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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
- political
- "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