The quarrel continued until the end of the Paris Peace Conference, and the United States did not express its position on this, and the Chinese government immediately issued a tough attitude. Pen? Interesting? Pavilion wWw. ｂiquge。 ｉｎfo

"We regret the attitude of the American side and have to take corresponding measures to express our outrage, our country declares the following three points:

First, punitive tariffs of up to 1,000 percent on U.S. goods.

Second, it restricts U.S. investment in China, and from now on, it will not accept any investment from the U.S.

Third, the "Restriction of Americans Act" was introduced, which prohibits Americans from settling in China before the United States repeals the Chinese Exclusion Act, and all American residents who leave China are prohibited from re-entering.

These three articles will take effect from now until the United States repeals the Chinese Exclusion Act and apologizes to China. ”

Lu Zhengxiang very solemnly openly expressed China's attitude at the League of Nations conference.

After discussing the affairs of Asia and the Americas, China was excluded from the Council of Ten, and Britain, the United States, France, and Italy discussed European and African affairs, after which Italy was also excluded, and Britain, the United States and France formed a triumvirate to discuss affairs with Germany.

Now that all the issues have been discussed, and the League of Nations has been formed, as the hegemon of the East, it has naturally replaced the original seat of Japan and become the five permanent members of the League of Nations.

Just when everyone thought that the Paris Peace Conference was over and the world was going to be calm, Westerners suddenly discovered that the Chinese were really here, and Sino-US relations suddenly became tense.

The Americans expressed a strong protest against this, and under the influence of this, the 100,000 Chinese who remained in the United States left the United States not worried, but some returned to China, while others went to Mexico, Brazil, and other places.

It seems that both sides will lose, but the Americans have suffered even greater losses, with thousands of American businessmen doing business in Shanghai, more than 3,000 American-funded enterprises investing in Yantai, and tens of billions of dollars in profits involved.

Because of the introduction of the American Exclusion Act, American businessmen and investors are very worried that they will not be able to stay in China for the rest of their lives, and even the vast majority of Americans will not stay in China for a whole year, and they will return before Christmas every year. But not anymore, once they leave, they can't enter again. So who will protect his property? This is exactly the plight of overseas Chinese in the United States under the Chinese Exclusion Act in the past, and now these Americans have tasted it.

Americans can't stay in China for a long time, leave and can't come back, they only have two choices, either stay all the time and become a Chinese, or sell assets before leaving, most Americans don't want to be a Chinese, so they began to sell assets, a large number of American assets sold in the short term, can only cause prices to plummet, whether it is American assets listed in Shanghai, or fixed assets, all have a price crash.

Tens of billions of dollars of asset changes have had too much impact on the market, and an economic crisis has occurred unexpectedly.

Yang Chao has long known that an economic crisis will occur, even if there is no restriction on American capital, this crisis is doomed, because the expansion of heavy industry and manufacturing is too strong, the market simply cannot accommodate it, and it can be adjusted through war, but it is impossible to solve the fundamental problem.

With the end of the war, many enterprises began to have difficulties some time ago, and after the beginning of the exclusion of the United States, American capital withdrew and sold assets, causing large market fluctuations, which naturally detonated this imbalance and caused an economic crisis.

Starting with the American-funded enterprises in Yantai, it soon swept through the heavy industry enterprises in Shandong, and the stock prices of heavy industries began to plummet, financing became difficult, financing costs rose, operating costs increased, profit margins decreased, and even became negative, so bankruptcy naturally occurred.

Then the light industry also broke out in a crisis, and the textile, flour, and leather industries, all industrial enterprises began to have operational difficulties, and a large number of layoffs occurred.

Although Yang Chao had long expected this crisis, he did not plan to interfere for the time being.

He needs this crisis.

At the request of the capitalists in Congress, Mi Qing took action, and at the request of the capitalists in Congress, he began a policy of trade protection, increasing tariffs across the board, and the average import tariff reached 500 percent, almost completely excluding European and American products.

But that didn't stop the economic crisis, which soon began to spread, and the first country to be affected was Japan, which is now so closely tied to China's economy that China will catch a cold if it sneezes.

Seventy percent of Japan's cement production capacity is exported to China, and most of Japan's huge merchant fleet comes from China, and China's economic crisis, although because of the East Asian Economic Mutual Assistance Alliance Treaty, has not increased tariffs on Japanese goods, but the shrinking Chinese economy has naturally reduced the import of Japanese cement, and the transportation of goods has also decreased.

