Around the same time, Franklin. President Roosevelt received from the Treasury a statistical table of the total assets of Chinese companies in the United States, which the Senate requested to determine whether or not the United States passed the American Business Protection Act.

Franklin. Roosevelt was reluctant to do so, and he had some special ties with the Chinese imperial family. Before his death, Roosevelt had suggested that he and his wife travel to China, because his wife was the niece of President Roosevelt Sr., and the Imperial Family had specially received them at the Imperial Palace, and the Inner Court had arranged for them to travel to China.

Prior to that, he had worked as a lawyer for the Chinese community for four years, and many of his early connections were provided by the Vanderbilt family and the Chinese community, and even though he joined a party that the Vanderbilt family and the Chinese community did not like, the Vanderbilt family made a large political donation when he ran for the New York City Senate.

Now he can only sit at his desk in a wheelchair and read the reports submitted by the Ministry of Finance, but he can still remember the surprise he felt when he first met the Emperor Hua when he traveled to China, at that time he never thought that the Emperor Hua was so young, although the Emperor Hua was high and did not have much conversation with him, but the beautiful Empress Shu's understanding of the United States and history still made him deeply admired.

Good things seem to remain in memory forever, and in the face of the outrage at home and the widespread suspicion that China has taken jobs from the United States, Franklin, as president of the United States, has become a good president of the United States. Draenau. President Roosevelt was also deeply troubled.

The second time he met with Hua Huang, and in his capacity as president of the United States, he had confidently promised not to pass the American Corporate Protection Act, and now it seems that he also felt that the promise he made at that time was simple and irrational in the past.

Affected by the possible passage of the "American Enterprise Protection Act," some Chinese capital has begun to withdraw from the US market, and even so, the proportion of Chinese capital in the United States remains high, and there are basically Chinese shares in large listed companies in the United States, while the number of branches of Chinese enterprises in the United States remains at a very high proportion.

In the largest giant enterprise in the United States, General Motors, the overall shareholding ratio of Chinese capital has reached 1/3, and among the top five banking companies in the United States, the average Chinese shareholding ratio is more than 1/3.

There are many voices in American society, however, Franklin. President Roosevelt saw more of a pre-progressive mess, where people were always criticizing that American universities were almost all Chinese, and that one-quarter of all college students in the United States were Chinese students, and those with the best grades were usually Chinese.

In Franklin. In President Roosevelt's view, if it were not for the impact of the Chinese Exclusion Act, even one-third of these international students would remain in the United States to work, they would be a valuable asset to the United States.

Franklin. Roosevelt also knew very well that the reason why people were angry was because of jealousy, and the fear of the Anglo-Saxon race against the yellow race, and that it had become a habit for people to discriminate against the Chinese, so they could not understand why the Chinese could become a world power, even surpassing the United States.

At the time of the election of the President of the United States, Franklin Franklin. Roosevelt was criticized by his party opponents for defending the Chinese on the impact of the Chinese Exclusion Act many times during his tenure as legal counsel for the Chinese community, calling him a puppet of the Chinese devil.

It is for this reason that Franklin. Roosevelt knew that it was best to let the American Enterprise Protection Act pass, but he had to minimize the negative impact of the bill, and it was necessary to restrict and promote American manufacturing, but this restriction should be used more to protect American technology and technology than to exclude investment.

The reason why Chinese capital was seriously problematic during the Great Depression was that on the one hand, the weakening of American capital was too great, on the other hand, the rise of China's industry was too fast, which seriously constrained American industry, and the last aspect was that during the entire Great Depression, Chinese capital did not decrease but increased after 1931, and began to buy more bottoms in the United States.

After reading the truth of the Treasury Department's submission, which will make many Americans feel even more terrifying, Franklin. Roosevelt, on the contrary, felt compelled to declare war on this distorted scapegoat theory, and he decided to open his sixth fireside meeting under the presidency to tell the American people in his own way that the United States should welcome investment from the international community, regardless of the country, as long as it comes from a free, **, and peace-loving country.

