If a country or economy often has a trade deficit, in order to pay the import debt, it must sell its own currency in the market to buy other countries' currency to pay the debts of the exporting countries, so that the national income will flow out of the country, and the country's economic performance will weaken. If the political axe is to improve this situation, it is necessary to devalue the country's currency, because a decrease in the value of the currency, that is, a disguised reduction in the price of export commodities, can increase the competitiveness of export products. Therefore, when the country's foreign trade deficit widens, it will be negative for the country's currency, causing the country's currency to fall, and conversely, when there is a foreign trade surplus, it will be good for the currency.

But the most important thing is that China's so-called national currency, that is, the fiat currency to be issued, is China's unilateral gold standard currency, which is forcibly pegged to the US dollar and the British pound, because the silver policy implemented by the United States itself in the financial crisis has caused a large outflow of Chinese silver, which is the most direct cause of currency reform.

The world economic crisis that began in 1929 was the deepest and most protracted crisis in the entire history of capitalism. The crisis not only involved the fields of industry, agriculture and international trade, but also extended to the field of money and credit, causing a crisis that caused turmoil and endangered the entire capitalist credit system.

Against this background, Western countries have abandoned the gold standard and implemented a policy of currency depreciation to enhance the competitiveness of their products in the international market, so as to achieve the goal of dumping domestic surplus products and passing on the crisis. As far as the United States is concerned, the implementation of the silver policy is a means of passing on the credit crisis. The so-called silver policy refers to a series of measures taken by the United States against the precious metal silver, including raising the price of silver, purchasing silver, prohibiting the export of silver, issuing silver bonds, and nationalizing silver.

As a result, Zhang Xuewu bought all the weapons, machinery and equipment in the United States, Germany, and even Europe, and paid all the silver dollars, and the outflow of a large number of silver dollars undoubtedly brought worse consequences to the poor and weak Chinese economy, and behind the great development of Rehe, Chahar, and Suiyuan, a large number of silver dollars were used by Zhang Xuewu to purchase the weapons, materials, and equipment needed, which was also a kind of helplessness.

However, this is a kind of happiness for Zhang Xuewu, because it is already an unimaginable thing to buy things with money, and if history is really like the later generations in 1937, when a war broke out between the two countries, then Zhang Xuewu could not buy anything he needed from the United States even if he held a silver dollar, because the Americans had to take into account the feelings of their largest exporter.

Moreover, now he is issuing a large number of so-called puppet Manchukuo coins in the three northeastern provinces, plundering a large number of silver dollars and sending them to Shanghai to arbitrage China's foreign exchange reserves, and after Zhang Xuewu sent Yao Le to intercept and rob several times, he said that he learned very quickly, and all the silver dollars were transported from North Korea to Shanghai in transshipment, so as to avoid Zhang Xuewu's plunder.

Rehe, Chahar, Suiyuan three places have let Zhang Xuewu run into a small economic entity and kingdom, but everything in this small kingdom is regularly reported to the central government of Nanjing, Zhang Xuewu's so-called investment promotion policy and huge investment in Baotou industrial base to the whole country can be described as attention, especially the German investment in Baotou is increasing unabated, the Germans value the mining industry chain in Baotou, and Zhang Xuewu also has the ability to buy tungsten ore from Jiangxi, Guangdong and other places.

Although Chen Jitang, the king of the Southern Heavens, resisted the Nanjing Central Political Axe from the economy and military, it did not affect him to sell a large amount of tungsten ore to Zhang Xuewu, because of the interference of the Nanjing Political Axe, Chen Jitang's tungsten ore could not be sold, but the Nanjing Central Political Axe wanted to sell tungsten ore but had to pass through the port of Guangdong, so it led to Nanjing and Guangdong no one wanted to make tungsten ore money easily.

And among them, it is cheap Zhang Xuewu, who is not offended on both sides, and the domestic tungsten ore is generally distributed in the coastal areas of eastern Guangdong on both sides of the Nanling Mountains, especially in southern Jiangxi, with reserves accounting for more than half of the world. In addition, Jiangxi Dayu, Hunan Rucheng, Zixing, Tuling and other places, as well as Guangxi and Yunnan provinces also produce tungsten ore, but most of the tungsten ore developed at present is controlled by Chen Jitang, the king of the Southern Heaven, and the most critical port shipping route is also controlled in his hands.

Chen Jitang also wanted to secretly get a piece of the pie through Zhang Xuewu's arms purchase, Chen Jitang and the representatives sent by Zhang Xuewu almost hit it off, but Zhang Xuewu didn't have the courage to blatantly put this money-making deal on the table, you must know that Chen Jitang is among the best among the people he hated the most in his life in Nanjing!

