China used to have an economy based on bartering but now it has made its standard currency silver, this and the increase of global silver trade has caused devastating affects to their economy because of the lack of the silver coin that they actually had. Ye Chunji an official during the Ming dynasty was sent out to limit wedding expenses. This shows that people are spending their money on useless amenities that do not benefit the economy therefore we see a limit being place (1). Since this was a county official and most official were Confucian scholars that disliked people that portrayed themselves as extravagant, so Chunji would support this spending limit. Wang Xije a Ming dynasty court official said that the lack of the silver coin led to the fall of prices in grain. As the silver that China had became more scarce due to the fact that people spent their money on useless things we see the working class like farmers getting less profit from their crops because the lack of silver (3). Since court official in china were Confucian scholars and peasants were below them in the social hierarchy they wanted them to be prospering so they can prosper as well. China began depending solemnly on the trade with…
In the year 1571, the global trade started based on Boxer’s logic. The city of Manila was gthe first ever city to initiate trade across the Pacific Ocean. Global trade is the exchange of valuable and substantial products that are desired by a continent, and in this case, it was silver. Silver played a prominent role throughout the global trade with China being the primary end-market for world silver for several centuries. (#2, p.393) The reason China was the primary source of silver is the result of having significantly high prices, whereas other continents had more suitable pricings. The central point is that all the great silver mines in both hemispheres sold ultimately to China. (#1, p. 202)…
During the period of 1801-1817, Democratic-Republicans and Federalists had different views of the Constitution; strict interpretation and then loose interpretation. Thomas Jefferson and James Madison were two Democratic-Republican presidents who viewed the Constitution strictly. However, Jefferson would sometimes adopt federalist practices and loosely interpret the Constitution. The federalists during the Hartford Convention viewed the Constitution super strictly; especially many objectives of the War of 1812 were unconstitutional. Throughout 1801-1817, Jefferson had both strict and loose interpretations of the Constitution, as did federalists.…
b. Predestination – God has already chosen those who will be saved - “the elect” - and those who will be damned…
In 1939 the world was plunged into World War II because of the Munich Agreement. The Munich Agreement was an agreement regarding the Sudetenland Crisis between the major powers of Europe after a conference held in Munich in Germany in 1938. The Sudetenland was an important region of Czechoslovakia. The Treaty of Versailles was the peace treaty created as a result of six months of negotiations at the Paris Peace Conference of 1919, which put an official end to World War I between the Allies and Central Powers. The Munich Agreement caused many disagreements between European countries. Collective security was a more effective response to aggression than appeasement because more European countries disagreed than agreed with the decision made during the Munich Conference for various reasons and Germany had many ways of keeping its territories under control.…
In the time between 1830 and 1860 we see a great divide through America on the topic of slavery. Abolitionists were growing in number and starting to rally against the Pro-slave supporters of the south.…
America felt the need to move towards the idea of foreign policy from 1895 to 1920; their success was a combination of idealism and self-interest. Both were influential in the decision to venture outside of U.S borders. America expanded due to idealistic view such as: The White Man’s Burden, Religious motivation, a social contract with the Western Hemisphere and the Spanish American War. However, self interest offered more of a substantial force with America’s desire for a stronger Navy, foreign market, power, pride, and the influences of the Roosevelt Corollary. When both ideas are combined they create one of the most influential and globally shaping decisions of our world.…
The flow of silver during the mid-16th century to the early 18th century had a great impact on the social and economic aspects of many countries through trade. It had an effect on the land and on the value of silver. The idea of the Ming Chinese government, that all domestic taxes and trade fees be paid in silver created greater economic opportunities, but also caused a growing social division within China.…
The social effects of the global flow of silver from the mid-seventeenth and early eighteenth century did indeed have an effect on the trade of silver throughout the world as this is expressed in documents 1, 6, 7 and 8. Although the social effects on the global flow of silver were miniscule compared to the economic effects, they affected the trade system and small scale trading relations. Although document 1 is the shortest document, it shows the extensive greed of an extravagant un-satisfied man with a lot of money compared to a satisfied person that has little money. This document clearly states that silver was the form of wealth in the Ming dynasty and the well-being…
The documents 2, 3, 5, and 6 are grouped together because it shows how the silver trade has not benefitted economically and socially. In document 2, by Tomas de Mercado-a Spanish scholar-, it says that the high prices are ruining Spain. Document 3 is by Wang Xijue, a Ming Dynasty court official. It states that the people don’t have enough silver to pay the taxes therefore the grain is cheaper. Document 5 by Xu Donqin Ming, a writer, says that before this trade people could dye the clothes then settle a price of rice, wheat, soybeans, chicken, or other foul. Now they have to have a bill before they dye…
From the seventh century to the sixteenth century, the stability of the gold coin in the Byzantine Empire and later European empires made it the base currency throughout the West---but that would not remain true forever. In the eighth century, the Frankish King Pepin III initiated the usage of the silver coin. As European exploration of foreign lands intensified during the sixteenth century, silver earned a high-ranking position on the global market as one of the most economically valuable natural resources in the world. The availability of silver increased and its popularity prompted the opening of new European and South American mines. As more mines were established, European governments started to issue larger silver coins, lessening the usage of gold currency starting in the seventeenth century---and this practice eventually pervaded China to an almost unfathomable extent. But the global flow of silver from the mid-sixteenth century to the early eighteenth century was certainly not without its social and economic advantages and disadvantages.…
There is a lot of bribery since the Chinese merchants took bribes from the British merchants in order to get the product in China illegally. There is inflation, due to the concentration of a lot of silver in a single place (Guangdong Province) and the low amounts of silver everywhere else, at the same time of the Malthusian trap, so…
References: William F. Butler and John V. Deaver, “ Gold And The Dollar”. Accessed on December 28th , 2009.…
The Ming dynasty ruled China from 1368-1644, and it had a large impact on the world economy, especially in Southeast Asia. The focus in China switched to a more global idea. During time between 1200-1750, the Ming dynasty recognized a tribute system that had a large impact on foreign trade by establishing china as an economic powerhouse and they also began many foreign expeditions which brought some smaller areas/empires into the middle of the world’s economy. On the other hand, china stilled relied largely on agriculture and the productions of goods indigenous to China, which kept grains and other food-like goods in circulation and brought plenty of wealth.…
However, as the trade market increased internationally, there needed to be a common exchange system that would be accepted by all trading countries. Gold was the demand and as such many countries accepted it as a common medium of exchange. Despite it acceptance on in the international market, many times there were discontentment between trade members as it was not a stable medium of exchange.…