Mediterranean hegemon

No one doubts Contini's determination to "rebuild Italy's heavy industry system in 10 years", and no one doubts that Italy cannot achieve this goal, because from 1922 to the present, Italy's industry, especially heavy industry production, has maintained a high-speed development momentum. Economists have done statistics, and the average compound growth rate over 5 years is as high as 11%. In 1928, due to the commissioning of a large number of projects, the speed is even faster, and it is expected to achieve 12.5%, thus further raising the average compound growth rate over 6 years. Although 1922 was a year of relatively low industrial output in Italy, and part of it was due to restorative growth, considering that the United Group has an increasing share of factors in the later period, the attitude of the economic community has become more and more optimistic.

If Italy is measured by a 12% growth rate, it can double in just 6 years. Even if it only maintains a 10% growth rate, it can double in 8 years. Simply comparing output values ​​may have inconvenient factors such as exchange rates, but comparing major industrial products can reveal clues:

Steel production: In 1922, France produced 4.53 million tons, Britain produced 5.98 million tons, and Italy produced 980,000 tons. By 1927, France produced 8.35 million tons and Britain produced 9.24 million tons. Although both were substantial increases, Italy's growth was obviously greater, reaching 2.19 million tons, and it could exceed 2.5 million this year.

Aluminum production: In 1922, France produced 7,000 tons, Britain produced 7,000 tons, and Italy produced only 800 tons. However, by 1927, France produced 25,000 tons, Britain produced only 10,000 tons, and Italy produced nearly 16,000 tons. After the Libyan aluminum project is completed, Italy's aluminum production will exceed 40,000 tons, surpassing the total of Britain and France.

Crude oil production: In 1922, France and Italy produced almost zero tons, while Britain produced more than 4 million tons thanks to Iranian crude oil. However, by 1927, Italy produced more than 6 million tons, France produced more than 2 million tons, and Britain produced only more than 5 million tons. The scale of less than 10,000 tons, and everyone knows that most of France's more than 2 million tons is due to Italy's exploitation of Algerian crude oil;

Power generation: In 1922, France had 7.3 million kWh, Britain had 9.27 million kWh, and Italy had 4.54 million kWh. Britain and France had half to double that of Italy, but by 1927, Italy's power generation increased to 12.07 million kWh, France had 12.58 million kWh, Britain had 14.5 million kWh, and Italy almost caught up. This year, Italy has two more power plants in operation. The statistics in 1928 can definitely show that Italy has surpassed Britain and France in terms of power generation.

For example, in 1922, France had 75,000 vehicles, Britain had 90,000 vehicles, and Italy had less than 20,000 vehicles. Britain and France had a 3-4 times advantage over Italy, but by 1927, although the output of France and Britain increased to 190,000 and 210,000 vehicles respectively, Italy also exceeded 120,000 vehicles. France only had half more than Italy, and Britain was less than twice as much as Italy.

Of course, the gap in some areas has widened. For example, in the coal industry, Britain and France have achieved at least 50% growth, while Italy has not grown but slightly decreased. This is caused by changes in the energy structure. Another example is the wood processing industry. Britain and France have doubled, but Italy has only grown by less than 20%. The reason is that Italy has no colonies to mine wood in large quantities. All wood is produced in Italy, and there are only so many forests. The United Group has to limit the scale of mining to protect the green. Italy needs a large amount of wood for large-scale construction. What should it do? Extensive imports, British and French colonies, the Balkans, Eastern Europe and even the Soviet Union continuously provide Italy with wood.

It is particularly worth mentioning that almost all the sleepers used in the newly laid railways in Italy were imported from the Soviet Union. The Soviet Union relied on these sleepers to exchange Ansaldo naval guns, Caracciolo-class technical drawings, and Fiat's automobile factory from the Italians. The latter established a factory in the Soviet Union to produce trucks and cars. In addition, a large number of wooden furniture in the decoration of new houses were also completed with Soviet birch, cedar and other boards.

Another example is the mining industry. Italy has few minerals, but the stone is very good. Therefore, the bauxite, alum, chromium, tungsten, tin, lead, and copper used by the United Group are almost all imported from abroad. The Soviet Union and Turkey provided a part, and Britain and France also provided a considerable amount. This spillover effect in turn increased the advantage of Britain and France over Italy. But without mines, nothing can be done. Fortunately, there is now a large source of Jiangxi Tungsten Mine, and scrap steel can be exchanged for materials from the Far East.

Although Italy's advantages in some areas are very obvious, they seem very low-key due to long-term lack of publicity. For example, in the civil aviation industry, the total number of airports, route mileage and even the number of civil aircraft in Italy are the sum of those of Britain and France. United Airlines is the world's first super-large aviation company with more than 1,000 aircraft, of which more than 200 aircraft are seriously performing civil aviation missions, which is almost the same as other companies, but the other 800 aircraft are the power of the Second Air Force: the floating airport aviation force founded by the president has more than 270 aircraft, nearly 200 of which are carrier-based, and more than 70 are seaplanes; the desert patrols in Libya and Algeria have more than 300 aircraft; the domestic black paratroopers and aviation clubs have taken up the remaining aircraft. In terms of the number of aircraft alone, it is almost the same as the new Italian Air Force, ranking fourth in the world's air forces. The top three are the United States, Britain and France. If the two air forces are combined, Italy can rank second in the world.