Franklin at this time. Roosevelt suddenly felt very regretful, as the leader of the country, he felt that his experience was still insufficient, and on the occasion of the Emperor Hua's personal visit to the United States, he should take advantage of this rare opportunity to continue to promote the development of China and the United States in a better direction with the Emperor, instead of sticking to the atmosphere of public opinion at that time, rather than sticking to the level of the country's total economy.

The United States is destined to be a great country, and this will not change because the United States has re-established itself as the second largest country in the world. Because the opponent that the United States wants to compete with is a country with a population of 475 million and hundreds of universities like the United States, because the opponent that the United States wants to compete with is a modern country that is equally awakened to nationalism and is also known for its freedom and tolerance like the United States, because the opponent that the United States wants to compete with is a nation with a history of 4,000 years of civilization, and they have been ahead of the world for most of the long history.

It is not difficult to understand this truth, but it is the barriers to consciousness caused by ethnography and religion.

Franklin. Roosevelt also regretted that he did not ask more about his experience in governing the country when the Emperor arrived in the United States to meet with him.

But Franklin. Roosevelt still remembers a question, he and the emperor asked why the salary of the Chinese is so low, the answer of the emperor is a question of history, now at least higher than himself, because the development is too fast, if it is necessary to raise the salary of the Chinese to the level of the United States in a few decades, with such a large population size, the financial expansion will be too strong, and the monetary reserve rate will also be seriously insufficient, in short, China tends to be relatively conservative and stable in the ideology of governing the country to avoid encountering accidents, At the same time, when encountering danger, we dare to rely on the power of the political axe to forcibly expand central investment and macroeconomic regulation and control.

Hua Huang personally promised him that if it were not for the impact of the Great Depression, the minimum wage of Chinese would have been gradually increased by about 50 percent in the past five years, and now it would have to wait for the world economy to recover before it could continue to increase slowly.

Overall, the likely growth of the Chinese yuan exchange rate will not be too large, but the growth of labor costs will remain at about 7% per year, and in ten years, the gap between labor costs between China and the United States will be narrowed to 30%, and the actual impact will be smaller.

Franklin. Roosevelt just didn't know if he could wait for ten years, and it was difficult for him to make an accurate estimate of how far the gap between the Chinese and American economies would widen in that decade.

As far as the United States is concerned, the only way is to maintain the current level of tariffs, sign a new trade treaty with China, continue to encourage the influx of foreign capital, and use the power of the American market itself to leverage the development of the American economy.

Of course.

The American Corporate Protection Act is still manageable, Franklin. Roosevelt was well aware of his authority as president of the United States, and he could veto the passage of this bill and order Congress to readjust the rules and wording of the bill to make it more in line with the long-term interests of the United States.

China is taking advantage of the U.S. recession to significantly occupy the American market, by spending large amounts of political axes and bank credit to countries such as Brazil, Mexico, and Argentina to support these countries through the crisis of the Great Depression, while expanding investment and influence in these countries, and by signing bilateral reciprocal trade treaties to expand the export of Chinese goods and capital to these regions.

Franklin. Roosevelt knew very well that he could restrict the influx of Chinese goods into the American market through tariff adjustments, but he could not restrict the influx of Chinese goods to other countries in the world, even if Britain and France were helpless about it, but there was a very important complementarity between Britain and France and the Chinese economy, that is, international investment.

It was the influx of international capital into China on a larger scale, and even the influx of American capital into China during the Great Depression, and the fact that it brought more technology and talent, enabled China to grow remarkably during the Great Depression.

After much deliberation, Franklin. Roosevelt felt compelled to write a letter to the Emperor himself, and to send it to the Emperor by telegram, asking him questions that were inconvenient to ask publicly in a face-to-face meeting.

What would he do if the other party was the president of the United States?

It was with this question in mind that Franklin. Roosevelt gave the Beo in his private capacity. Vladimir. His Majesty the Emperor of Song wrote a letter asking some very special questions, and the wording was earnest.

After so many years, His Majesty's English and Russian names are still the same as the former "Beo. Vladimir. Song", and there is indeed no need to make any changes and corrections.

