Life in the Wisdom Garden is peaceful, leisurely, and interesting.

Aging is an inevitable process for everyone, and it is also the end of a person, but for Hu Chuyuan, he is still very satisfied with his current life.

As his children returned, his life with his wife became more and more interesting.

Family.

That's it.

Hu Weizhong has become the minister of the Ministry of Economy, Trade and Industry and the director of the State Assets Commission, and because he is Hu Chuyuan's eldest son, his cabinet nomination was almost unanimously approved.

That's not a good thing, though.

As Hu Chuyuan continues to age, people's expectations for him are getting higher and higher.

Hu Weizhong's wife, Mei Xin, is an associate professor of law at Fu Jen University, and she usually spends a lot of time at home, and many times, she accompanies Hu Chuyuan for a walk in the courtyard.

Hu Weitang is a brigadier general of the army, serving in the General Staff of the Army, and at the same time serving as the new director of the State Military Industrial Research Institute, whose task is to arrange the development plan of weapons systems in China in accordance with the requirements put forward by the general staff of the three services, and also to be responsible for the development of new weapons that are absolutely secret.

His wife is an assistant professor of military history at the Central Military University, and Hu Weitang is a classmate at Tongji High School in Shanghai, and they also studied in Germany together, and they have two sons and a daughter.

After receiving his Ph.D. in chemistry from the University of Bonn, Hu Weiting first worked at the Institute of Chemistry at Aurora University, and last year he also joined the National Tsing Hua University as a professor of chemistry, and served as the chief researcher of rocket accelerant research in the rocket artillery project of the National Military Industry Research Institute.

Hu Weiting's wife is a very ordinary Zhejiang woman, the two met at the University of Bonn, and now they are a pediatric attending physician at Tongji Hospital in Yanjing, and they also have a son and a daughter under their knees.

After graduating from Aurora University, Hu Weixin began to help his mother Pan Limei run the Zhihuatang Milk Powder Company.

Although he has the support of the Fukang Consortium and the original foundation of Zhihuatang, he can become the king of domestic milk powder before the age of 30 in such a fiercely competitive milk powder market at home and abroad, and make Zhihuatang's milk powder, dairy products, jam and milk tea sell well all over the world, which is enough to show his ability.

Hu Weixin's wife is his younger sister at Aurora University, she is very beautiful and intelligent, and she usually stays at home to take care of the whole family, which is very popular with Hu Chuyuan and his wife.

Hu Weihui and her husband Sun Yufang run Zhongfu Company together, involving banking, petrochemical, tire manufacturing, auto parts and other industries, home in Tianjin, will come back on weekends to get together with the family, husband Sun Yufang is the great-grandson of Sun Jianai, the surname is a little weird, but Hu Chuyuan's father-in-law is not bad.

Hu Weini continued to live in the United States, marrying a handsome man with special abilities and charisma, and dreaming of becoming the president of the United States.

Last year, Hu Chuyuan went to the United States on Hu Weihui, took Hu Weiya back to China, and lived with her sister in Tianjin, and recently Hu Weihui introduced her to a relationship with a diplomat in China.

Hu Chuyuan and Wu Shuzhen were very worried about this matter, but they couldn't see the result for a long time, and it was difficult for them to come forward, so they could only keep telling their eldest daughter Hu Weihui to let her think of more ways.

As the eldest daughter in the family, Hu Weihui is really hard.

Hu Weisai has always lived a good life in the United States, and is now the vice president and senior partner of Wanqi Group, he only comes back once a year, and sometimes brings his family in the United States.

Because he is Hu Chuyuan's adopted son and nephew, plus the sister of two celebrities who are in the limelight, he is always concerned.

However, he didn't like this kind of life.

He has been distressed, and he has complained to Hu Chuyuan, but no matter what, life is life, but it is just to make the best choice in countless helplessness.

The family is always very peculiar, there is warmth, there are all kinds of strange comedies, and there are many unsatisfactory places.

As the president of a country with a clear cooking system in the parliament, Hu Chuyuan doesn't have many things to worry about, and he spends most of his time living a very peaceful life in the senior administration garden without interference from the outside world.

However, in these days, Hu Chuyuan increased his work schedule, not only frequently paying attention to the affairs of the Central Military University and paying close attention to those young officers who had performed exceptionally well, but also making a series of adjustments to the national economic policy through Hu Weizhong's State Economic Commission.

