East Africa's latest frenzy of borrowing across the world had indeed created a carnival for capital from every nation. Now was a crucial stage for capital exports by countries everywhere, yet East Africa, this "ten-thousand-year iceberg," had actually thawed!
Thus, vast amounts of hot money swiftly poured into East Africa. As for whether the East African government could repay it, no one doubted it. After all, East Africa was one of the world's few great powers. No matter how much it borrowed, as long as it took things slowly, there would always come a day when it could pay it all back.
This also led to one consequence: between 1911 and 1912, East Africa's unplanned economy rapidly expanded, and a great number of factories sprang up across East Africa for a time.
These factories were basically built under the leadership of private and international capital, growing wild and unchecked. Of course, once the market was opened up, the heavy industry and agriculture controlled by the East African government also came under pressure.
Yet this pressure carried positive significance. The wild growth of light industry greatly drove the development of East African heavy industry and agriculture. After all, light industry originally required heavy industry and agriculture to provide raw materials for production.
For a time, the East African economy developed across the board, brimming with vitality as all things raced to flourish. Naturally, under the New Economic Policy, many problems also emerged, including public security issues and overproduction. However, amid the overall economic upswing, they were all concealed.
Ernst understood this clearly as well. East Africa was now like a person gorging himself on food. If it did not exercise and digest what it had consumed next, it would eventually suffer a backlash. The greatest hope of keeping the East African