Time flew by, and before anyone knew it, 1927 had reached its end.
For the people of Europe, this had been a good year. The world economy was flourishing, and with the dissolution of the Russian Empire, the shadow that had once loomed over Europe was gone. World peace had taken another step forward.
In 1927, the global economy grew by 5 percentage points. Of course, that was an averaged figure!
This age of great economic prosperity was chiefly driven by booming economies in Europe and America, along with decent development in parts of Asia. It had nothing whatsoever to do with the backward non-colonial regions.
Among them, the economies of the United Kingdom, France, Bulgaria, Germany, and Austria developed the fastest, and the total world economy soared along with them.
Together, these five major economies accounted for 72 percent of the world's total economic output. It could be said that when these countries prospered, the world economy prospered.
If GDP were counted, the growth rates of this era would be utterly jaw-dropping. London's GDP growth rate that year exceeded 30 percent.
In reality, it held little practical meaning. A few more housing developments had gone up, property prices had shot up another huge stretch, and London's total economic output had been inflated.
Driven by the real estate boom, the wages of British construction workers surged by 20 percent that year, as though the best of all times had arrived.
Thanks to rapid economic growth, even though the situation in Southeast Asia had yet to improve, the British public did not force the Stanley Baldwin Cabinet from office. After all, capable hands at developing the economy were hard to find!
It was not just the United Kingdom. Real estate throughout Europe was developing at a furious pace. Property prices in