As an investor (gentleman), who would you choose to invest in under the following circumstances?

Aside from the size of the territory, another relevant situation is that the northern population is denser, with a division of about 6/4 or even 7/3 along the Yangtze River.

In fact, just looking at this map, Cao Cao is really not the first choice. Yuan Shao originally had a great opportunity; after all, Emperor Guangwu Liu Xiu started from Hebei. It's a pity for Yuan Shao, as his military capabilities are still inferior to Cao Cao's.

If Liu Zhang were a wise ruler and quickly annexed Zhang Lu, Li Cui, and other territories in the north, he would also have a chance. This is the territory that Qin and the Western Han started from.

Liu Bei can truly be considered a resilient character, as he moved from a small area in the north to take one-third of Jingzhou and Shu in the south. I estimate that having the same surname Liu might have helped a bit; in short, it’s the integration among the royal relatives of the Han dynasty 😂

Conclusion: Basically, the Battle of Guandu is the decisive battle; all subsequent wars are just garbage time. However, because Cao Wei was too weak, this event lasted for several decades.

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