Even in the most fashionable field of naval aviation, United Airlines has not fallen behind in the face of the established aircraft carrier systems of the United States, Britain and Japan. The newly commissioned F2 fighter has a 450-horsepower air-cooled engine and the main structure is made of hard aluminum. Alloy, with a maximum speed of over 275 kilometers per hour, and carrying two 12.7mm machine guns, it is the best among mainstream powers in terms of speed and firepower. Japan's carrier-based fighter jets are not even at the level of F1. They have just been introduced to Xizizidi They are going to take it back for production. In two years they will realize that the three decks of the Akagi are just useless. The A2 attack aircraft that has just been tested on the ship is called a special postal aircraft, but it is the first type of flying aircraft. A torpedo attack aircraft with a speed of more than 200 kilometers per hour can carry a torpedo weighing 800 kilograms to launch an attack, which is comparable to the T2D and T3M of the US Navy.

Unlike procurement in these countries, which requires complicated arguments, budgets, allocations, and bidding processes, United Airlines does not need to go through such complicated and cumbersome procedures. As long as Contini says a word, the aircraft can be operated directly, so that it can overtake in corners. Even the Germans secretly trained more than 60 naval aviation personnel in the process.

Behind the advantages of the air force are the advantages of the aviation industry and the engine industry. Although this is not completely clear to the outside world, it does not mean that it does not exist.

The outside world understands that the president’s main concern is to bring heavy industry. As for light industry, which is Italy’s traditional advantage, he doesn’t care much about it, and thinks it should not be concerned: Italy’s fashion industry should let a hundred flowers bloom and compete for excellence, and needs the support of different cultural heritage and artistic styles. Although the rash intervention of the United Group can pull someone together, it will destroy the variety and charm, because the cultural atmosphere of the United Group has only one kind of prosperity and strength, not freedom, and this kind of tone cannot bring about art and fashion. Therefore, Contini's attitude towards these domestic smoke-free industries is very tolerant. As long as he supports the leader and recognizes Fascist, he will help and support as much as possible. Just like the elites of the United Group designate certain Italian fashion brands, this All strengthen the power of fashion.

Of course, Contini is not not involved at all. After all, the United Group also has relatively focused consumer industries such as motorcycles, radios, and household appliances, as well as relatively high-tech civilian industries such as PVC pipes, aluminum alloys, and telecommunications. We are preparing to enter the fields of chemical fiber and textile raw materials, but this is just a spillover from other industries and is not intended to replace domestic development.

Economists agree with this idea: Although Italy's total industrial output ranked last among the major powers in the past, it was still quite a lot, but the structure was unreasonable, with too much soft stuff, too little hard stuff, too much light stuff, and too little heavy stuff. , after the sudden emergence of the United Group, it has improved Italy's soft and hard structure, optimized the light-to-heavy ratio, and also created good space for light industry through the improvement of infrastructure: improved transportation and popularization of electricity have brought about the blooming of light industry layout, new residential buildings The construction of new urban areas and new commercial belts has brought about an increase in the demand for light industry. The steadily increasing salary level and the gradually decreasing unemployment rate have expanded the consumption potential of the people. The export of the United Group has also driven the sales of light industrial products. No matter what European and American countries think of Italy At least no one denies the sophistication and fashion of Italian products. In this regard, Italy is far superior to the Soviet Union.

After Contini shouted the slogan "Rebuild the Italian industrial system in 10 years", the public opinion and economic circles did not think that he was bragging but that he was more conservative. These trumpeters immediately turned into trolls on the stock market, especially United. Every time the group holds a press conference, it always gives reporters some exquisite gifts: sometimes it is an Italian silk scarf, sometimes it is an Italian-style lighter, sometimes it is a full set of United Foods new product tasting gift boxes with a few small resin toys. It is a rare thing on the market, which makes them have a great influence on the generous United Group. They all applaud the president's foresight, applaud Italy's prosperity and development, and applaud the large American equipment companies that can obtain Italian industrial orders. The country can achieve a win-win situation! It is a model of major-country relations in the new era!

Although the investment community does not know how Contini plans to repay the current US$3 billion plus US$2.4 billion loan, it does not prevent them from inflating the market value and stock price. Contini proposed that "300 points in the Dow Jones Index is the starting point of a new round of bull market." They took up their views and vigorously advocated them. The conservative ones saw 400 points, the optimistic ones saw 500 points. The stock commentators who said nothing surprising said, "In another 10 years, the Dow Jones will rise above 1,000 points, and another round of American A big bull market is not an unattainable dream!”