Chapter 215
Chapter 215
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Translator: crow
Chapter Title: The Rise of the EA
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Korea's announcement of monetary unification sent shockwaves around the world.
Europe, in particular, was hit hard.
Already feeling crushed under the weight of Korea's rise, the thought of that mass exploding in size left everyone breathless.
"If things keep going like this, we'll end up as powerless weaklings who can't even raise our voices."
The Europeans expressed a profound sense of crisis.
With the US and the Soviet Union not enough, if Korea rose to superpower status too, they'd have three overlords hanging over their heads.
In that scenario, could Europe still be called one of the world's major regions?
'No way.'
Europe hurriedly pushed forward with the EEC, the European Economic Community.
In the original timeline, it had formed in 1957, but delays from nuclear war threats and such meant it hadn't even broken ground in this world.
"If Europe unites as one, we'll be able to speak with our own voice."
To make this vision a reality, de Gaulle first extended a hand to the Benelux countries.
"If we're outclassed in weight, we'll all go down together, so let's cooperate."
The Netherlands, Belgium, and Luxembourg jumped on board France's proposal in a hurry, securing a safety net.
Next up was Italy.
"This won't get us on America's bad side for meddling in something we shouldn't, right?"
"Oh, no need to worry."
Italy climbed aboard the EEC under France's lead.
France then made a proposal to Germany.
They were militaristic remnants de Gaulle wouldn't normally give the time of day to, but excluding Germany wasn't an option if they wanted to build up their weight class.
"A united Europe? What do we gain from joining that?"
"Oh, if we become one family, we could show some consideration on the reparations issue."
"Is that so?"
In truth, Germany had thought of this the moment they heard about the EEC.
'This is basically an expanded German Customs Union—the economic foundation that led to the unification of the German Empire.'
If so, Germany had no reason to refuse.
'Just like Prussia devoured the Customs Union whole, if we swallow up the EEC through sheer weight, Europe becomes Greater Germany. Growing like that doesn't sound bad at all.'
Manstein and the Junkers joined the EEC with these ulterior motives in mind.
With Germany's entry, Europe finally took on the shape of a proper economic alliance.
Now, the EEC had enough weight to stand up to Korea.
Of course, Europe thought this wasn't enough.
The EEC wanted to bulk up even more.
"We let in militaristic Germans, so what's the reason we can't take fascist bastards?"
Franco and Salazar, who hadn't even sniffed an economic alliance in the original timeline, reaped the benefits.
"Not only the reds, but Korea's handing out favors too. We really were born lucky."
Franco and Salazar caught the last ride on the EEC train.
With that, Western Europe succeeded in fully uniting as one team.
"A united Europe won't yield to any great power!"
As Europe, pushed to the world's periphery after World War II, roared back to life, everyone flinched for a moment.
"Whoa, the old European powers that once vied for world hegemony teaming up? That's gonna be a real powerhouse."
They roared with such momentum, but Europe rising as the fourth great power was impossible.
For starters, they didn't even know who the leader was.
"The EEC was led by us, France. So we should be the boss."
"You have to look at the weight class. Germany has the weight to be boss."
"Let's just go with majority vote."
Without a dominant country leading the economic alliance, the EEC took forever to get anything done.
Even without that, the EEC had plenty of problems.
For one, it was just an economic alliance, not a tight political or military one.
As a result, security issues got dragged along by the Anglo-Americans, and politically, everyone played separately.
"Sheesh, and they call themselves the fourth superpower like that."
Compared to Korea's EA, the EEC was a hollow shell.
In the end, Europe's fuss only solidified Korea's position as it built the third bloc.
"Compared to Europe's bluffing, Korea becoming a superpower is basically a done deal, right?"
Contrary to what people thought, Korea had already risen to near-superpower status.
What Korea lacked compared to the Soviet Union was just two things: military power and ideology.
Strip those away, and Korea was on equal footing with the Soviets.
