Chapter 1439 - 15: Economic Winter_3

Chapter 1439: Chapter 15: Economic Winter_3

Thinking of this, Ernst said, "Under the dual impact of the pandemic and economic crisis, the current world situation will temporarily freeze for a period of time. We must also quickly promote industrial structure upgrades and high-quality economic development."

Now, due to the European flu, countries around the world are struggling to help themselves, naturally leaving them no time to bother other nations, and this includes imperialist countries and Russia.

"Regarding the European flu, before the end of this year, we must strictly limit its further deterioration and development, and get through its most severe phase."

"By next year, regardless of circumstances, we must fully exert efforts in the economic field, as the Five-Year Plan has already been hindered and cannot remain stagnant."

East Africa’s fifth Five-Year Plan is facing the worst possible timing due to the impact of the European flu, causing government policies, projects, and efforts to proceed very sluggishly.

This has made Ernst feel quite anxious, although the European flu is a crisis, it could also be an opportunity for some countries to overtake others or widen gaps.

At this point, it’s about comparing disadvantages. The country least affected by the European flu will develop faster than others. Among the world’s major powers, East Africa’s situation is much better than most.

"We don’t know whether the global economic slump caused by the pandemic will end after the pandemic finishes, so we need to prepare psychologically."

In the past life, the Spanish flu, despite its negative impact on the world economy, also brought nearly a decade of post-war economic prosperity to Europe and America.

Thus, Ernst hopes the impact of the European flu will be no greater than that of the Spanish flu from the past life.

This way, once East Africa completes its industrial upgrade, it can hitch a ride on the rapid development of the world economy, re-entering a phase of high-speed development."

In a vast and late-developing nation like East Africa, after achieving preliminary industrialization, every further step becomes very difficult.

Therefore, the East African Government naturally does not wish for the world economy to enter a long-term recession, which would be detrimental to further advancements of East African economy.

The same was true in the past life for the Far East Empire, which, after experiencing prolonged high-speed economic growth, became the nation most hoping for a recovery in the global economy, especially during its economic transition phase. It’s like facing a challenge: succeeding leads to clear skies and endless possibilities, while failing could lead to a stagnation similar to that of past economic star nations in Southeast Asia and South America.

If East Africa cannot successfully navigate the economic field, then it might have to resort to military endeavors, similar to Germany’s action of flipping the table.

Of course, what Ernst hopes to see most is East Africa making breakthroughs in every field, thus firmly securing its achievements and harvest.

So Ernst said, "Though the Five-Year Plan has been affected by pandemic and economic crisis, it is also an opportunity for the Empire. We must perform better than other countries to emerge first from the pandemic and the economic crisis."

"In the upcoming six months, led by the government, further strengthen the implementation of epidemic prevention work, ensuring the operation of social production and life to the greatest extent, and halting the decline in economic development as much as possible within one or two years."

"Meanwhile, closely monitor developments in Europe and America, especially changes in Eastern Europe, as I believe that Eastern Europe may encounter some issues in the near future."

Regarding the last point, Ernst was undoubtedly referring to Russia. It should be noted, the Russian Labor Party has stabilized the domestic situation earlier than historically, while before it ceded significant benefits to the Allies. In the past life, due to the Allies’ defeat, Russia easily recouped its losses. Obviously, the Russian Labor Party in this timeline will not easily give up, but it’s uncertain what actions the Russian Labor Party will specifically take.