Chapter 464 Three Major Rating Agencies
When Mirabeau saw different types of industrial data appearing on the same chart this year, clearly showing the changing trends, his eyes suddenly lit up.
"Your Highness, how did you come up with this method? It's so amazing!" He turned over the different statistical charts one by one and couldn't put it down. "God is so partial to you! Look at these charts, you just need to You can find out the industry situation last year in a few minutes.”
And he just explained for nearly an hour.
These charts increase productivity to an astonishing degree.
He immediately thought of more applications and said excitedly: "Perhaps, we can extend this data statistics method to factory production and administrative management."
Bai added: "There is also scientific research. This can make the paper clearer and easier to read."
"Yes, it is definitely a great innovation!" Mirabeau looked at Joseph, "Your Highness, I dare to say that if government departments and factory managers use this kind of chart to process documents, the efficiency of the entire country will be greatly improved. improve.
“I suggest that it should be promoted across the country as soon as possible, and even be mandated by government documents.”
Joseph was a little confused by what they said. He originally just wanted to make Mirabeau's report more concise and efficient, but he didn't expect it to have such a big impact.
He patted his forehead. He was used to seeing statistical charts before, so he subconsciously felt that this thing was nothing. Mirabeau was right, this little technique can greatly improve management efficiency, almost equivalent to Excel in the 18th century.
Joseph then nodded to Mirabeau and said: "Well, please organize some scholars to help me compile the chart statistics method into a manual and print it in large quantities. As for how to teach it to managers..."
Mirabeau immediately responded: "Your Highness, we can incorporate this statistical method into the production standardization system, and Mr. Jeansonnet's management consulting company will be responsible for teaching it."
Joseph nodded. These seemingly simple things in later generations really had to be promoted by professional companies in the 18th century. Just like at the beginning of the 21st century, you had to take a training class to learn how to create Excel tables.
Speaking of the production standardization system, Joseph couldn't help but think of another issue. Factories that adopt standardized production models should be rewarded. After all, they have contributed to the improvement of the country's overall productivity.
He first thought of tax cuts, but soon shook his head slightly. In the past, whether it was industrial development zones or the promotion of automatic looms, the tax rate had been reduced quite a bit. It really cannot be reduced anymore. After all, France is still carrying a debt of more than 2 billion.
Perhaps, the establishment of a rating agency should be put on the agenda.
With rating agencies, companies that have achieved production standardization can be given higher ratings. Although the rating itself does not generate profits, it is a reflection of the company's strength. Both investors and consumers will definitely choose companies with higher ratings more often. Companies with high ratings also have an easier time getting approved when it comes to bank loans.
And you can also use the rating standards to guide the company's development direction. Even after the influence of rating agencies is large enough, they can learn from the Western methods of later generations and develop a "sovereign credit rating" business.
The so-called sovereign credit rating is to evaluate the credit quality of a country or region. Including many aspects such as national governance, economic performance, policy level, social structure, government financial strength, etc.
You know, the three major rating agencies in later generations are simply using their hands to lower the sovereign rating of any country. It is trivial to scare away foreign investment. In serious cases, it can even trigger a national economic crisis!
After the rating agency is established, France will have another economic weapon in its hands. If you dare to go to war with France, I will first give you a little shock of the continuous decline in the sovereign rating. Even if the opponent's national debt cannot collapse, it can at least increase its financing costs and greatly increase the pressure on military expenditures. So who is more suitable to set up a rating agency?
Joseph thought to himself, first of all, it must not have the color of the French government, otherwise it will appear not to be objective and independent enough.
Jeansonnet's consulting company is quite good. In order to promote production standardization, its employees have exceeded 1,000 people. It is completely possible to split off part of it and establish a rating agency.
Then the French Chamber of Commerce came forward to join forces with major banks to establish a rating agency.
In addition, one is established in an allied country of France. After all, it is necessary to conduct sovereign ratings on other countries. If the rating agencies are all French, it will inevitably make some countries feel that there is something shady.
However, no matter who takes the lead in establishing them, and whether they are established in France or abroad, the leadership behind these evaluation institutions must be firmly in their own hands.
Needless to say, Jeansonnet's company was originally established to promote production standardization, and the establishment funds were all provided by himself. The spun-off rating agency is naturally controlled by itself.
The Chamber of Commerce cannot ignore the opinions of the royal family at all. The funds are also provided by the French Reserve Bank, so it is not difficult to get control.
As for the foreign rating agency, we need to think about it. It is best to find a local agency to act as a white glove, with French capital injecting control.
The location could be Spain, after all, we are related to the Bourbon family.
Joseph had a rough idea about the rating agency, and then continued to talk to Mirabeau about the industrial development. His eyes inadvertently glanced at the line chart he had just drawn, and suddenly he felt something was wrong.
He picked up the chart and looked at it carefully. The data were all dense before, so it was difficult to notice the problem. Only then did I find out from the chart - the first nine months of last year were all the way up, but starting from October, in addition to papermaking and brewing, the growth of other industries All started to slow down.
He pointed to the lines on the map and turned to look at the Minister of Industry: "Count Mirabeau, look here, it seems that since October, what problems have arisen in industrial development?"
"Yes, Your Highness." Mirabeau nodded hurriedly, "This is also one of the main things I want to report to you today.
“The momentum of industrial development is indeed slowing down, and there are two main factors causing this situation.
"The first is insufficient investment. After investing in the Luxembourg iron ore, the Industrial Development Fund did not have much money on its books. Most investors interested in industry had completed their investments in the first half of the year, and some entered later. There are now fewer and fewer new investors in the South Netherlands coal mines.”
The Minister of Industry paused and continued: "Second, the rate of return on industrial investment is low, which has also led to new investors staying on the sidelines and factories being unwilling to increase production on a large scale."
(End of chapter)