped onto the stage of history and become the earliest international currency.

Unfortunately, Britain's economic hegemony was no longer stable at this time, and it was challenged by the Francs and Aegis in the process of establishing monetary hegemony.

Once opportunities are lost, there will be no more. Over time, Britain gradually lost its advantage in industry and economic scale, and the dream of hegemony of the pound ended.

Especially after the end of the European War, the Holy Roman Empire completed its unification again, and the strong position of ASCHUN on the European continent was established, becoming the most favorable competitor for monetary hegemony.

Advantages are advantages, and before the dust settles, no one can guarantee whether an accident will happen again. Franz clearly remembers that there is still a chosen country, and he is practicing his internal skills hard at this moment.

There is no way, the natural conditions of the Americans are too superior. Basically, all resources can be self-sufficient. Even if they are divided into three, they still have the potential to become a top power.

Both the United States and the Union countries have far surpassed Britain, France and Spain in terms of development potential. Especially the United States, its development potential even surpasses Russia.

The current defect is nothing more than a double lack of population, quality and quantity, which has become an important factor restricting the economic development of both countries.

Although Franz made preparations in advance and sent an irregular time bomb while the Americans did not react, it was unknown whether this thing would explode and when it exploded.

Franz does not want to pin his hopes on the unknown. Instead of letting challengers develop, it is better to use existing advantages to determine the general trend in advance.

Once monetary hegemony is established, it will not be so simple to overthrow it. Later generations of the United States have made various attempts to die, causing miserable countries, and the hegemony of the US dollar has not been shaken.

The reason is very simple, it is the irradiation effect. Monetary hegemony gathers funds from all over the world. With money, the development of technology has become faster and the military hegemony has been consolidated.

Step by step, step by step. Once the status of the overlord is established, it will be as strong as the leader of the Internet industry, and will be suppressed by later generations.

Once the monetary hegemony status of ASCHEN is established, then "the only one who can play the Holy Roman Empire of Death is the Holy Roman Empire itself."

Economic Secretary Reinhardt analyzed: "Your Majesty, if ASUS becomes an international settlement currency, then our economic model will also change.

The biggest problem facing ASUS is to become an international settlement currency. With the increasing volume of international trade, simply issuing international loans can no longer meet the demand.

In the early years, in order to reduce capital loss, we adopted a foreign trade balance model. In the past forty years, we have been in a trade surplus for most of the time.

It is not that this kind of surplus is bad. In fact, in the past years, we developed by accumulating our wealth bit by bit by bit.

However, it is out of place to defeat the pound and make ASCHD the mainstream currency in international settlements.

In terms of currency output, the British are the best learning objects. The current way of outputting the British pound mainly depends on the British trade deficit model.

If we want to overtake the trade deficit model, we must make choices, reduce the export volume of goods or increase the import volume of goods.

The Ministry of Economic Affairs believes that some unimportant low-tech industries can be abandoned to other countries, and we focus on developing high-tech industries."

The Vienna government has discussed the issue of the export of ASCHEN many times. In order to better promote ASCHEN, the Vienna government has continuously issued international loans to countries around the world twenty years ago.

Without the background of exporting the Aegis, no matter how politically needed it, a inferior customer like the Tsarist government would not have borrowed so much money from the empire.

However, the loan is fast and the capital return speed is also fast. As the world's largest industrial power, all industrial and commercial products can be found here. Most debtors have not yet taken it away after getting the money, and have taken it out to consume it again.

It is impossible to say that in this context, even if the Vienna government just wants a trade balance, the final result will still be a trade surplus.

The result of the surplus is a large influx of capital, which while promoting the development of the imperial economy, also hinders the development of international trade.

Simply put, gold and silver are outflowing in large quantities, and trading partners are becoming poor and have no money to buy more goods.

Knowing is not easy, it is not easy to change the economic model. If you don’t operate well, it will cause huge losses.

Now Franz understands why Americans in later generations have to play de-industrialization. Isn’t industries with high labor dependence, low pollution and low technology content the target of giving up?

After almost all the time gave up, the knowledgeable people suddenly realized that the country was hollowed out. However, it was too late at this time.

Competitors have developed by relying on cheap labor. If they want to resume industrialization, they can only accelerate research on artificial intelligence and compete with cheap labor through robots.

Franz doesn't know what the final result is. Before he traveled through time, artificial intelligence has not yet replaced artificial intelligence.

