Bulgarian Empire

The economic crisis is imminent, and Ferdinand knows that the Balkan countries are similar, and they are so powerless in the face of dumping by foreign powers.

As for tariff barriers, this thing is indeed a good medicine for countries with rich resources and huge markets.

But for the small Balkan states of the 19th century, it was a complete dose of arsenic. Taking Bulgaria as an example, a large part of industrial raw materials need to be imported, and it is heavily dependent on the international market for the large foreign exchange earnings or the export of agricultural products.

Bulgaria is not bad, at least with the efforts of Ferdinand, some industrial foundations have been laid. The biggest capitalist is Ferdinand himself, followed by the Bulgarian government, which has the strength to fight and will not shake its foundation.

The previous food safety law has now become a weapon to stabilize the market. At least now the food sold internationally is basically unable to be sold on the market, and the domestic food industry has stabilized.

For example, Greece and Serbia are miserable, their debts are high, and their national sovereignty has long been mortgaged. The national bourgeoisie in the country has not yet developed and is helpless in the face of the economic crisis.

Combining history, Ferdinand couldn't help but conjecture maliciously: "Germany's allies in the Balkans almost jumped back during World War I, fearing that they would be exploited badly in this economic crisis!"

Ferdinand had been prepared for a long time, and the first thing he did was to remove the inventory. All the companies under his company began to clear the inventory.

Regardless of whether it is three, seven or twenty-one, the goods are first changed to trademarks, and they are respectively marked with the vests of the British, French, German, Russian and Austrian companies that have been prepared in advance, and then shipped to the Balkan countries.

Ferdinand doesn't care about profits now. In short, it is important to realize cash first. In the economic crisis, cash has always been king.

Taking advantage of the eve of the economic crisis, Ferdinand put a lot of goods on the markets of Ottoman, Romania, Serbia, Greece and other countries.

International capitalists had now started dumping into the Balkans, and Ferdinand's sudden blow was clearly beyond the capacity of the market, and then in May 1892, the Balkans economic crisis broke out.

In Bulgaria, since Ferdinand was well prepared, and he is the largest retailer, no matter how cheap foreign goods are, they should give priority to their own products! Not to mention the government, procurement is basically monopolized by Ferdinand's industries, and in order to protect the national industry, it must continue to be used!

The key is that the big Bulgarian companies are not listed companies, and even the Bulgarian stock market has been shut down because of the depression. This guy wants to shear wool, but he can't do it!

In public opinion, the media led by Bulgaria Daily are all advocating the use of domestic products without money.

It also directly linked employment with the use of domestic products, and instilled in everyone that if foreign products were used, domestic companies would go bankrupt and everyone would lose their jobs.

The radical ones shouted: not using domestic products is the slogan of traitors.

In addition, in recent years, the government has promulgated labor laws. Under the leadership of Ferdinand's companies, the quality of Bulgarian capitalists has been forced to improve, and everyone's life is not bad.

Therefore, foreign goods led by Germany, although they are good and cheap, their sales volume is not large. People don't buy it, it can't be forced!

Forced to be helpless, the capitalists can only turn their attention to other places. Simply the Bulgarian market is so big, and there is little loss if you give up.

Then, the Ottoman Empire became the biggest victim. There is no way who can call him the biggest. The market of a country is bigger than that of all the small Balkan countries combined. Of course, it is the first goal.

First, the financial markets were attacked and the stock market wailed. Next, it hit the real industry again. Fortunately, the Ottoman Empire's industry is backward, otherwise it might be a play this time.

Then came Greece, Serbia, Romania and other small countries, which were directly cultivated by international capital, leaving a mess.

International capital has withdrawn, you think this is over,

On the contrary, this is just the beginning.

The budding industries of the Balkan countries were directly destroyed, a large number of unemployed people were born, government revenue fell sharply, and domestic conflicts began to intensify.

Historically, the economic crisis only reached the Balkans in 1893, when it was nearing its end, and the losses were not so great.

Even so, the Balkan countries were hurt. For the next decade or so, countries were busy dealing with internal conflicts and recovering.

It's the same abroad, Ferdinand has no time to take care of it now, but Bulgaria, the country that suffered the least damage in the economic crisis, is also mourning now.

At the same time, the economic crisis broke out in the Balkans. Bulgaria's exports were hit hard, and orders dropped sharply. For enterprises engaged in export processing, the cold winter has come.

Even if there is a Russian market, it is not within the reach of these small capitalists. The Ministry of Industry estimates that if the economic crisis ended at the end of 1892, the number of Bulgarian enterprises would be reduced by one-fifth; if the economic crisis continued until the end of 1893, the number of Bulgarian enterprises would decrease Cut in half.

It is gratifying that most of these eliminated enterprises are family-style workshops with small scale and backward management. Even if it accounts for half of the total number, it is less than 5% of the total economic output.

According to estimates by the Ministry of Finance, Bulgaria's fiscal revenue in the second half of 1892 fell by a third compared with the same period of the previous year.

This also meant that in 1892 Bulgaria would face a severe fiscal deficit. The "Second Five-Year Plan" has already started, and the government's previous loans and home raiding income have all been invested in it, which is not enough.

Originally, Bulgaria's fiscal revenue was growing rapidly, and the fiscal revenue of the next few years was taken into account, and it was barely able to get together.

Now that the economic crisis has broken out, foreign exports have been sluggish, and fiscal revenue has dropped sharply.

More importantly, the "Second Five-Year Plan" cannot be stopped now. Once it is stopped, a large number of unemployed people will increase in the country, which will be another blow to the recovering Bulgaria.

But now Ferdinand is miserable and happy. On the one hand, the Bulgarian country suffered heavy losses and faced a financial crisis, which made him a big headache; on the other hand, he made a lot of money from this economic crisis.

Not to mention it in the stock market, but also to eat some leftovers. However, when it comes to bargain hunting, it is quite profitable, and it is difficult to calculate the specific value of acquiring a batch of potential companies.

Ferdinand was worrying about the finances of Bulgaria, and Franz hurried over and suggested, "Your Excellency the Grand Duke, we can set up a bank in Bulgaria. After the outbreak of the economic crisis, there was a run on the Winston Bank in Hungary, and there are other The bank risk is too great, and having your own bank is also convenient for foreign exchange.”

Ferdinand's eyes lit up, how could he forget such an important thing?

Now Bulgaria does not have a decent bank except the Bulgarian National Bank, and most of the financial business is still done by foreign banks. If you don't step on it, how can you be worthy of your identity as a transmigrator?