Because it was by telegram, when Emperor Song received this special personal letter, he happened to be at the Far East Hotel in Aurora Mansion, and after inspecting the Jinzhou Shipyard, he went to the Far East Shipbuilding Industry Design Institute, where he visited the design of new battleships and cruisers.

Emperor ship manufacturing industry in the great powers is a rising star, but in the world quite distinctive, in the overall style, the emperor ship manufacturing is more like Germany, which is also and Sino-German technical exchanges and learning in the past few decades has an important relationship, but the German Navy is facing a completely different combat environment with the Empire, compared to the German ship, the Empire is more focused on maneuverability and airworthiness, in the focus on defense and airworthiness of the two basic principles, the Emperor ship in the firepower must be conservative.

Especially after 1928, as the Empire completely formulated the center of the Navy as an aircraft carrier, and spent a lot of research, testing and scientific and technological development for it, the Empire focused more on the use of space in the design and manufacture of battleships, reducing the main guns, increasing the arrangement of anti-aircraft guns, increasing radar and electronic systems, and increasing the surname capacity and cabin space of carrier-based seaplanes.

In the design of cruisers, the empire takes two lines, one main direction is as an escort formation of aircraft carriers, in this direction, cruisers are more focused on comprehensive surname and air defense, anti-submarine, especially in the field of anti-aircraft guns, an escort cruiser of the empire usually has 30, 75, 105, 125 four kinds of anti-aircraft guns, some may also be equipped with special caliber Sino-German joint development of 88mm \ 120mm anti-aircraft guns, in 30mm anti-aircraft guns, the empire has a single barrel, There are three different series of double-barreled and six-barreled wheeled high-velocity guns.

The cruiser in this direction belongs to the special escort cruiser, and the other direction is the conventional cruiser, usually called the armored cruiser, which is characterized by thicker defensive armor, the speed requirement is not as high as the escort cruiser, the maximum speed is generally between 30 and 32 knots, and the maximum speed of the escort cruiser is generally higher than 32 knots.

Although there are also Changchun-class cruisers with high defensive effectiveness of escort cruisers, they are still referred to as escort cruisers, rather than armored cruisers such as Fushun-class and Xilingol-class.

Compared with battleships and high-speed battleships, because the tonnage is limited to less than 10,000 tons and the main gun is less than 8 inches, its cost is generally only 1/10 of the Aurora-class battleship, or even 1/30 of the Yuzhou-class battleship, and it can assume the role of the capital ship in most sea conditions and situations.

Whether it is an 8-inch gun or a 6-inch gun, the cruiser's main gun usually cannot directly penetrate the armor of the opponent's ship, but mainly relies on a faster rate of fire to determine the record, so from 1928 onwards, the imperial armored cruiser basically only adopted 6-inch main gun, but in the past two years, considering the special combat value of the armored cruiser, it has also restored the cruiser design standards before the battle cruiser, and adopted a triple or twin 8-inch main gun as the bow gun on the armored cruiser.

The Harbin-class cruiser is the latest escort cruiser of the empire, due to the excellent surname of the 88mm anti-aircraft gun, this class of cruisers uses a large number of 88mm anti-aircraft guns to replace the original Sino-French joint development of 75mm anti-aircraft guns, and the anti-aircraft artillery system is reduced to 30mm\88mm\120mm three levels, equipped with five twin 152mm main guns, can carry two water reconnaissance aircraft.

Because it is an escort cruiser in the aircraft carrier formation, the number of water reconnaissance aircraft is not required to be very large, two is enough, but it requires higher anti-submarine and air defense capabilities, especially in anti-aircraft firepower, after all, the Harbin-class cruiser is a large ship with a displacement of 10,000 tons, and its 8 120mm anti-aircraft guns and 14 88mm anti-aircraft guns, as well as two types of 30mm high-speed guns The air defense network firepower is extremely powerful, which is equivalent to a battleship with a displacement of 30,000 tons.

