In the history before Hyang’s intervention, Edward IV played the most significant role in the Medici family’s downfall.

Or more precisely, Edward IV was the one who severed the lifeline of the Medici family as it gasped for breath on its deathbed.

Lorenzo de’ Medici was reasonably competent in diplomacy and politics but incompetent at managing the bank that formed the family’s core.

As a result, the sixteen branches inherited from his great-grandfather went bankrupt one after another, leading to the Medici family’s collapse.

Among these bank failures, the event connected to Edward IV was the bankruptcy of the London branch in 1472.

***

The greatest source of income for Italian city-states, including Florence, was the wool textile business.

To produce the famous Italian wool textiles, high-quality wool was essential, and England was the largest supplier of this wool.

England had been making substantial efforts to foster its wool textile industry since the time of Edward III.

They not only scouted wool craftsmen from Italy and the Benelux region to settle in England but also placed restrictions on textile imports.

They blocked low-priced imports and prioritized high-priced goods, even limiting those quantities.

Thanks to these policies, England’s wool textile industry grew significantly.

However, where there’s light, there’s always shadow.

As England’s domestic wool textile industry grew, the amount of wool entering Italy decreased dramatically.

To solve this, they used wool from Spain and other countries as substitutes, but the quality wasn’t as good as English exports.

Eventually, at negotiations to import English wool, Edward IV demanded a massive loan.

Lorenzo’s Medici family had no choice but to approve this loan reluctantly.

And Edward IV cleanly defaulted on this loan, causing the Medici Bank’s London branch to go bankrupt.

Edward IV could do this because this wasn’t the Medici Bank or Medici family of old.

The formidable financial and political power of Cosimo de’ Medici’s era had long since vanished, so Edward IV could default without worry.

***

However, as history changed with Hyang’s intervention, the relationship between the Medici family and England also transformed significantly.

First, with Cosimo and Giovanni living longer, the division of duties between Lorenzo and Giovanni was properly established.

While Giovanni initially received evaluations of being mediocre, he was definitely more capable than Lorenzo. Moreover, the achievements and experience he accumulated traveling between the Empire and Italy over the years transformed him from an ordinary merchant into a cunning old fox.

The Medici Bank also grew stronger, returning profits exceeding what Cosimo had spent.

Thanks to this, European monarchs including Edward IV still had to watch the Medici family’s reactions carefully.

Additionally, the market conditions changed by Hyang’s intervention made things difficult for England and Edward IV.

Though Hyang hadn’t deliberately schemed this, it was a result created by the butterfly effect.

***

Thanks to the MSG Hyang liberally sprinkled, Sejong and Joseon opened their doors early.

Following Joseon’s lead, Ming, Japan, and other Asian countries also began opening their doors one by one.

Initially, trade consisted entirely of importing and selling Eastern goods, starting with products from the ‘Land of Flowers’ symbolizing Joseon.

But merchants were merchants.

“There’s a limit to just importing and selling goods from the ‘Land of Flowers’ and the East. We need things to sell there too.”

To gain greater profits, European merchants tried to export European products to the East.

However, European merchants who challenged the Eastern market faced disappointment.

“I’d forgotten why Eastern goods were popular in Europe…”

The merchants could only smile bitterly.

The reason products from Joseon and the East could gain popularity in Europe wasn’t simply because they were ‘curious items from distant foreign lands.’

They had not only superior quality compared to European items used for similar purposes but also possessed beauty.

And at the pinnacle stood Joseon, called the ‘Land of Flowers,’ later the Empire.

Therefore, while they could manage some profit targeting the more backward Southeast Asian countries, they couldn’t avoid losses in Northeast Asia, especially in the Empire and Ming, the largest markets.

To be precise, while merchants didn’t lose money, European nations suffered national deficits.

To escape this one-sided trade relationship, European merchants did their best to tap into the Empire and Ming markets.

In that process, wool textiles and expensive lace emerged as promising products.

Wool textiles exported from Europe, especially Italy, caught the attention of the Empire’s fashion-conscious citizens.

The Jurchen tribes in the Empire’s northern territories and Mongol nomads also produced wool textiles. However, European products had superior quality. Additionally, since the dyeing quality exceeded that of the north or Mongolia, European wool textiles began being used for the Empire’s winter clothing.

As wool textiles began selling in the Empire, Italian merchants including the Medici started focusing on wool textile exports.

“The Empire’s winters are famously harsh! They’ll definitely sell well!”

However, contrary to expectations, wool textile sales remained sluggish.

