After the conclusion of the exercise, the European and American powers urgently recruited representatives of military attaches of their embassies in China to return to China to report to their respective political axes on the military strength and actual combat effectiveness of the Chinese Empire, so as to assess the political, economic, military, and diplomatic implications of a possible war between the Chinese Empire and the Tsarist Russian Empire in the future.

After listening to the reports of the relevant personnel, the political axes of various countries conducted a systematic assessment of the military combat effectiveness of the Chinese Empire. The political axes of various countries basically affirmed that the combat effectiveness of the Imperial Chinese Army was stronger than that of the Zhili New Army six years ago, but the evaluation report of the Russian Army showed that the Russian army lacked training due to insufficient funds in addition to limited equipment improvements. Taken together, most of the national assessments concluded that the Chinese Empire had a slightly greater chance of victory than the Russian Empire.

With this assessment report, most countries in Europe and the United States have adjusted their China policies accordingly, and continue to encourage domestic capitalists to invest in China, believing that investing in China will be profitable.

For the military strategists of Europe and the United States, the artillery display and airship show of the Chinese Empire on the last day of the military exercise in Queshan surprised all countries.

With the same caliber of artillery, the artillery of the Chinese Empire has a long range, high strike accuracy, and strong destructive power, which represents that the artillery industry of the Chinese Empire has achieved a qualitative leap. What particularly shocked all countries was that the hydraulic brake system on the new artillery of the Chinese Empire was more advanced than the spring brake system of the existing artillery in Europe and the United States, which was simply a revolution in the field of artillery. As a result, the artillery industry of the Chinese Empire was recognized by the great powers of the world, and various [***] parties contacted the Ministry of Defense of the Chinese Empire and the Beiyang Ordnance Heavy Industry Co., Ltd., hoping to obtain this technology. And France is the saddest, the French successfully developed the 75 mountain gun with a hydraulic brake early on, for which France also deliberately took great pains to deceive German spies. Now that this laurel has been taken away by the Chinese, the French immediately said that they had already successfully developed a hydraulic brake system in order to save some face.

On the airship, the powers of various countries have already started the relevant research and development work, but it has not been successful, or it does not have actual combat capability. The Germans successfully developed a hard airship in 1899, and the overall technology has surpassed that of Europe and the United States, but because it does not have actual combat capabilities, it was finally defeated by the Adel 00 airship of the Chinese Empire.

The last resort of the Chinese Empire's military exercise was airship bombing, which caused military strategists in Europe and the United States to discover new strategic and tactical concepts. For the first time, the Chinese Air Force was officially recognized by the European and American powers as a war force, and as a result, the military of the European and American powers asked various countries to increase the air force as a new branch of the armed forces, and to form a huge air force like the Chinese Imperial Air Force.

The airship unit of the Chinese Air Force soon became the reference object of the newly established air force units of European and American countries, which triggered a new round of airship arms race among the European and American powers, and various countries vied with each other to study airships and airship combat theories, and the Chinese Imperial Air Force was directly praised as the world's first air force.

After the establishment of the Royal Air Force in Britain, the British political axe shamelessly asked the Chinese imperial political axe for airship design drawings and some related construction technology, on the grounds that China and Britain, as military alliances, should share technology.

In this regard, the political axe of the Chinese Empire expressed helplessness and was completely defeated by the shamelessness of the British. However, the Chinese Empire, proceeding from the overall situation, agreed to the request of the British.

After the British got the design drawings and technical parameters of the Type 00 airship from the Chinese Empire, they spent 50,000 pounds to buy a Type 00 airship and flew back to Britain directly.

This news was quickly taken seriously by the military of the European and American powers, and Britain quickly began mass production after obtaining the drawings. The British have money, and the parliament allocates two million pounds to the air force in one go, and in one go to build forty Chinese Type 00 airships.

France was very nervous when it got the news, because the British Air Force's airships could quietly fly to the French capital to drop bombs, which was a very huge threat to France's national defense and security. So France specially allocated millions of francs to set up a project to research airships, but France did not have this kind of technology accumulation before, so it had to come to China's rescue, hoping to purchase Chinese airships.