In fact, Japan's economic crisis, has long planted the seeds, during the war, Yang Chao presided over, handed over a large number of war orders to Japan, to Japan blood transfusion, so that the Japanese economy quickly recovered, now has fully exceeded the pre-war period, but the end of the war on Japan was a great blow, their metal products processing industry began to depression after the end of the war, so China's economic crisis first affected Japan.

The spread of the economic crisis has not stopped, from Japan soon to the United States, because a large amount of American capital was restricted by China, the United States was affected, plus their huge production capacity that swelled up during the war, in fact, it was also in surplus, so when the Asian economic crisis began, China restricted the import of American goods, and Japan also reduced the import of American steel and other goods, the economic crisis in the United States was natural.

In just one month, the economic crisis that started in Shandong not only affected the whole country, but also affected the whole world.

The spring of the 5th year of the republic came in the midst of a crisis.

Yang Chao will not care about this crisis, at least for the time being, because he knows that this crisis cannot be a large-scale economic crisis, and Mi Qing and they can handle it.

Because the world environment is in demand, European reconstruction needs a large number of materials, building materials, machinery and equipment, raw materials, etc., which Europe itself can not produce for a while, they can only ask other countries for help, the original history, the United States is benefited by this, and now China can get a piece of the pie, through the economic crisis is not a problem, through the test of the economic crisis, followed by a long-term prosperity.

Mi Qing is still a little immature in the end, she was really at a loss at first, there were layoffs everywhere, workers were unemployed, and social security problems were serious.

Mi Qing's first reaction was to think of Yang Chao, and she flew directly to Siberia to ask to see Yang Chao.

"Can't be messy, as long as you don't starve to death, it won't be messy!"

Yang Chao said a word to Mi Qing, and took her to visit the imperial palace he was building, the summer residence of the female tsar, located on the outskirts of Irkutsk, on the shore of Lake Baikal.

After Mi Qing got this golden and jade good word, she didn't have time to linger with Yang Chao, and immediately returned to China, but she still didn't know what to do, everyone knows the truth, but how to do the specific operation, the details often determine success or failure.

She could only think of a relief solution, counting the real unemployed workers in the city and giving unemployment subsidies until they could find jobs again.

However, many workers are very dishonest, receiving handouts and finding jobs without notice.

This policy soon became unenforceable.

But there is no turmoil if people do not starve to death, and this is indeed a truth, and it is especially true in China.

After a month of nervousness, Mi Qing was relieved, she saw some good things, he found that many workers found it really difficult to find a job in the city, not like the United States and European countries that have begun to work, but rolled up the covers and rolled back to their hometowns, back to the countryside.

Millions of workers have returned to the countryside from the cities, and for a time the major cities seem empty, and the unemployment rate has reached 20 percent, but less than half of the unemployed workers remain in the cities.

There is also an advantage to not having urbanization, that is, workers from the countryside generally have a hometown to rely on in the countryside.

But how much savings can their rural families have, supporting them for a month or two, and half a year is enough to make most families destitute and bankrupt.

Workers lose their jobs, the market shrinks, the market shrinks, the enterprises cut production, the enterprises cut production, the workers are laid off, the market is depressed, this is a chain of vicious circles, counting on the self-recovery of the market, as if the patient is relying on resistance to restore health.

The patient recovers on his own, although it is painful, but after recovery, he has antibodies and his body will be healthier.

After the economy recovers itself in the crisis, a large number of uncompetitive companies will go out of business, and the fittest will survive, leaving the most competitive ones.

The pain began, and from March onwards, a large number of businesses finally became unsustainable, began to declare bankruptcy, and business owners fled, and even committed suicide.

What Yang Chao didn't expect was that the people who committed the most suicides now were the entrepreneurs of the Rich and Strong Party, these people had ideals and enthusiasm, Yang Chao thought they were strong enough, but he didn't expect that it was these people who couldn't withstand the blow the most.

"Sure enough, the flowers in the greenhouse were the first to wither!"

Yang Chao was furious.

The entrepreneurs in the Fuqiang Party, who took Yang Chao's loan back then, can be said to have grown up under Yang Chao's wings, without going through the fierce market competition, mainly concentrated in the field of heavy industry, and each industry is very large, but the sudden bankruptcy has also hit them very hard.

There is nothing wrong with having ideals and ambitions, and when their ideals and ambitions are broken, they are hit harder.

Although he was angry, Yang Chao couldn't watch these people commit suicide, so Wang Qiu should pay attention, especially those who were bankrupt, and they must be appeased.

In May, a large number of small factories closed down, and the output of the surviving enterprises was also greatly reduced; a quarter of the heavy industry enterprises went out of business, and 10 percent of the light industry enterprises closed down. (To be continued.) )