A World Created through Trade
Intro The world economy has been linking distant and disparate peoples for thousands of years. Globalization and diversity are by no means the product of modern technologies and economies; instead they have been widespread throughout history. Even if at times most of the wealth was flowing towards Europe, obscure places profoundly influenced the usage of commodities. It was the deep-rooted cultural beliefs of local markets rather than the traditional notion of supply and demand that determined the value of different goods.
1 The people of the Fujian trade diaspora, out of Southeast coast of China spreaded across the world. A son would be given an opportunity to travel abroad and make money then come back to a wife as a reward. The Chinese tribute system focused more on culture, politics, and status, as opposed to economic gain, it still helped define a vast common market, giving it currencies, defining tastes that helped create markets worth producing for, and creating standards for its elite class. The Chinese monetary system originally used copper, bronze, and gold coins, but Chinaís growth caused a shortage of money. So, lead and iron coins as well as money notes (on paper) were used. The Asia centered world economy began to grow with the rise of Islam in the 7th century AD. The single power Islam guaranteed a safe passage between the two worlds. In addition, Marco Polo‚Äs travels (although they were sometimes considered fantasy) led to an extensive trade between East Asia and Europe. This led to world-political changes and minimized Europe‚Äs power. In central America, Aztec and Mayan civilizations‚ Äs economies came to a halt after the arrival of Spain due to Spain monopolizing the trade and global trade taking over. As trade grew, a common set of legal codes were adopted in the 16th-17th centuries in Southeast Asia, the use of which spread to other areas of law as well. However, by the 1700s, the European traders wanted to keep administrative costs low,
1 The people of the Fujian trade diaspora, out of Southeast coast of China spreaded across the world. A son would be given an opportunity to travel abroad and make money then come back to a wife as a reward. The Chinese tribute system focused more on culture, politics, and status, as opposed to economic gain, it still helped define a vast common market, giving it currencies, defining tastes that helped create markets worth producing for, and creating standards for its elite class. The Chinese monetary system originally used copper, bronze, and gold coins, but Chinaís growth caused a shortage of money. So, lead and iron coins as well as money notes (on paper) were used. The Asia centered world economy began to grow with the rise of Islam in the 7th century AD. The single power Islam guaranteed a safe passage between the two worlds. In addition, Marco Polo‚Äs travels (although they were sometimes considered fantasy) led to an extensive trade between East Asia and Europe. This led to world-political changes and minimized Europe‚Äs power. In central America, Aztec and Mayan civilizations‚ Äs economies came to a halt after the arrival of Spain due to Spain monopolizing the trade and global trade taking over. As trade grew, a common set of legal codes were adopted in the 16th-17th centuries in Southeast Asia, the use of which spread to other areas of law as well. However, by the 1700s, the European traders wanted to keep administrative costs low,