Following the Oceanykan War of Independence, a new union free of British rule was established, The Oceanykan Federation. Its governing body, The Oceanykan Council, sought to assert its economic sovereignty and stabilise its war-ravaged economy. The Republican Autonomy Plan, introduced in 1907, aimed to reduce foreign economic dependence, rebuild critical industries, and strengthen regional economies.
- Though the war had not been particularly destructive, Oceanyka suffered from enormous capital flight as most of its European investors left, foreseeing bloody retribution. The Oceanykan Federation was left to rebuild and expand with a shoestring budget, but key loans were secured from The United States of America, The Republic of France and even a few from Whig-leaning bankers within the British Empire. Industrial policy shifted towards self-sufficiency, emphasising domestic production over foreign imports. While Oceanyka continued to trade with Britain and its sphere, the new government implemented import substitution policies, encouraging local industries to manufacture goods previously imported from overseas. This strategy aimed to reduce Oceanyka’s vulnerability to foreign economic pressures and establish a resilient internal market. The biggest winners of this program were powerful sovereignties and statelets within the Oceanykan Federation, which by adopting economic specialisations, were able to successfully compete with foreign products.
- Oceanyka’s vast rural territories had long been dominated by large landowners and foreign agricultural interests. The new government sought to address these inequalities through agrarian reforms, redistributing land to smallholders, cooperatives and even to their original owners, the Nomads and Tribals, in many cases. The goal was to increase domestic food production, reduce reliance on imported agricultural goods, and empower rural communities as key players in the national economy. The University of Cestlep provided agronomical knowledge and technical assistance to farmers, promoting modern agricultural techniques and helping plan irrigation projects. Additionally, efforts were made to establish local agricultural banks, offering low-interest loans to small and medium-sized farmers to facilitate expansion and mechanisation.
- With the economy transitioning from wartime mobilisation to peacetime industry, the government sought to integrate Oceanykan business and labour into the sphere of power. Trade unions, which had played a significant role in the independence struggle, gained influence during this period, and became recognised as factions of their own (the most important of them being the Australian Workers' Union and the National Rail Workers Syndicate). Similarly, Oceanykan industrialists were coopted into politics as factions of their own, and the Federation hosted a number of tripartite negotiations between them and trade unions, ensuring a degree of harmony.
Despite its ambitions, the Republican Autonomy Plan faced considerable hurdles. The devastation of the war meant that Oceanyka still relied on foreign loans, given at relatively high interest rates. Additionally, the disruption of global trade due to the outbreak of World War I limited Oceanyka’s ability to export goods, particularly wool and minerals, to traditional markets. Foreign investors remained sceptical of Oceanyka’s economic stability, wary of the new government’s assertive economic policies. Some foreign companies, especially in banking and mining, sought legal challenges to reclaim assets lost during the war, leading to tense diplomatic relations between Oceanyka and the world's powers for a few years.
By the end of the 1910s, the Republican Autonomy Plan had made significant strides in stabilising Oceanyka’s economy, laying the groundwork for long-term self-sufficiency. Industrial output was recovering, agricultural reforms had improved food security, and the national financial system was more resilient than it had been under colonial rule. However, the onset of global economic instability in the coming decade would test the sustainability of Oceanyka’s newfound economic independence, beginning with the British Revolution and the subsequent Collapse of the British Empire. Nonetheless, the economic structures established in the 1910s provided a foundation upon which Oceanyka could build, shaping the nation’s trajectory as it moved towards the export-oriented growth of the 1920s and the turbulent years beyond.