“Winter is coming.”
Minister Wang said this to the assembled personnel of the Ministry of Commerce, his face dark.
“Though, perhaps it might be spring?”
Those who understood what he meant began to chuckle.
The free world was collapsing. And for a reason no one had expected.
“Chief Deng, give us the report.”
“Yes. It appears the White House will push ahead with ‘that promise.’ Our basic tariff of 25%, plus an additional 10% tariff, plus the 25% fentanyl tariff, will likely come to a total of 55%.”
“Has that man still not escaped his delusions? Every drug problem in America is because of our fentanyl?”
“Yes. The recent tariffs imposed on Canada and Mexico were also justified on the grounds that they are import routes for fentanyl.”
“How curious. Then why does Canada have fewer fentanyl addicts than America? And if we are a drug production base, why are Korea and Japan, the closest countries to us, perfectly fine?”
Everyone let out mocking laughs.
In truth, America was fundamentally a country whose drug policy had failed.
Even before fentanyl existed, America had been a paradise for drugs. Of course, it was vulnerable to smuggling because of the Mexican cartels, but even taking various reasons into account, America’s overwhelmingly high drug rate could not be explained.
“In truth, America’s drug excuse is probably just a pretext. They need a suitable justification to slap tariffs on us, and I believe they think drugs will serve that purpose.”
“Are they intending to redirect domestic discontent outward again? Tsk, tsk. So what is our response?”
“We are preparing retaliatory tariffs of up to nearly 100%. According to the Ministry of Commerce’s own calculations, if a tariff war breaks out, we are not particularly at a disadvantage.”
“I see. Then we’ll be fine, so shall we talk about our neighbors?”
Minister Wang smiled broadly.
Tariffs were devastating if you were hit by them alone, but if every country was hit together, there was no damage at all.
“Japan was the first batter in East Asia and got slammed with outrageous tariffs, didn’t it? I hear the Japanese prime minister has been furious lately because of that.”
“Yes, that is correct. They recently held an early general election, and their prime minister made remarks that were practically anti-American. And yet he did not receive much criticism from the public. It seems Japanese public sentiment is also somewhat sympathetic to anti-Americanism.”
“What a pity. If they were going to suffer such humiliation from America, they should simply have reached out to us. At the very least, we would not have demanded 500 billion dollars in investment in China.”
“As it happens, I have something to report regarding that. Recently, Japan’s Ministry of Foreign Affairs and Ministry of Industry discreetly sounded us out. Because they are wary of America, they cannot openly draw closer, but it seems they want to expand trade with us.”
“They want to sell to China what they can’t sell to America? Hahaha.”
As Minister Wang burst into laughter, one man raised his hand.
“Minister, in fact, Korea has also been sounding us out in a similar way.”
“Korea?”
“Yes. They are currently conducting negotiations with the United States as well, but after seeing Japan’s report card, they seem to have given up on the outcome. Most economic experts predict Korea will end up much like Japan.”
The Korean government’s trade negotiations were pitiful enough to bring tears.
They began mobilizing every unofficial and official diplomatic channel to contact China’s Ministry of Commerce, but it did not seem likely that they would obediently sign away everything as Japan had.
“What are they thinking? Korea and Japan compete in the American market, so even a one or two percent difference in tariffs should matter to them.”
“Exactly. But one thing is certain: no matter how we look at it, they do not seem likely to go along quietly.”
What on earth was it?
If Korea failed to defend itself against tariffs at a level similar to Japan, the blow to Korean industry would be immense.
“I see. Our neighbors must be very troubled.”
“What shall we do?”
“Treat them with an open mind. Donald’s rule is a once-in-a-lifetime opportunity for us. Let us take this chance to improve our popularity with our neighboring countries.”
Indeed, China’s recent diplomatic stance had changed completely from before.
It had drawn close to India, with whom it had long-standing resentment from repeated border disputes, and had practically become a godfather to Russia. The previously loose BRICS alliance had recently become much more solid.
All of this could only be described as an opportunity bestowed by heaven.
Through a long war of attrition, Russia had been completely leashed by China, and India... had suddenly been hit by American tariffs of several dozen percent and drifted far away. Thanks to that, East Asian and European countries, fellow victims of similar treatment, had recently begun showing goodwill toward China.
“Good. That is enough worrying about our neighbors. What about our own industries? If we impose retaliatory tariffs, America won’t just sit still. Retaliation, then retaliation against retaliation, then retaliatory tariffs again... Do we really have a chance of winning this?”
Chief Deng gave a weak chuckle.
“Minister. There should not be any major problem for domestic industry.”
“How can you be sure?”
“From what we have confirmed through various channels, it seems America will not pull out the Apple factory.”
The Ministry of Commerce personnel chuckled.
In truth, the ones hurt most by Donald’s tariff bombing were, ironically, his own country’s companies.
At present, the Foxconn factory in Zhengzhou had 200,000 workers assembling Apple phones in two shifts. If that were moved to America, the only thing left would be for Apple phones to cost ten million won.
That was because America’s minimum wage was about ten times China’s, and the only American workers capable of enduring two shifts were Tesla’s humanoids.
“Hahaha. As expected, he is a blusterer.”