The world economic crisis of 1929-1933 is known as the era of the Great Depression, which can also be said to be a great destruction.

In five years, half of the banking system in the United States has collapsed, total industrial production has fallen by 55.6%, automobile production has plummeted from 1.5 million to 120,000 per year before the crisis, world industrial GDP has fallen by 40%, total world trade has decreased by two-thirds, nearly 300,000 enterprises have gone bankrupt, and 17 million workers in the United States alone, accounting for 18.5% of the total population, have lost their jobs.

Once this economic crisis erupts, it will certainly be an unprecedented disaster for a major exporter like China.

After the gradual recovery of the economies of Britain, France, Germany, Russia and other powers, in the year of 1924, the Coolidge prosperity effect was still inevitable, and the large amount of dollar loans spent by the United States after the war gained a huge increase in value in just a few years, making the American economy, especially the financial and securities market, prosperous as never before.

In the United States, installment loans account for 74 percent of consumer loans, and consumer loans account for more than 40 percent of total loans.

Once the U.S. financial system goes bankrupt, Germany, which is entirely dependent on U.S. loans, will first collapse, and then spread to Britain and France, and further spread to the whole world.

It is impossible for Hu Chuyuan to control the US economy, especially Wall Street, which also means that the world economic crisis will eventually erupt.

Because, in the final analysis, the world economic crisis of 1929-1933 was a legacy of the First World War.

Hu Chuyuan did not make these things clear to Hu Weizhong.

Hu Chuyuan knows his eldest son very well, this is a good politician, upright, idealistic, and brave.

It is precisely because of this that Hu Chuyuan does not plan to make it clear with him.

He said to Hu Yuanyuan.

Hu Xueyan is the first generation founder of the Fukang chaebol, Hu Chuyuan, Hu Xuanyuan, Hu Shiyuan, and Hu Weiyuan are the second generation of people who carry forward, Hu Shiyuan has long since passed away, and the others are also old, and it is not too much to describe it as a wind candle.

Today, this big family is mainly maintained by the nine main third generations of Hu Weiqing, Hu Weirong, Hu Weijing, Hu Weichang, Hu Weizong, Hu Weikang, Hu Weichen, Hu Weilin, and Hu Weixin.

The generation of their generation is "Wei", the order is the same origin of Weiwen, Hu Weiqing is the eldest son of Hu Shiyuan's family, and now he is also 54 years old, serving as the general manager of Guangji Pharmaceutical Company.

In order to be slightly different from the fourth master's family, Hu Chuyuan and Hu Pinyuan discussed in their early years that the third generation of their family used the word "Wei" as a generation, not behind, but in front, that is, they were all called Hu Wei...... What what!

Hu Weizong is the eldest son of Hu Yuanyuan, and his grandfather is He Jing, who is now the general manager of China CITIC Bank, and can be said to be the real power figure in the third generation of the Hu family.

Unlike several other brothers, Hu Chuyuan is loose with his children, and lets them choose the profession they are interested in at will, so there are few children in his family who do business, only the eldest daughter Hu Weihui, the second son Hu Weisai and the youngest son Hu Weixin.

The relationship between Hu Weisai and Hu Chuyuan is not particularly good, many times, Hu Chuyuan always feels that Wei Sai does not like the identity of the Hu family, and may also hate the relationship between his biological father Hu Pinyuan and his biological mother.

Vesai is still very pitiful.

For money, his biological mother didn't want him, and in order to be a colt and an official position, his biological father didn't want him, so he could only be fostered in Hu Chuyuan's uncle's house.

Hu Weisai returned to the United States to live at the age of 17, and rarely came back after that, and only asked his eldest sister Hu Weihui to send some letters and greeting cards to Hu Chuyuan every year.

When Hu Weisai really had his own family and had a few children, he gradually understood the difficulties of being a parent and understood the meaning of home, so he would return to China every year to celebrate the New Year with his parents, and by the way, he also brought Hu Chuyuan's grandchildren back and played with other cousins for a while, so that they could understand the meaning of the whole big family.

Life, the unsatisfactory ** out of ten, when you get older, you will slowly understand that life is actually like this.

People, just live like this, in the vast universe, there is no more than you, and there is no less than you.

