The world that trade created
Chapter 1. The Making of Market Conventions 1.4 When Asia was the World Economy
When the Portuguese reached India by sea in the 1490s they set up the foundation of trade around the Indian Ocean. Islamic rule of the Byzantine world and the Sassanid lands made it safe for all traders to travels between the Mediterranean and the Indian Ocean. As their rule expanded further to parts of Europe, Africa, and Indonesia the trading business between countries prospered. Once fees were paid almost all traders of any religion were allowed to move and trade from place to place. Though this caused many wars, trade still went on. Goods weren’t the only thing being traded around the world, with the exchanging of items; knowledge of foreign things was also spread. Rice-growing was spread from Asia, to Africa and Europe. Other crops and good were also introduced to new parts of the world such as sorghum, paper, and Greek medicine. The Portuguese soon claimed the right to sink any ship that didn’t have permission which caused angry rulers and merchants to join together and ignore the Portuguese rules. In the 1600s the Portuguese rule was almost no more and instead of an Asia-centered world economy it was a Europe-centered world economy thanks to the Dutch and English. 1.5 Treating Good News as No News
A trader from Venice, named Marco Polo, traveled to Asia with his father and uncle. They came home with a fortune. Polo told many of his adventures that occurred in the 25 years he spent in Asia. But because of European beliefs about Asia he was not believed. Out of all the people he told one of them was a romance writer, the writer then went on to make a book of Polo’s stories. After 1324, a clown mocked Polo in carnivals telling audiences about Marco’s unbelievable ‘tales’. Things such as a paper money based economy and cities with a population of 2 million just could not be understood by the Venetians. But just because the people of Venice would not believe Polo doesn’t
When the Portuguese reached India by sea in the 1490s they set up the foundation of trade around the Indian Ocean. Islamic rule of the Byzantine world and the Sassanid lands made it safe for all traders to travels between the Mediterranean and the Indian Ocean. As their rule expanded further to parts of Europe, Africa, and Indonesia the trading business between countries prospered. Once fees were paid almost all traders of any religion were allowed to move and trade from place to place. Though this caused many wars, trade still went on. Goods weren’t the only thing being traded around the world, with the exchanging of items; knowledge of foreign things was also spread. Rice-growing was spread from Asia, to Africa and Europe. Other crops and good were also introduced to new parts of the world such as sorghum, paper, and Greek medicine. The Portuguese soon claimed the right to sink any ship that didn’t have permission which caused angry rulers and merchants to join together and ignore the Portuguese rules. In the 1600s the Portuguese rule was almost no more and instead of an Asia-centered world economy it was a Europe-centered world economy thanks to the Dutch and English. 1.5 Treating Good News as No News
A trader from Venice, named Marco Polo, traveled to Asia with his father and uncle. They came home with a fortune. Polo told many of his adventures that occurred in the 25 years he spent in Asia. But because of European beliefs about Asia he was not believed. Out of all the people he told one of them was a romance writer, the writer then went on to make a book of Polo’s stories. After 1324, a clown mocked Polo in carnivals telling audiences about Marco’s unbelievable ‘tales’. Things such as a paper money based economy and cities with a population of 2 million just could not be understood by the Venetians. But just because the people of Venice would not believe Polo doesn’t