In view of the imminent military action against Tsarist Russia, the Chinese Empire pacified France and maintained good relations with France as the first priority, so the Chinese Emperor Wang Chenhao personally instructed to allow the export of Type 00 airships to France.

However, this move was opposed by Britain, so the Chinese Empire gave up the export of Type 00 airships to France, but promised France to provide technical assistance to France's airship project. The Chinese Empire risked offending Britain to help France, so it got the friendship of the French political axe and the military, and in return, the French political axe and the military said that they would not intervene in the dispute between China and Russia, but France said that it was limited to the eastern part of Asia, and if the Chinese Empire burned the war to Europe, then France still would not care, after all, France and Russia had an alliance treaty.

China and France then reached a compromise in secret, so France, with the covert help of the Chinese Air Force, quickly established the French Air Force airship unit and began to produce the French version of the Type 00 Méfitel airship.

After being influenced by the Type 00 airship of the Chinese Empire, Germany's Zeppelin also began to accelerate its development in the direction of militarization, but the progress was still unsatisfactory. So the German [***] side planned to purchase Type 00 airships from the Chinese Empire and bring them back to China for research. In this regard, the Chinese Empire agreed to Germany's demands from the strategic perspective of Russia and France, and although Britain and Germany were not very pleasant, the contradictions were not as deep as those between Britain and France, so they did not oppose it. As a result, the Imperial Congress of China approved the sale of five Type 00 airships to Germany, and the unit price was also 50,000 pounds each.

Similarly, the United States also placed an order with China for five Type 00 airships, and the US Army also established an airship unit.

Other European and American countries, such as Denmark, the Netherlands, Spain, and other countries, also organized airship troops one after another, and ordered one to several airships from the Chinese Empire. In Asia, the army was also interested in airships, so it also purchased an airship from the Adel Airship Company so that it could return to China for research. However, the Imperial Congress of China demanded that at least twenty airships be procured, otherwise it refused to export airships to Yueben. In this regard, he gritted his teeth and agreed.

Subsequently, he also formed an airship unit, and at the same time began to establish his own research on airships.

Tsarist Russia also wanted to obtain the airship technology of the Chinese Empire, and the Russian ambassador to China, Cuman, shamelessly made a request. Originally, the Chinese Imperial Political Axe did not want to export airships and technology to Russia, but France has already been allowed to obtain China's airship technology, and even if the Imperial Political Axe does not agree, Russia may also obtain relevant technology from France in the future.

In order to mislead the direction of aviation development of European and American countries, and misleading enemy countries is also the primary task, Wang Chenhao specially approved the export of airships and the transfer of airship technology to Russia. In this way, the Chinese Empire could not only mislead the Russians in the direction of aviation, but also make money by selling airships, the best of both worlds. At the same time, for the Chinese imperial [***] side, easing relations with Russia will be more conducive to the implementation of the secret raid operation plan of the General Staff.

The blow to the Tsarist Russian Empire is huge, the commander of the Tsarist Far East Alekseev said in his report to Nicholas II that the armament level of the Chinese Empire is much higher than that of the Tsarist Russian Empire, its combat capability is very strong, and its tactics should not be underestimated, and asked Nicholas II to reformulate the operational deployment against China, and Alekseev also said that the Chinese Empire has upgraded the standing army to an operational state, and the Chinese Imperial [***] team in the northeast is frequently mobilized, and it is possible to take the lead in starting a war. Ask Nicholas II to quickly send troops to strengthen the defenses of the Far East.

Nicholas II was very unhappy when he saw this report, and immediately sent a telegram to reprimand Alekseev, and replied: Although the military strength of the Chinese Empire has developed rapidly, it is still not the opponent of the Empire. Therefore, Nicholas II telegraphed Alekseev, asking him not to worry about this, the Chinese Empire did not have the courage to start a war on its own initiative. However, Nicholas II also reassured Alekseev, telling him that the Trans-Siberian Railway would be completed in three or four months, and that a steady stream of troops and supplies from Europe would be in place so that Alekseev would not have to worry.

