Our primary benefits are long term strategic and logistical, not immediate tactical, and I expect the time scale to match.
To expand on this.
Let's assume that we properly raise a Sapient Dragon as a loving parental figure such that they find Abwabwa to be their Home and seek only a happy life of peace and prosperity. Let's also assume that this dragon has a life span measured in the thousands of years if not biological immortality.
From an Heir point of view, we now have one of the best possible Regents to maintain our country in times of crisis and disrupted lines of inheritance. A tremendously personally powerful immortal who cares about the place they're holding stewardship over? That means no coups that aren't "Dragon Slaying" in quality which would have succeeded against a much more mortal regency, a Regent who has spent decades to centuries learning the art of Stewardship and who truly cares about the country and not their own personal ambitions, and a foreign policy which can be happily described as "Don't make the Dragon come over there."
Militarily, once grown any Invasion will need to factor in "has a Defensive Dragon" as well as "Need Anti-Dragon Defenses to Maintain Supply Lines", which at
worst forces them to spend resources on specific anti-Dragon options.
Magically, willingly given Dragon blood/scales/teeth/fire is likely a
potent reagent, which will have all sorts of benefits.
Economically, ignoring the martial pressure of "We have a Dragon, don't make us Mad or we might use the Dragon", we have reliable internal flight with a capacity of however much the dragon can carry, which also applies to military repositioning.
Diplomatically, a Dragon is a
tremendous stick, and the sheer
prestige of having a Dragon in our household or of
flying on a Dragon to our destination is a huge flex against our diplomatic participants.
And for Magical Diplomacy, if we had a War Trained Dragon before the Jones meeting, you bet your butt he'd approach us with a much less hostile initial attitude. The Force Projection of a Gargantuan+ Sized Dragon cannot really be understated within this general sort of setting. Even a Huge Sized Dragon would have made him at least
wary of what we might be able to sneak by into making
his life difficult.
In essence, an educated, trained, House Sized Dragon upgrades us from being a notable uprising power in the Middle East to being someone that people on the tier of Jones have to at least acknowledge the potential trouble we could cause them.
I wouldn't say we'd be a Peer to Jones, but we'd be someone that he couldn't sail into port and dictate terms to, not without making it a Focus of his attention at least, which would force him to take losses elsewhere.
Now combine that altogether with the timescale of a few hundred years from now?
The world is still much bigger than us, but I wouldn't be surprised if we had enough territory to be considered for a proper Empire title if we maintain a Heroic Heir or three over the immediate generations.
Of course, I'm completely ignoring the powerhouse that is Agrabah, Jasmine, and the Sultan, so we might end up creating the UN-But-Effective for all I know with our baby Dragon being effectively a slice of life foot note in our ascendancy to World Police
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