Even if you are the most powerful person on the planet, if you die, you are dead.

Family.

In fact, it is a kind of hope that life will continue to be passed downward, a kind of instinct of life.

At Hu Chuyuan's age, at this stage, he is very open-minded, and he can really understand these things clearly, for this upcoming ...... And he has no ability to avoid the world economic crisis, he is more open-minded.

The only option he could have in this period was acceptance.

Or, he has lost the heroism and grandeur of his youth, and all that remains in his body is a calm experience and stability.

Of course, he also knows very well that even if the world economic crisis comes, he has the means to do his best to protect China from too much impact, to protect this family, and to protect the prime, youth, and juvenile children of this big family.

A crisis is a crisis, and a depression is a depression.

As long as the children in China still have books to read, the farmers still have land to plant, even if there are many unemployed people, as long as the political axe can ensure the distribution of relief funds and relief food, it will not matter, and in the end, it will ...... Eventually, everything will be restored.

Although Hu Chuyuan no longer has the right to manage the internal affairs of the country, he is Hu Chuyuan after all, and he is the chairman of the Grand Ducal Party after all.

According to Hu Chuyuan's meaning, the central government has stepped up the construction of a national grain reserve center in China, the country's debts in France and Russia have gradually shrunk, and the country's foreign exchange ratio, the franc, dollar, mark, and ruble have continued to be lowered, and they have begun to choose to increase their holdings of silver at lower prices, and gradually increase the total amount of gold reserves.

The domestic monetary policy began to be conservative, the national currency discount rate increased slightly to 3.32%, and the banks in China were strictly required to start gradually increasing the savings reserve ratio.

In September 1925, the question of the domestic stock exchange center was finally concluded, and the Hong Kong stock market was merged with the Singapore Stock Exchange, which became the Hong Kong Stock Exchange's division and regional trading and clearing center in Southeast Asia.

In the autonomous regions of Maputo and Mata, two new stock exchanges will be set up separately, which will be subject to the Hong Kong Securities and Exchange Authority as a whole.

The Shanghai stock market continues to maintain its position as a relatively stable domestic financial center, restricting the free entry and flow of foreign capital and not listing foreign companies, while the Hong Kong stock market is set up as an international financial center, allowing foreign capital to enter and exit under relatively relaxed regulatory policies, and also allowing foreign companies to be listed.

As the overall financial and economic policies became more conservative, China's economic growth began to decline in 1926, the growth rate of exports to Europe and the United States weakened significantly, and the total import and export volume within Greater China increased.

On March 7, 1926, China promulgated the Unemployment Protection Act and the Social Insurance Law, implementing a comprehensive compulsory system for social insurance, and integrating unemployment insurance and medical insurance into social insurance.

On March 14, under the regulation of the central government, the minimum hourly wage of industry and commerce in the country was increased to 0.22 yuan, and even temporary workers must get a minimum salary of 22 baht per hour, and the country began to ban child labor, and no industry or commerce was allowed to employ young people under the age of 15.

With the implementation of a relatively tough and conservative economic policy in an all-round way, the domestic economic growth rate has further slowed, international capital has obviously flowed to Europe and the United States, and the US stock index and the London stock index have both climbed sharply.

Is there a capital spillover in China?

The answer is yes, the large internal infrastructure and external lending made China have a clear Coolidge effect in 1923, but Hu Chuyuan dispersed the Coolidge effect throughout the colonial system through a new round of large-scale state credit.

With the contraction of domestic financial policy, a large amount of domestic spillover capital has further poured into the Singapore stock market and the international market, which has a significant push effect on the US and London stock indexes.

By the beginning of 1927, the United States surpassed China to become the world's largest creditor country, and China's claims in Britain, France, Russia, Italy, and other countries were basically emptied and recovered, but China's claims against its own colonial system and the economies within the Asian and European Union system continued to grow.

It was during this period that under the stubborn insistence of Hu Chuyuan and Hu Yuanyuan, the Fukang Consortium's bottom-buying investment in the European economy began to withdraw one after another, and in the autumn of 1927, the huge shares held by the Fukang Consortium in the American stock market were gradually cashed out.

With the withdrawal of the Fukang consortium from the U.S. stock market, as well as the intensification of counteroffensive efforts by Morgan, Mellon, Rockefeller, Russell and other U.S. consortia, the control of the Fukang consortium over the American consortia has also weakened again.