Although Alekseev had a sense of foreboding, he seemed to think that the Chinese Empire would strike first, but the weather forecast in Vladivostok showed that there would be heavy snow in another month, and it would be a harsh winter, which would be very unfavorable for the attackers.

Alekseev put his fears aside. However, he still ordered the army to be more vigilant, and the engineering troops seized the time to build fortifications at Vladivostok, Nebuchu, Ulsan and other bases.

When the news of the great success of the military exercise came out, it undoubtedly reassured the people of the Chinese Empire.

The Imperial Axe assures its subjects that the Imperial currency, the Dragon Coin, will remain as strong as ever, will not be affected by war, and will remain constant against the British pound and the US dollar. As a result, the amount of dragon coins exchanged in the market decreased dramatically, and the citizens of the empire no longer purchased foreign exchange in large quantities. The conspiracy of the international financial tycoons to take advantage of the opportunity to disrupt the financial markets of the Chinese empire and make a fortune from the war was declared bankrupt.

However, these financiers did not immediately choose to retreat. Aside from the war factor, they also saw the huge potential for economic development in the Chinese Empire. In addition, the five major industrial bases, including the Liaoning-central and southern Liaoning Industrial Base, the Yangtze River Delta Industrial Base, the Pearl River Delta Industrial Base, the Yangtze River Middle and Upper Reaches Industrial Base, and the Guisui Industrial Base, are forming a scale, and the conditions are superior, which is very similar to the American development model 30 years ago, and it is also integrated into the advanced German idea of using science and technology to guide the productive forces. This Chinese-style economic development model, which perfectly combines the advanced technology of the United States and Germany, is favored by investors from all over the world, so these international financial predators ask to invest in various Chinese government bonds, including war government bonds, education government bonds, medical government bonds, etc., and of course, the most important thing is the industrial development government bonds, they believe that the Chinese Empire's industry will definitely expand at a high speed in the future, and will not be worse than the United States, so the profits of investing in China will be very considerable.

For the Chinese Imperial Government, stabilizing the financial sector and ensuring the rapid development of the imperial economy was the first priority. Investment from Britain, France, the United States, Germany, and other economically developed countries in Europe and the United States was extremely beneficial to the economic construction of the Chinese Empire, so the imperial government welcomed all countries to invest in China. Among them, Britain, the United States and Germany are in the era of large-scale capital export, and the rapid development of China's economy is the market for the transfer of capital export of the three countries.

By October of the first year of Guanghua, Britain had invested 200 million pounds in China, of which the purchase of Chinese government bonds to support the Chinese Empire against the Tsarist Empire accounted for the majority. The United States is the richest in the United States, and the American Zeringen, Citigroup, Cleveland and Rockefeller Consortiums, which are closely related to the Chinese Imperial Emperor Wang Chenhao, have taken the lead in importing capital into China on a large scale, accumulating as much as $1.5 billion. In Germany, represented by the Krupp Company, a large number of Junker new bourgeois aristocrats could not compete for the market of the old bourgeois aristocrats in Europe, so they had to move to China, with an investment of more than 300 million gold marks.

Of course, the large-scale import of capital into China by the European and American powers was also a big shock to the new bourgeois of the Chinese Empire, and for this reason, the Chinese Imperial Government learned from the strategy of the United States to develop rapidly with the help of European capital, and also erected high trade tariff barriers, and at the same time provided various state financial subsidies and preferential policies for domestic national industry and agriculture to support them to compete with foreign companies.

Generally speaking, the large-scale import of European and American capital into China has outweighed the disadvantages for the economic construction and growth of the Chinese Empire.

The Chinese Empire gradually stabilized its finances, the stock index in the Beiyang Stock Exchange resumed its steady growth, and the currency fluctuations of the dragon coin also returned to the range allowed by the political axe, and everything seemed to be back to normal.

However, the financial war against China has just come to an end, but everything has come and gone. The Chinese empire was also not easy to bully, and counter-retaliatory measures followed.

However, the Chinese Empire's counter-retaliatory measures were not directed at the international financial predators, but on the Russian Empire.

(To be continued)