“What industries are the Ministry of Economic Affairs preparing to give up?”

It is inevitable to give up some industries. Franz is not an idealist. How is it possible to enjoy the dividends brought by monetary hegemony and not bear the sequelae of hegemony?

But what industry should be abandoned depends on the study.

Economic Secretary Reinhardt: "The industries that the Ministry of Economic Affairs is preparing to abandon are mainly concentrated in the low-end manufacturing and non-renewable resource mining fields.

Mainly include: mining industry, textile industry, printing and dyeing industry with rare resources, low-end clothing, shoes and sock production...

Considering the needs of domestic economic development and employment, it is obviously unrealistic to directly shut down these industries. The measures we have taken in the short term are to strictly approve new mining and register low-end industrial enterprises.

At the same time, the import tariffs for products in related fields are reduced, and these backward production capacity are gradually eliminated through time and market competition.

If the plan goes well, we will enter the era of trade deficit in about five years.”

Franz breathed a sigh of relief that there were no core industries in the industries that were about to give up. It seemed that the Ministry of Economic Affairs was still qualified and knew what the foundation of the country was.

If someone in the top government officials really proposes to give up the core industry, Franz will have to consider whether to overturn the table and change the way of fighting for monetary hegemony.

After all, this generation of leaders was carefully selected by him, and they were so short-sighted that there was no need to expect future successors.

Later Americans engaged in industrial hollowing out because of the rapid development of artificial intelligence and they could be brought back at a certain point in the future, so they dared to play like that.

Because of a mistake in judgment, the expected technological breakthrough did not happen, and everyone regretted it.

If you were to play like this in the 19th century, you can refer to the French in the original time and space. If you did not get the currency hegemony, you would turn yourself from an industrial empire to an usury empire.

With the lessons learned from the past, Franz naturally dared not take it lightly.

In the same battle for monetary hegemony, there are two choices before the Vienna government. The one who benefits the most is naturally the one who takes the battle himself; if you want to settle for the second best, Franz can also push the Continental Union to seize monetary hegemony.

In a sense, the latter has a higher probability of success. These days, the power of the Continental Union has been gathered. Not to mention the British, even if the whole world is combined, it is not enough to see it.

The only problem is that the largest investment in the Holy Roman Empire is not high, and you may only get a little more now.

After pondering for a while, Franz shook his head: "The risks brought by the change of economic model are very great. We are different from the British. You can learn from it, but you don't need to imitate it."

To be safe, what we can do in the short term is to reduce mineral mining. Regardless of the mines that have been developed, the mines that have not yet been developed must be strictly reviewed.

The government must have a clear idea of ​​which minerals must be developed, which minerals can be reduced and which minerals can not be developed for the time being. It cannot be blindly involved, which will affect domestic economic development.

It is best to introduce relevant natural resource laws to prohibit the export of mineral raw materials in the form of law. These energy sources can also be temporarily included in the resource control list and strictly approved for export.

Strictly review low-end manufacturing industries and reduce capital inflows. Let the market make the choices for the rest. There is no need to reduce tariffs specifically and targetedly. Too deliberate will not be beautiful.

In the short term, the government's focus can be on pollution control, especially in the core areas of the local area, heavy pollution enterprises in lakes or rivers upstream must be relocated or closed down."

Comprehensive control of pollution is unrealistic. Not only does it not have that technology, the Vienna government also does not have that much money.

However, Franz is still confident to make some fine-tuning to migrate or close some heavily polluting enterprises.

Anyway, in order to promote ASCHE, the Holy Roman Empire will gradually enter the era of trade deficit, and it is just a good opportunity to eliminate some heavy pollution industries.

In order to promote ASCH, Franz also fought hard. Even his own oil industry can be included in the resource control list.

Of course, this is also a limitation of the times. The international market demand for oil is not high, and the "oil-Asian Shield System" is even more invisible.

Moreover, restricting oil exports is not a benefit. On the surface, money is less profitable, but in fact it hits competitors.

As an important oil exporter, once the Holy Roman Empire reduces crude oil exports, international oil prices will inevitably rise.

Affected by this, the promotion and use of internal combustion engines will inevitably be affected. Now is a critical period of the Second Industrial Revolution, and it will be difficult to catch up if you miss it.

Franz doesn't mind sacrificing a little money for the moment. Anyway, oil is buried underground and can't escape.
Chapter completed!