Excluding the basically invisible Fukang Consortium, which is hidden behind more than 100 branches, the Swire Consortium is the first consortium in Europe, Asia, Africa and Australia, and the Americas Consortium is the largest consortium in the whole of North and South America.

To control the Americas Consortium is to control the economy of the Americas, and this is a crucial step for the Americans who are pursuing the policy of "America is America" or, to be precise, "America is America, America."

Led by Andrew Mellon, the new leader of the U.S. economy, the four major U.S. conglomerates have all begun to increase their competition for control of the American conglomerates.

In the end, the Fukang Consortium and the four major American consortia reached an agreement that the Anglo-Dutch Fortis Consortium would become the owner of Standard International, and the Wells Fargo Consortium, the Anglo-Dutch Fortis Consortium, and the American Consortium would jointly control the Standard International Group.

In October 1927, the Fukang Consortium transferred 24.57% of the comprehensive shares of the American Consortium to the four major consortia in the United States.

As a result of this transfer, the Fukang Consortium cashed out $7.33 billion from the U.S. capital market, maintaining only 11.03% of the shares in the American Consortium and the privilege of pre-emptive right to purchase shares in Bank of America.

After cashing out, the funds were gradually withdrawn from the United States and exchanged for gold and silver in the international market.

Hu Chuyuan's choice is mainly to increase his holdings of silver assets, especially international silver futures, and his goal is to continue to control the output of silver, using this basis to force silver to increase its value at a high rate during the economic crisis.

There are only two things in this world whose value will not be affected by the financial crisis and even grow in reverse: gold and silver.

With the prosperity of the world economy, the exchange rate of silver fell again, and the exchange rate of gold returned to a low of 24.7:1.

At the same time, China's State-owned Assets Supervision and Administration Commission (SASAC) has also adjusted its investment direction, gradually emptying a large number of stock market and land assets held in the United States, transferring capital to gold and silver, and withdrawing capital back to the domestic and colonial markets.

The BASF consortium under the Fukang consortium shrank back to Switzerland, gradually dispersed its equity in German assets, and replaced Deutsche Bank with UBS as the core bank of the BASF consortium.

In April 1928, the CITIC Consortium, the Anglo-Dutch Fortis Consortium, the Swire Consortium, the BASF Consortium, and the Wells Fargo Consortium under the Fukang Consortium began to implement a comprehensive contraction policy, especially the contraction of the CITIC Consortium and the Anglo-Dutch Fortis Consortium had the greatest impact on the international community.

The CITIC Consortium has 77 banking companies and 14 insurance institutions around the world, especially in the Chinese colonial system and the Asia-Europe Union system, and around the CITIC Corporation, as well as large agricultural cooperatives in more than 40 countries and regions around the world.

The Anglo-Dutch Fortis consortium owns National Westminster Bank, Fortis Bank, Union Bank of Belgium, Credit Save, and Commerzbank.

The contraction of the CITIC consortium and the Anglo-Dutch Fortis consortium quickly produced a greater reaction in the international market and produced quite a conflict in the international financial system.

On May 14, 1928, with the first contraction of the entire Fukang system, the London stock index suddenly fell, the scale was not very large, but it intensified the tension of the capital market.

On May 17, 1928, without warning, all the stocks of the New York Stock Exchange began to sell off in full force, and the stock price plummeted, and the global financial markets fluctuated violently.

In just three days, the total market value of the U.S. stock market fell by 30%, and on May 24, the U.S. stock market sold 17.5 million shares in one day, and the stock market fell further, with the main 50 stocks basically falling to half of their original market value, and more small stocks completely falling below the issue price.

On 29 May, the Bank of Portland in New York and the Fourth National Bank in New York went bankrupt, completely kicking off the tide of bankruptcy in the US financial industry.

The entire financial crisis came a year earlier than Hu Chuyuan expected, and of course, this is inseparable from the contraction of the entire Fukang consortium.

With the world's three major international securities markets – New York, London, and Hong Kong – all falling into a plummet, the entire international financial world has ushered in an unprecedented dark age.

Because of the early adoption of austerity policies, the Fukang consortium and its subsidiaries are relatively stable, at least not bankrupt, but in the global financial market, there are many banks, securities companies, and insurance companies that have failed.