Washington's leadership seriously pondered Korea's meteoric rise triggered by the EA's monetary unification.
Moscow was too focused on competing with America to care much if Korea overtook them or not, but Washington still had bandwidth to keep an eye on Korea.
"If Korea's economic growth continues like this, these are the projected outcomes."
Goldwater sat among his staff, watching the forecasts presented by the economics professors.
"Starting from 1963 as a baseline, Korea surges to the world's second-largest economy, surpassing the Soviet Union on its own weight alone. The timeline could shift forward a few months, but that's the conservative estimate."
The CIA, IMF, and World Bank had all presented similar projections, so Goldwater wasn't surprised.
Among those in the know, Korea overtaking the Soviets was already accepted as fact.
"However, including the EA's economic sphere, Korea has already surpassed the Soviet Union at this moment. In real terms, Korea is already the world's second-largest economy."
World number two.
Economic power meant potential power too.
"Then Korea has overtaken the reds to become our most formidable rival."
"Yes, sir."
"Continue with your report."
"Yes. The most alarming indicator right now is the trajectory of Korea's economic growth rate. Even at this point with its massive economy, Korea is sustaining high growth around 10%."
"10%? This year too?"
"Our prediction is that it will maintain that growth curve for the next five years or so."
The professors laid out various metrics and ultimately projected that the EA's economic sphere would surpass America's by 1980.
Murmurs rippled through the staff at those words.
Even if it wasn't Korea alone, a Korea-led economic alliance overtaking America?
"Does that even make sense?"
"Korea getting that big?"
It was shocking.
"1980 is still 22 years away. Who knows what could happen by then?"
As Goldwater said, the future couldn't be predicted yet.
Whether Lee Seong-jun, who had led the current prosperity, would still be steering Korea then was anyone's guess.
"You're right. We're just extrapolating from the data."
In truth, Goldwater was a bit startled by the professors' prediction, though he didn't show it.
"So, what measures should we take to prepare for Korea overtaking us?"
"First, we need to start checking Korean goods. On the tech side, we have to block our technology from flowing to Pyongyang as much as possible. If we let Korea grow smoothly like this, we'll never get another chance to check them."
"Checking Korea at this point. Is that feasible?"
Goldwater looked around at his staff, and most shook their heads.
"We can't do it now. If we openly check Korea, who knows what Pyongyang might do. They could ignore COCOM restrictions and export semiconductors to the Soviets. Provoking the Koreans would be trouble."
Regrettably, Korea held plenty of retaliation cards the moment America tried to check them.
At least while in extreme confrontation with the Soviets, they couldn't afford friction with Korea.
The rule in a fight was to beat one opponent at a time.
Beat this one, then that one, and you might run out of steam first.
"The professors say we must check Korea, and you say we can't. Which tune should I dance to?"
National security advisor Gordon Gray spoke up as the representative.
"It's true we need to check them, but timing-wise, not now."
"Not now. Wait until we reconcile with the Soviets?"
"If we have to pick a time, yes."
"Then we'll have to wait a few years."
Goldwater had no intention of giving up the current US-Soviet standoff easily.
Korea was a strong competitor?
Sure, but Korea was a rational partner in the capitalist camp.
The reds, on the other hand, were ideological opposites with whom coexistence was impossible.
If the reds were rational, they wouldn't stockpile 100,000 tanks to threaten Europe.
The president's advisory meeting ended without substance.
But the perceptions among America's top brass had definitely shifted.
'Korea really has become a threatening nation. Reaching the weight class to seriously challenge for hegemony.'
So, once the Soviets were pushed back, the next target was definitely Korea.
Everyone, doves and hawks alike, agreed on that proposition.
'No nation challenging the hegemony of the United States will be tolerated. Whether it's a red or a capitalist country.'
From the moment they formed the EA and showed their potential—no, from the instant Korea stepped toward world number two—America could no longer tolerate its growth.
No hegemon in history had ever been lenient with challengers.