Bulgarian Empire

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

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

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

　　 Bulgaria is not bad, at least with Ferdinand’s efforts, some industrial foundations have been laid. The biggest capitalist is Ferdinand himself, followed by the Bulgarian government. At any rate, there is a war that will not shake the foundation.

　　 The previous food safety law has now become a powerful tool to stabilize the market. At least now, foods sold internationally are basically not available for sale, and the domestic food industry has stabilized.

　　 Greece and Serbia are miserable, their debts are high, and national sovereignty has long been mortgaged. The national bourgeoisie in China has not yet developed and is powerless to face the economic crisis.

　　 Combining history, Ferdinand could not help but speculate maliciously: "Germany's allies in the Balkans almost all jumped back during World War I. I am afraid that they have been miserably exploited in this economic crisis!"

　　 Ferdinand has been prepared for a long time, and the first thing to do is to destock. All the companies under it have begun to clear the inventory.

　　 Regardless of the three-seven-one, first changed the trademarks of these goods, marked them with vests prepared in advance for companies from Britain, France, Germany, Russia and Austria, and then shipped them to the Balkans.

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

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

　　 International capitalists have now begun dumping into the Balkans. Ferdinand’s sudden blow clearly exceeded the capacity of the market. Then in May 1892, the Balkans economic crisis broke out.

　　Because of Ferdinand’s preparations in Bulgaria, as well as being the largest retailer in Bulgaria, no matter how cheap foreign products are, they should give priority to using their own products! Not to mention the government. Procurement is basically monopolized by Ferdinand's industries. 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 was shut down because of the depression. This guy wants to cut wool, but he can't do it!

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

　　 also directly linked employment with the use of domestic products, instilling in everyone: If all foreign products are used, domestic enterprises will go bankrupt and everyone will lose their jobs.

　　 The radical ones all 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 going well.

　　 Therefore, foreign products led by Germany, although good in quality and low in price, do not sell much. If the people don't buy, this can't be forced!

　　 was forced to be helpless, but the capitalists can only divert their eyes and cast other places. The Bulgarian market is simply that big, and there is little loss if you give up.

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

　　 First, the financial market was attacked, and the stock market was wailing. Then it hit the physical industry. Fortunately, the Ottoman Empire's industry was backward, otherwise I might have fun this time.

　　 Then there are small countries such as Greece, Serbia, Romania, etc., directly cultivated by international capital, leaving a mess.

　　 International capital has withdrawn, you think this is over, on the contrary, this is just beginning.

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

　　In history, the economic crisis in 1893 only spread to the Balkans. It was already nearing its end, and the losses were not that great.

　　 Even so, the Balkan countries are still hurt. In the next ten years, all countries were busy dealing with internal conflicts and regaining their vitality.

　　 No matter how foreign countries are, Ferdinand has no time to take care of it, but Bulgaria, the country that suffered the least damage in the economic crisis, is now wailing.

　　 An economic crisis broke out in the Balkans at the same time. 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 still a Russian market, it is not accessible to these small capitalists. The Ministry of Industry estimates that if the economic crisis ends at the end of 1892, the number of Bulgarian companies will be reduced by one-fifth; if the economic crisis continues until the end of 1893, the number of Bulgarian companies will be Cut it in half.

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

　　According to the estimation of the Ministry of Finance, Bulgaria’s fiscal revenue in the second half of 1892, UU Kanshu www.uukanshu.com, will be reduced by one third compared with the same period of the previous year.

　　 This also means that Bulgaria will face a severe fiscal deficit in 1892. The "Second Five-Year Plan" has been launched, and the government's previous loans and income from home ransacking have all been invested in, which is not enough.

　　 Bulgaria’s fiscal revenue originally grew rapidly, but after calculating the fiscal revenue for the next few years, it was barely possible to make up.

　　 As soon as the economic crisis broke out, foreign exports were sluggish, and fiscal revenues dropped sharply, and the next few years will face a fiscal crisis.

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

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

　　 If you don’t mention it on the stock market, you just ate some leftovers. However, when buying bottoms, they made a lot of profits. It is difficult to calculate the specific value of acquiring a group of potential companies.

Ferdinand was worrying about Bulgaria’s finances. Ferrantz hurried over and suggested: "Your Excellency, 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. The bank risk is too great, and having its own bank is also convenient for exchange."

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

　　 Except for the National Bank of Bulgaria, there is no decent bank in Bulgaria, and most of the financial business is done by foreign banks. If you don't step on a foot, how can you be worthy of the identity of the traveler?