Beginning on May 29, 1928, and by July 10, 1928, more than 60,000 companies and enterprises in the United States had fallen into bankruptcy, and more than 3,000 banks had failed, and many more were about to go bankrupt.

So far, it is China, France and the United Kingdom that are relatively good, and these three countries have a common feature - a large number of colonies, and the huge colonial economy makes the three countries have a greater reading power relative to the international market, and can also produce a good buffer against the international financial turmoil.

Of course, this buffer is relative, and with the bankruptcy of the economies of the United States and Germany, China, Britain and France will also suffer huge implications, especially to major exporters such as China.

Whether it is from a private point of view or a national point of view, Hu Chuyuan knows that at this time he must save the German economy, and he doesn't care about the United States, Britain, France and Russia.

In September 1928, the German Labor Party finally reached more than half of the seats in the National Assembly, and Friedrich Ebert, who was transformed into the ruling coalition of the Labor Party, continued to serve as the prime minister, implemented the economic policy of the Labor Party at home, and reached an agreement with China to borrow 4.2 billion yuan for domestic economic construction.

November 1928. Under the auspices of Hu Weizhong, and especially with the backing of Hu Chuyuan, the National Assembly quickly passed the National Economic Security Act and the 1929 State Budget.

In 1929, the state budget was temporarily increased to 7.24 billion yuan, and large-scale infrastructure construction was re-added, the north-south Wugang railway was started, the railway from Ulan-Ude to Hong Kong was built, and the first bridge across the Yangtze River in China was to be built in Nanjing.

In addition, a second one will be built in Wuhan at the same time.

China has comprehensively promoted the construction of national rural power grids, national urban power grids, high-speed railway electrification, popularization of primary and secondary highways, national urban transformation, national water conservancy regulation and control projects, sand and drought prevention and water conservancy projects in the central and northwest regions, natural gas warming projects in the north, loess plateau control projects, and the large-scale development of the western region.

In addition, a total of 4.4 billion yuan of guaranteed loans will be spent on the entire colonial economy and the economies of the Eurasian Union in two years, so as to stabilize the colonial economy and increase the development of the colonial economy.

In a period of global economic turmoil, the central bank of China has greatly increased the supply of money expenditure, relaxed lending across the country, and fully supported the large-scale construction of the national economy.

Like Germany, Italy, France and other countries, there is another good way to increase spending on the military industry during this period - to increase domestic employment through military orders and related commercial contracts, which will save a large number of enterprises.

In 1929, China's national defense expenditure exceeded 850 million yuan, and the army will initially complete the first large-scale replacement after the end of World War I within five years, and basically gradually use the new weapons developed in the past ten years to the army.

In the new arms purchase contract, there are three aircraft carriers of different types and design ideas with a displacement of 22,000 tons to 28,000 tons.

When it comes to aircraft carriers, the United Kingdom, the United States and France already have one each, and China also has two test ships for different purposes, but at present, they have not invested in key combat forces, but have begun to accelerate personnel training.

In China, the construction of the large agricultural economy has been further accelerated, and greater subsidy terms have been introduced for farmers to purchase agricultural machinery, and the economic policy of rich peasants has been further promoted, requiring the average farmer households to hold more than 30 mu per household.

At the same time, the state has stepped up efforts in the construction of industrial and agricultural water conservancy, with the construction of more than 227 billion cubic meters of new reservoirs and the total length of new canals exceeding 120,000 kilometers, which are expected to be completed within six years.

Among them, the Xin'anjiang Reservoir alone has a volume of 10.3 billion cubic meters, and the Miyun Reservoir also has a volume of 4.3 billion cubic meters.

With the nationwide construction of rural and urban power grids, the installed capacity of thermal and hydroelectric power generation will also increase by 2.7 times in six years.

China is a colonial power and a colonial economic power, and only by ensuring the strength of the entire colonial economy can it quickly shake off the shackles of the entire world economic crisis.

As a result, additional investment in colonial economies has become the most important measure in the new national policy, especially in infrastructure, with 47 per cent in Africa, where the rate of return is significantly higher.

In these areas, the state will increase its holdings of national debt, which will promote large-scale infrastructure construction in these countries to ensure the total volume of China's imports and exports within the colonial system.

(To be continued)