As a price, the number of main guns of the Harbin-class light cruisers was far inferior to the top-class light cruisers built during the same period, and both basically belonged to the same breach of contract, that is, cruisers whose standard displacement actually exceeded the limit of 10,000 tons, and the declared displacement of the Harbin-class light cruisers was 9,700 tons, but in fact it was about 11,400 tons, which was almost the same as the standard displacement of the most advanced light cruisers under construction.

In order to prevent China from withdrawing from the "Washington Naval Treaty" because of this kind of competition, Britain and the United States limited this to no more than 12,000 tons, which is not considered a serious violation, and for this reason they jointly sent military attachés to negotiate with China in private, while Britain, the United States, France, and Italy still abide by the treaty.

In fact, there are more than 12,000 tons of heavy cruisers in China, ostensibly heavy cruisers, and they can be immediately transformed into light-class pocket battleships when they change their main guns.

In short, the Harbin-class cruiser under construction is a model representative of the imperial escort cruiser, and also represents a special style in the manufacture of the emperor [***] ship, compared with the most superior, the main gun firepower is reduced, the armor defense effect is slightly better, and the power system is stronger, while the anti-aircraft fire does not belong to the ships of the same class at all.

Unlike the Harbin cruisers, another class of armored cruisers under design is the Luoyang-class cruisers, which are the latest models of armored cruisers, with a standard displacement limited to less than 11,000 tons, and are expected to be equipped with two triple 280mm main guns, four 152mm (6 in) twin secondary guns, four 120mm anti-aircraft guns, and eight 88mm anti-aircraft guns.

Due to the serious violation of the restrictions of the [***] Shengton Naval Treaty, the Luoyang-class armored cruiser was finally to begin construction in the second half of 1935 and enter service in the second half of 1936.

The Luoyang-class cruiser represents another extreme direction of the imperial armored cruiser, that is, as the central force of the small fleet, it undertakes the tasks of battleships on a larger scale, and is equipped with high-level and high-power large shipborne radars, and has the ability to command surrounding aircraft, submarines, and ships to cooperate in combat, and at the same time can make up for the shortcomings of early battleships in radar and air defense systems.

According to the current secret plan of the empire, starting in 1936, the Luoyang-class cruisers will suddenly expand to more than 10 ships, in addition to equipping their own navy, they will also be used as the main flagship of other small and medium-sized allies, sharing the naval combat pressure of the imperial navy in the entire Asian League.

After 1928, the Imperial Navy gradually showed a completely different direction from the development of the world's navy, and this way is based on the naval aircraft carrier centrism, in the long-term planning of the Imperial Navy, the aircraft carrier formation will become the core and main force of the Imperial Navy, and the battleships must also be included in the aircraft carrier operation, and in a wide range of naval operations, the armored cruisers will be mainly sent to replace the battleships to fight, or the armored cruisers will cooperate with the battleships to fight, and a complete aircraft carrier formation will be composed of aircraft carriers, escort carriers, battleships, Armored cruisers, escort cruisers, and destroyers are composed together, and escort carriers, escort cruisers, and destroyers form the core formation of the aircraft carrier fleet, and battleships and armored cruisers operate on the periphery as detachments.

At this point, the formation of the imperial navy was already directly towards the goal of surpassing Britain and the United States and becoming the new hegemon of the world's oceans in the wave of revolution of the world navy.

For this majestic goal, the empire and navy have devoted a full thirty years of hard work to this end, taking a small step forward every year, accumulating strength and capital step by step.

It is precisely for this reason that the Imperial Navy does not want to have a direct war with the navy of any enemy country at this stage, at most it is only a small-scale naval conflict, so as not to expose the overall reform idea of the Imperial Navy, so that the Imperial Navy can completely complete this great historical change.

There is bound to be the possibility of failure in the reform, but in order to become the real world maritime hegemon, both the empire and the imperial navy must take risks for this, and the empire does have this capital risk, if the imperial navy takes the wrong path, the future is still the era of battleships, with the empire's level and experience in battleship manufacturing, as well as the overall strength of the huge empire's finances, shipbuilding and heavy industry, even if it goes the wrong way, it will only take four or five years to complete a comprehensive transformation.

Therefore, the real great power is "to win, to lose".

(To be continued)