Reincarnated as Nikolai II

30 years ago from now.

Britain accounted for 47% of world steel production with about 7 million tons of steel.

They produced 120 million tons of coal annually and that overwhelming production capacity and price competitiveness had the power to make even America, which had sufficient technical capability, import industrial infrastructure and railways.

Britain, possessing iron and coal that form the foundation of modern civilization, didn’t stop there.

With the power of advanced civilization, they produced half the world’s military ships by displacement and expanded their colonial empire faster than anyone.

Hong Kong, Singapore, Malaya, New Zealand, Burma, Ceylon, Egypt, Australia, Canada, Ireland, India - each concession and colony was a pillar of the British Empire.

Would you believe that the British Empire, a single country (including colonies), accounted for one-fourth of the world’s Gross Domestic Product (GDP)?

19% of Earth’s land area.

21% of Earth’s population.

Held by a single country.

Russia couldn’t even dare compare with Britain then. What’s the point of comparing when GDP alone differed over threefold.

Thus 30 years passed.

Population, just counting Europe, is more than Germany, France, and Britain combined.

Oil industry, though still less developed than coal, is overwhelmingly first at 1.2 billion feet (about 19 million tons). America is second and Austria-Hungary Empire third, but the Dual Monarchy is only 5% of total production.

Coal, half the empire’s coal comes from Donbas and this too can be increased as much as desired.

After serfdom’s abolition, mines including coal mines all completely collapsed and took time to recover, but even now we can extract as much as we want if we just input people.

Gold, having bought since father’s time for introducing the gold standard and supporting expanding economy with currency, we have 1.5 billion rubles. World’s first. Financial markets have also developed quite well through French banks.

Steel industry is first in some fields like wrought iron but trending toward steel industry.

Stay connected with empire

Steel is similar to coal. We don’t increase production because consumption is low, not that we can’t increase it.

Agriculture... I really wish it would decrease. This year’s bumper crop made agricultural prices fall again.

Europe’s fertile soil, we don’t even hope for France. If only we could match just half of Germany’s production value per land.

Above all most importantly, this country’s industry is very cheap compared to the British Empire.

Labor costs are cheap, land prices are cheap, and policy finance substitutes for the lacking private investment market.

The Russian Empire possessing all expansion conditions of Britain 30 years ago.

Then what was needed for this country to become the second British Empire?

"Markets, of course."

Domestic market development from industrialization... waiting for that is only possible for the United States where the continent itself is the country.

In the end the catalyst for industrialization is foreign markets, exports.

Here we must not even think about exporting through the Trans-Siberian Railway.

Though railways show the strongest growth, exporting goods by rail from Moscow to Qing? We’re not Britain living by sea routes, that would be madness.

"Nobel-Mazut Company says they’ll establish refining companies in Manchuria."

"Finance?"

"All three major banks - Russo-Asian Bank, St. Petersburg International Bank, Azov-Don Bank - are devoting full effort to entering Qing."

Instead of immediate expansion, establishing branches or subsidiaries in the Far East has proven to be the most strategic and advantageous approach for long-term success. This allows organizations to build a solid foundation while adapting to local market conditions and cultural nuances.

When it comes to banking institutions entering this particular country, it should be viewed as the final phase of market penetration. This critical step marks the culmination of the market development process, signaling that the economic ecosystem has reached a level of maturity and stability necessary for comprehensive financial services.

Just look at the companies under St. Petersburg International Bank’s control through bonds and shares - spread widely across metals, mining, glass, textiles, railways, shipbuilding, salt, tobacco, textiles etc.

How could companies below stay still when banks go open the way?

"Witte, though just on paper, don’t you feel capital’s dynamism? This is all possible because we kept them alive instead of killing during purges."

"...Most wise."

"Your answer lacks soul today."

Did we just keep them alive? Every year we crammed tremendous policy finance into those capitalists’ mouths establishing new banks.

Though sometimes they’re corrupt and selfish, the imperial government raised them with preciously saved tax revenue. No one can deny this.

And now we’re seeing those fruits.

"Still I worry about their harmful effects. Corporate unity led by Prodamet in metal industry, Okean first in steamships, Drozh in urban food. Not just that. Cartels of landowners owning sugar industry, Ropit monopolizing logistics in Azov and Black Seas. They only grew bigger through policy finance but still form cartels and monopolies."

"So, you dislike monopolies and cartels? Should we bring in foreign companies for competition then?"

"You know that’s not what I mean."

Witte has extremely opposed entry of foreign capital and industry. Yet he hates domestic Russian industry’s evils too, so to my eyes he clearly looks like nothing but a born bureaucrat.

However as ruler not bureaucrat, one must think differently.

I put my hand on Witte’s heavy shoulders as he sighed deeply rattling off countless company names.

"Haah, Prime Minister. Don’t worry too much."

"How can I not worry?"

"They’ll all face the blade someday anyway."

"...Absolutely no purges."

I wonder if this is really the same Prime Minister who was just cursing capitalists as he stares into my eyes pleading absolute opposition.

"Who said purges?"

"No nationalization either."

"I wouldn’t do such inefficient things."

We don’t even have talent to use as bureaucrats, what’s the point of increasing state enterprises.

Unless it’s wartime, if I as Tsar did such anti-capitalist things, only after-effects would come to the empire.

"Witte, this country is not Britain, France, or America."

"What do you mean by that..."

"Since this country’s founding, has there ever been a case of the bourgeoisie seizing power?"

Even in the Duma the bourgeoisie are just minor parties with no power.