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not anymore
It may be time to update this due to recent game changes.
Also, to add a tip from another guide, build to over 100k fleet tonnage as soon as you can and go around seeking neutral and small countries you can take over. More ports are good, especially ones that are able to be larger capacity.
You will find that pitch doesn't affect your accuracy that much. It's is not as consequential as you might think.
I won’t describe each point directly, but:
1. The form of government directly affects the share of spending on the fleet from GDP (the maximum was for monarchies when I was still playing this);
2. The start of a war doubles your share of GDP, while long wars lead to the degradation of your economy. Even if the enemy has no fleet at all and only 1 province against your world power.
3. Ships ALWAYS require expenses for their maintenance, but this value can differ significantly for ships in mothballing, in port and off distant shores.
4. Since the introduction of elongated barrels and the detonation of torpedo tubes, the construction of small ships makes sense only for anti-submarine warfare in a rather narrow period.