China’s pivotal role in global trade, centring on the impact of silver. Initially, China’s imperial decision to demand taxes in silver in the 16th century ignited worldwide demand for the precious metal, leading to its discovery in South America and the subsequent establishment of a global trade network.

This period saw China dominate the world economy, driving the growth of international cities and fostering a demand for its exquisite goods, particularly tea.

However, this reliance on silver eventually sowed the seeds of China’s downfall, culminating in the Opium Wars with Western powers and marking the beginning of its “century of humiliation.” #chinaeconomy

#chinasilvertrade