I Am the Crown Prince in France

Chapter 464 Three Rating Agencies

When Mirabeau saw that different types of industrial data appeared on the same chart over the past year, showing the trend of change clearly, his eyes suddenly lit up.

"Your Highness, how did you come up with this method? It's amazing!" He flipped through the different statistical charts one by one, and couldn't put them down. "God really favors you! Look at these charts, it only takes a few minutes to figure out the industrial situation last year."

And he just explained for nearly an hour.

These charts have improved work efficiency to an astonishing degree.

He immediately thought of more applications and said excitedly: "Perhaps, we can extend this data statistics method to factory production and administrative management."

Bai added: "And scientific research. This can make the paper clearer and easier to read."

"Yes, it is definitely a great innovation!" Mirabeau looked at Joseph, "Your Highness, I dare say that if government departments and factory managers use this chart to process documents, the efficiency of the entire country can be greatly improved.

"I suggest that it should be promoted throughout the country as soon as possible, and even government documents should be mandatory for use. "

Joseph was a little confused by what they said. He originally just wanted to make Mirabeau's report more concise and efficient, but he didn't expect it to have such a big impact.

He patted his forehead. He was used to seeing statistical charts before, so he subconsciously thought that this thing was nothing. Mirabeau was right. This little trick can greatly improve management efficiency, almost equivalent to Excel in the 18th century.

Joseph immediately nodded to Mirabeau and said, "Okay, please organize some scholars to help me organize the chart statistics method into a manual and print it in large quantities. As for how to teach managers..."

Mirabeau immediately continued, "Your Highness, we can incorporate this statistical method into the production standardization system, and Mr. Jeansonnet's management consulting company will be responsible for teaching it. "

Joseph nodded. These things that seem simple in later generations really needed professional companies to promote them in the 18th century. Just like in the early 21st century, you had to take a training course to learn how to make Excel spreadsheets.

Speaking of the production standardization system, Joseph couldn't help but think of another problem. Factories that adopt standardized production models should be rewarded. After all, they have contributed to the country's overall productivity improvement.

He first thought of tax cuts, but soon shook his head slightly. Before, whether it was industrial development zones or the promotion of automatic looms, the tax rate had been reduced by a considerable amount. It really couldn't be reduced any further. After all, France still had more than 2 billion in debt.

Perhaps, the establishment of a rating agency should be put on the agenda.

With a rating agency, for those who have achieved production standardization, , can give a higher rating to the company. Although the rating itself cannot generate profits, it is a reflection of the company's strength. Whether it is investors or consumers, they will definitely choose companies with higher ratings. When applying for loans from banks, companies with high ratings can also be approved more easily.

And they can also use the rating standards to guide the development direction of the company. Even after the influence of the rating agency is large enough, they can learn from the Western way of playing in later generations and come up with the business of "sovereign credit rating".

The so-called sovereign credit rating is an assessment of the credit quality of a country or region. Including national governance, economic performance, policy level, social structure, government financial strength and many other aspects.

You must know that the three major rating agencies in later generations are simply all-powerful and can give any country a sovereign rating. Ratings and scaring away foreign investment are no big deal. In serious cases, they can even trigger a national economic crisis!

Once the rating agency is established, France will have another economic weapon in its hands. If you dare to go to war with France, you will be shocked by the continuous reduction of sovereign ratings. Even if you can't collapse the other party's national debt, at least you can increase its financing costs and increase military spending pressure.

So who is more suitable to set up a rating agency?

Joseph thought to himself that first of all, it must not have the color of the French government, otherwise it would not appear to be objective and independent enough.

The consulting company that made Sonet very good is that in order to promote production standardization, its employees have exceeded a thousand people. It is entirely possible to split a part of it and establish a rating agency.

Then the French Chamber of Commerce will come forward and jointly establish a major bank. Rating agencies.

In addition, one can be established in a French ally. After all, if the rating agencies are all French, it will inevitably make some countries feel that there is something fishy going on when it comes to sovereign ratings for other countries.

However, no matter who takes the lead in establishing them, and no matter whether they are established in France or abroad, the dominant power behind these rating agencies must be firmly in their own hands.

Needless to say, the company of Jean Sonet was established to promote production standardization at the beginning, and the funds for its establishment were all taken out by himself. The rating agency that was separated is naturally controlled by himself.

The Chamber of Commerce cannot ignore the opinions of the royal family at all, and the funds are also provided by the French Reserve Bank, so it is not difficult to get control.

As for the foreign rating agency, it needs to be considered. It is best to find a local agency as a white glove, and France will inject capital to control it.

The location can be chosen in Spain, after all, it is a relative of the Bourbon family.

Joseph roughly thought about the rating agency, and continued to talk to Mirabeau about the development of industry. His eyes inadvertently swept across the line chart just drawn, and suddenly felt that something was wrong.

He picked up the chart and looked at it carefully. Previously, it was full of dense data, so it was difficult to notice the problem. Now, from the chart, it was discovered that the first nine months of last year were all upward, but starting from October, except for papermaking and brewing, the growth of other industries began to slow down.

He pointed to the lines on the chart and turned to look at the Minister of Industry: "Count Mirabeau, look here, it seems that there has been a problem with industrial development since October?"

"Yes, Your Highness." Mirabeau nodded hurriedly, "This is also one of the main contents I want to report to you today.

"The momentum of industrial development has indeed slowed down, and there are two main factors causing this situation.

"First, there is insufficient investment. After investing in the Luxembourg iron ore, there is not much money on the books of the Industrial Development Fund. Most of the investors interested in industry have completed their investments in the first half of the year, and some have entered the South Netherlands coal mines. Now there are fewer and fewer new investors."

The Minister of Industry paused and continued: "Second, the return on industrial investment is low, which has also caused new investors to wait and see, and factories are unwilling to increase production on a large scale."