TR3.5

Mann Ming Trade notes

Exr0n 2021-09-27 Mon 12:00

Table of Contents

Annotated doc: srcAnnotatedExr0nMann-Ming trade and silver.pdf

1 Facts

  • China tried to control trade/currency
  • A lot of inflation happened
  • Money was eventually privatized

2 Claims

  • China "let in the flood" for two factors
    • political
      • originally wanted to control trade ("foreign goods, not foreign people")
      • but this backfired, so they allowed trade to regain control
    • economic
      • silver coinage because original currency was not trusted
  • "China's efforts to control piracy were hampered by incompetence at the top level"
  • "By the time the wokou were terrorizing the southeast coast, the Chinese empire had no functioning currency"

3 Questions

  • Why didn't the rulers avoid printing so much money? They must've seen inflation coming