So as long as the tungsten ore under the banner of Zhang Xuewu is exported through the two Guangzhou, there is absolutely no problem, Zhang Xuewu is making money from tungsten ore while hoarding a large amount of ore, how can Zhang Xuewu, who loves armor-piercing bullets, be willing not to use that!

Zhang Xuewu, who has tungsten ore, is worried about a full set of refining equipment and the production of multi-caliber shells and fuses, in fact, Zhang Xuewu is very eager to develop and produce the tail stabilized shelling armor-piercing projectile, but the tail stabilized armor-piercing bullet is evolved step by step from the original ordinary armor-piercing projectile, theoretically using a lightweight bullet butt to sandwich the armor-piercing projectile body in the middle, the caliber of the butt is consistent with the caliber of the gun, the armor-piercing projectile is made into a slender rod, after the disembowel, the cartridge automatically falls off due to the effect of resistance, and the projectile body continues to fly along the barrel.

In order to ensure the stability and accuracy of the slender projectile body in the flight process, when manufacturing the armor-piercing projectile, four tail fins are installed in the tail part, arranged in a cross shape, so the tail is called stable, but there is a very important point, that is, the tail is stable and the armor-piercing projectile must be fired by a smoothbore gun.

Zhang Xuewu deliberately asked the German engineers, Zhang Xuewu has always thought that the smoothbore gun process is simple, low cost and easier to develop, because the early guns are basically smoothbore guns, after all, it is more difficult to add rifling in the barrel of the gun is a more difficult production process, in the early eighteenth century, with the continuous improvement of the metal metallurgical manufacturing process, rifled guns began to develop, due to the substantial increase in the hit rate, gradually replaced the application status of smoothbore guns.

German professional metallurgical engineers and artillery design engineers told Zhang Xuewu that the main difference between a smoothbore gun and a rifled gun is rifling, and the main role of rifling is to give the warhead the ability to rotate, so that after the warhead is discharged, due to the effect of centripetal force, it can still maintain the established direction to improve the hit rate.

But the current metal metallurgy technology is far from meeting the requirements, that is to say, before there is no corresponding technical reserves and mature metallurgical alloy technology, smoothbore guns that fire sub-caliber ammunition cannot be manufactured at all? Now Zhang Xuewu is completely dead, since the tail is stable and the armor-piercing bullet can't be manufactured, then let's retreat! Accordingly, tungsten carbide core armor-piercing projectiles were developed to improve the armor-piercing power.

Through the armor-piercing projectile, Zhang Xuewu also seems to have developed himself a little too ambitious, and down-to-earth development is the real last word, but Zhang Xuewu's xenophobia and great development have also attracted more attention from the outside world, and the voice of the Executive Yuan and the Supervision Yuan is the loudest, because Rehe, Chahar, and Suiyuan are under Zhang Xuewu's deliberate management, and they have no way to interfere in a large number of projects and transactions.

In China, there are two kinds of roads that cannot be blocked, one is the official road, the other is the financial road, Zhang Xuewu is at the moment greatly blocking the financial road of the Executive Yuan and the Supervision Yuan bigwigs, Zhang Xuewu, who is still short of money all day long, is naturally impossible to give gifts to those corrupt officials above, so it has also summoned all kinds of rumors, the Supervision Yuan itself is a place to catch the wind and shadows, many things are to say that you are okay, you are fine, and you have something to do.

However, Chiang Kai-shek didn't speak, and no one could touch a single hair of Zhang Xuewu, but Zhang Xuewu's reckless military force also made Nanjing have some scruples. However, fortunately, Zhang Xuewu was under the system of the Central Army and obeyed the dispatch and orders of the Supreme Military Commission, and the Rehe Army was a direct subordinate unit of the Supreme Military Commission.

Compared with the 87th, 88th, and 36th Imperial Forest Army Divisions and Teaching Corps, the equipment of the Rehe Army is second to none in the country, and Zhang Xuewu also set up a reserve training and a big competition, young people of appropriate age must receive at least three months of militarized training every year, and factory workers must also carry out paramilitary preparation and training.

In addition to increasing troops at the rate of one division per month, he also formed four tank brigades, and the Kwantung Army Air Force was also changed to a flying division, so it can be said that the fiasco of Rehe gave birth to the huge monster of the Kwantung Army in advance, and the Kwantung Army Headquarters has been upgraded to the General Headquarters, and the Kwantung Army has also set up a corresponding Front Army Headquarters, which consists of two front armies, the first front army headquarters is located in Mukden, targeting the North China side of Rehe, and the second front army headquarters is located in Qiqihar, aiming at the Soviet side.

Zhang Xuewu remembered that the Kwantung Army was upgraded to the general army in 1942, and now it is obvious that he was stimulated by the defeat of Rehe, and the whole country is shouting for revenge. The funds and supplies for the operation of its troops were all collected and plundered on the spot.

(To be continued)