While Italian wool textiles were struggling, French lace was gaining popularity among upper-class women in the Empire and Ming.

Giovanni was most stimulated by this. One of the Medici family’s main industries was wool textiles. Their pride in wool textiles was equally high.

“Find out why people in the ‘Land of Flowers’ are reluctant to buy wool textiles!”

“Yes!”

The results obtained through their market research were as follows:

• Good insulation and elasticity, but too heavy and stiff.

“Heavy and stiff?”

Receiving the report, Giovanni examined the fabrics made by the Empire and Ming people. After obtaining and examining silk, cotton, and hemp at various price points, Giovanni nodded.

“Indeed…”

In the case of silk and cotton preferred by the Empire’s people, the more expensive products were softer and lighter. This was the same for Ming and Japan.

In contrast, Italian wool textiles were heavy and stiff by comparison.

Understanding the problem, Giovanni began searching for wool from Europe and the Middle East to find a solution.

Through that investigation, Spanish wool emerged as a promising candidate.

Wool from Merino sheep had quality comparable to English wool.

Moreover, it had an advantage English wool lacked.

The wool fibers were very fine.

Therefore, Giovanni shifted his purchasing to Spain.

While producing wool textiles with Spanish wool, they initially suffered from extremely high defect rates.

This was due to craftsmen accustomed to English wool and looms adjusted for English wool characteristics.

However, as craftsmen became familiar with Spanish wool and improved the looms, wool textiles suitable for the Northeast Asian market began emerging.

And as time passed, soft and light wool textiles like the silk preferred by the Empire and Ming people emerged, making Florentine wool textiles popular in the Empire and Ming.

The new fashion trend among European upper society also played a part.

As the ‘Empire style’ became fashionable, European upper-class women had to wear Empire-style dresses to avoid being ostracized.

To make Empire-style clothes, using fabric from the Empire was the correct answer, but making everything from top to bottom with Empire fabric was too expensive. However, the new wool textiles from Florence were as close as possible to Empire fabric characteristics and reasonably priced.

Thanks to this, Florentine wool textiles became popular in European high society.

As time passed, stories about Spanish wool and textiles made from it spread among Florence’s rival cities and competitors, and Spanish wool slowly began displacing English wool.

This transformation made things difficult for England and Edward IV.

Though Hyang hadn’t intended it.

***

“Delivering gunpowder to Edward in London isn’t something I’m particularly fond of. But to prevent France from advancing too far, it can’t be helped. Tsk!”

Cosimo clicked his tongue. England’s Edward IV was definitely not a good customer. However, he was essential for controlling France.

France was Florence’s ally along with Portugal and the Ottomans. But France was a European power.

France had the largest population and most fertile land in Europe.

Additionally, France had recently grown even larger by annexing the Duchy of Burgundy.

Once it recovered from the aftereffects of the ‘Hundred Years’ War,’ France would immediately become a power controlling European affairs.

“If we can’t stop France’s dominance, our family will be reduced to the French king’s purse. We must prevent this.”

At Cosimo’s words, both Giovanni and Lorenzo nodded.

Though the Alps provided protection, France could descend on Florence anytime it wished.

The Medici family lending money to French kings and nobles had business aspects but was also a means of securing the city’s safety.

If France dominated as Cosimo feared, the French king would become an unreliable trader. Even so, the Medici family would certainly have to continue lending to the French king as much as he wanted.

Otherwise, the French king would not only default on loans borrowed from the Medici family but also mobilize forces to attack Florence and conduct plunder.

Of course, attacking Florence could be considered the worst case. However, it was certain that the shareholding structure of the Suez Railway would change immediately. While the Ottoman and Empire shares would be difficult to touch, Portugal and Florence would certainly have to accept major losses.

Therefore, Cosimo planned to extract gunpowder secrets from France and leak them to neighboring countries.

And he chose England as the first target.

“Lorenzo.”

“Yes.”

“What do you think would happen if we don’t leak the gunpowder secrets?”

To Cosimo’s question, Lorenzo answered without hesitation.

“Even if we don’t leak them, they’ll develop it themselves or steal it. But it will take that much more time. And France will advance by that amount of time. France, having advanced that far, will fight England again first.”

“Why?”

“Because of Calais.”

Cosimo nodded at Lorenzo’s answer and looked at Giovanni.

“Do you think the same?”

To Cosimo’s question, Giovanni nodded and answered.

“Yes. Calais will become the spark for war. And we’ll have to spend money unnecessarily. A lot of it.”