Currency War

Arthur had not basked in the achievements of the transport aircraft improvements for long when big news exploded across Europe.

Actually, this news had been anticipated. Ever since the economic crisis began, numerous countries—including Britain, America, Germany, Italy, Austria, the island nation, and France—had suffered fairly severe financial losses. Apart from the exceptional case of Australasia, France had in fact been affected the least by the economic crisis.

That seemed rather strange. After all, France could only be considered an upper-middle-tier great power in terms of population and economic scale. Why had it not been deeply affected by the economic crisis?

Most of the credit went to France's large-scale currency devaluation strategy.

First, currency devaluation would wildly stimulate exports, continuously create more jobs, raise people's consumption levels, and thereby stimulate the growth of domestic demand.

Second, the continual devaluation of the currency would also cause prices to keep rising, which in turn would cause the stock market to keep falling.

This meant that even before the economic crisis erupted, the Paris stock market had already fallen into a slump. That was the true reason the French people had not been affected very much.

After all, the stock market had already dropped to a fairly low level. How much farther could it fall?

Because of the currency's devaluation, domestic demand in France kept increasing. As a result, France's overproduction was not as severe, which was also an important reason it avoided the economic crisis.

What made the other countries even more envious was that France's unemployed population kept decreasing, stabilizing at the lowest level among the great powers—second only to Australasia.

That was what attracted the other countries most. After all, the thing currently causing chaos in various nations was precisely their enormous unemployed populations.

If America had not had tens