Keqing's words were both sincere advice and a deliberate display of the strength of the Liyue Qixing.
In her view, for the Prince of Snezhnaya to win a commercial war in Liyue was nothing short of wishful thinking.
"Take Tian Shu for example," Keqing said calmly. "He controls all of Liyue's food and restaurant industry. Since Your Highness could name Wanmin Restaurant's dishes at the banquet, you must also be familiar with Chef Xiangling's skills. With her level of cooking, there is absolutely no way to break Tian Shu's monopoly. Half of Wanmin Restaurant's shares are already under his name."
This was the first time Severin had heard of that.
"As for myself," Keqing continued, "the prime land in Liyue Harbor is almost entirely mine. Most of the buildings are properties owned by my family. We control over half of Liyue's real estate profits. No one dares to compete with us. Any company that posed a threat was either acquired—or driven out of the market by undercutting prices."
After laying this out, she noticed that the Prince of Snezhnaya was still sipping his tea leisurely, as if none of it mattered.
Feeling slightly dismissed, Keqing pressed on.
"Even if someone gains an advantage through business, Ningguang holds legislative authority and the intelligence network. Any merchant who challenges the Seven Stars will eventually be crushed by Liyue's laws. It may not be fair, but that is our privilege."
"From industry barriers to contracts and legislation, the Liyue Qixing have completely monopolized the market. Any competitor will be eliminated before they even have the chance to grow."
She took a deep breath.
At this point, the Prince had to understand—
The Qixing stood undefeated.
Severin finally spoke, his tone indifferent.
"Six business oligarchs, and one dictator."
Keqing frowned.
It wasn't the label oligarch that bothered her—it was the fact that even now, Severin showed no hesitation, no doubt, no intention of backing down.
This was a battle he was destined to lose.
Where did his confidence come from?
Was it arrogance… or did he truly have a way to break the deadlock?
Countless challengers before him had vanished into history. Even if Severin was a once-in-a-generation genius—what could that change?
"Your Highness," Keqing asked directly, "do you not believe what I'm saying?"
Severin did not answer. Instead, he asked her a question.
"Miss Keqing, do you know the most effective way to drive up housing prices?"
"Raise construction material costs and labor fees," she replied without hesitation.
Severin shook his head.
"Then tell me this—why does the same building sell for one hundred million Mora in Liyue Harbor, but only forty million in Guili Plains?"
"Because Liyue Harbor has a dense population and many wealthy buyers," Keqing explained. "When they compete for property, prices are driven up—just like bidding at an auction."
"You're only seeing the surface," Severin said calmly.
"The real reason those wealthy buyers are willing to pay high prices is because property preserves value—and appreciates. They believe they can always sell it for more later."
He looked at her steadily.
"The most effective way to raise housing prices is speculation."
Keqing froze.
"Speculation… on property?"
"This is my first time hearing such a concept. Your Highness, how exactly would one do that?"
Liyue's commercial system was still relatively primitive. She genuinely didn't understand.
"The method is simple," Severin replied. "Release information that stimulates greed."
He gave her the most basic example.
"I only need to announce that Snezhnaya plans to invest nearby and build the largest commercial market in all of Liyue."
Keqing's eyes widened.
"Then I'd buy up every property in the area—"
She stopped herself, realizing it was only an example, then exclaimed in admiration,
"Brilliant. Truly brilliant. That alone would cause housing prices to skyrocket."
Severin set his teacup down.
"Miss Keqing, you've already lost. If this were a real confrontation between you and me in the real estate sector, I'd already have walked away with enormous profits."
"When you finally decide to enter the market, I will have exited long ago—taking my gains with me—moving on to speculate elsewhere. As my wealth continues to grow, you merchants will be left buying the inflated properties I created."
He smiled faintly.
"In common terms, you'd be the ones holding the bag."
"In this game of passing the parcel, you may not be the final victims when the bubble bursts—but I will always be the first player, with the lowest risk and the greatest profit."
Keqing was shaken.
This method completely overturned her understanding of real estate.
She had always waited passively for prices to rise—never once considered actively creating the rise.
True, property speculation was morally questionable.
But the Qixing had always believed profit came first.
If the gains were large enough, who cared about ethics?
After all, being unethical wasn't illegal in Liyue—at worst, people would complain.
"You asked whether I believed you," Severin said calmly.
"This is my answer. Even in a market you believe to be fully monopolized, I can still use commercial principles to strike you where you least expect it."
Keqing felt excitement—
and fear.
The Prince of Snezhnaya truly seemed capable of shaking Liyue to its core. His commercial war against the Qixing might unfold in a way they had never encountered before.
Naturally, she would not respond with something as naïve as 'Now that I know your method, I can counter it.'
If he dared to reveal such a tactic openly, it meant he had countless others prepared. There was no defense.
After a long silence, Keqing steadied herself.
"Your strategy is nearly flawless," she admitted. "But it is also… idealistic. At the final moment, Ningguang would invoke legal authority under the guise of market stability and ban property speculation. At that point, Your Highness's strategy would fail."
Severin shook his head again.
"Laws are always reactive. By the time you decide to act, I will have already broken your monopoly."
"And by then, it will be too late."
He continued evenly.
"Once the entire population is speculating on property, the momentum becomes unstoppable."
"Your Qixing have a saying: Cutting off someone's source of income is like killing their parents. After merchants and citizens taste the profits of speculation, when Ningguang blocks that path—who do you think they will support?"
He smiled.
"Me… or the Liyue Qixing?"
Finally, Severin spoke the truth of it.
"Speculation is merely a tool. My real objective is people's hearts."
Keqing lowered her head.
Her confidence was gone.
She knew better than anyone—
Liyue was a city of contracts.
A city of commerce.
In other words, a city ruled by profit.
And because of that, the Prince of Snezhnaya's strategy had a terrifying chance of success—
tearing open a fatal crack in the very market the Qixing believed they fully controlled.
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