For that reason, while the White House shouted about reviving manufacturing, it was quite lukewarm about relocating Apple’s factory.
What a truly strange man. Why did he not take back the 200,000 jobs he had entrusted to China? If he moved just that to America, manufacturing jobs would overflow...
“What America wants right now is for its allies to build factories on American soil.”
“What a bizarre calculation. In any case, their own companies are exceptions?”
“Yes, that is correct.”
When the Nasdaq fell by a mere 20%, the White House changed its position in just five days.
But building an Apple factory in America would be no different from delisting the company called Apple from the Nasdaq.
It was very clear who would win and who would lose.
“Good, then.”
Minister Wang rose from his seat.
“From now on, focus more on the movements of allied countries than on America. Those dissatisfied with the tariffs? There will be more than one or two of them. And they will need to find somewhere to sell the goods they cannot sell to America.”
“Yes, sir.”
Minister Wang clenched his fist.
“Now is the era of China!”
*
China’s Russian Autonomous Region, Moscow Province
“Welcome, Representative Ming!”
When Representative Ming Wei arrived at the meeting place, Vice Minister Nikolai bowed his head repeatedly and welcomed him warmly.
Vice Minister Nikolai, a senior official in the Russian Ministry of Finance, had recently been assigned to a task force devoted to begging. His main role was selling Russian bonds while avoiding Western financial sanctions, and thankfully, China always absorbed that supply.
Of course, they would not repay them. It was already not a deficit they could repay.
For that reason, not even the Russian people were buying these war bonds, but thankfully, a Chinese investment firm had expressed an intention to purchase them, so there was no way he could fail to run out barefoot to greet them.
“Have you been well?”
“Thanks to you, Representative Ming!”
Nikolai barely managed to restrain his twitching rear.
A full 22 billion dollars. The Chinese investment firm had announced that it would purchase 22 billion dollars’ worth—thirty trillion won—of Russian bonds, which could only become scraps of paper once the war ended.
“Rather than stand here like this, I would like to treat you to a meal somewhere nice.”
“That is all right. My schedule does not allow me to stay long.”
“Ah, I see.”
“You must be busy as well, Vice Minister, so I would like to get straight to the point.”
“Yes, yes.”
As soon as Representative Ming sat down, he handed over the documents.
“This is the letter of intent to purchase the bonds that I mentioned last time. As promised, 22 billion dollars. If both sides reach an agreement today, we will deposit the funds within three months.”
“C-conversion is not necessary. Could you give it to us in dollars?”
“Would dollars be more convenient?”
“Yes... We have many urgent bills to settle here and there.”
Recently, Russia’s finances had been deteriorating day by day.
After the Russo-Ukrainian War began, Russia had issued tens of trillions’ worth of bonds at 20% interest, but repaying the principal was a distant dream, and at present it was all they could do just to pay the interest.
“If you have that many bills, will you be able to repay the principal?”
“I promise you. We will absolutely repay it!”
It was a lie.
According to calculations by the Russian Ministry of Finance, they would not be able to repay not only the bonds borrowed from China, but even the pensions owed to Russian soldiers killed in action.
Once the war ended, they would have to declare bankruptcy again. Just like in the Soviet days.
“Very well. Then we will give it to you that way.”
But this Chinese investor was persuaded very easily.
How had he founded an investment company with such a dull sense of money?
“Thank you. The Russian Ministry of Finance is especially grateful for China’s consideration. Once the war is settled, we will never forget this kindness.”
“The money being given today is not the money of the Chinese authorities.”
“...Pardon?”
“Vice Minister Nikolai, may I ask you for one favor in exchange for today’s bond purchase?”
Nikolai gulped. The words were a request, but his tone was practically an order.
“Please say it.”
“The owner of the money being given today is a Korean client. That person instructed me to purchase 22 billion dollars in bonds.”
“K-Korea?”
“Yes. In return, he said he had one request.”
Representative Ming held out a document.
“He wants to resume trade with Russia. But because of Western sanctions, that is not easy. So he would like to conduct transit trade through Kyrgyzstan. What do you think?”
“Transit trade through Kyrgyzstan is... already being carried out quietly, is it not?”
“Yes. What the Korean client wants is exclusivity. At present, many companies are conducting indirect trade with Russia through Kyrgyzstan, but he would like the Russian government to grant Korean companies somewhat more special benefits.”
“...You mean you want us to accommodate certain companies?”
“That is correct. Since products made in Korea are not significantly inferior in terms of function or price, it should not be a major burden for the Russian government. I am speaking only of industrial goods like automobiles, not products such as food.”
“But that is...”
Representative Ming nodded and took another document from his bag.
“If you accept our client’s request, we will invest this additional amount by sometime next year.”
“T-thirty billion dollars? You are giving us 20 billion dollars now, and next year you will buy more bonds?”
“Of course. What do you think?”
“...Just who is this person? Judging by the request regarding trade, it does not seem like an individual investor.”
“He was someone from NPS. Of course, I do not know whether that was a request from the Korean government or not, but in any case, his identity is reliable.”
Representative Ming pushed the pen forward along with the documents.
“What do you think? Are you willing to accept this proposal?”