TR3.5

China's Economic Decline in the 1500s

Houjun Liu 2021-09-27 Mon 12:00

1 Ming's Economic Decline

Various infighting + change of leadership caused a slow but sure period of economic decline in China.

1.1 w.r.t. Zheng He's Missions

1.2 w.r.t. Botched Reopening

1.3 w.r.t Declining Currency

1.4 China's Centralization Argument

  • Decentralized? => Ports had almost no central control
  • Centralized? => Government structure centralized, but infighting and smuggling
  • Centralized policy maneuvers lead to local chaos that could only be addressed to local control, but central control got too big