Just like the other two empires, Britain was dependent on the trade of goods for silver( Doc. 4). At the beginning of the period their trade was mostly amongst themselves, but by the end they were heavily wanting in the silver trade(Doc 8). Economically the trade of silver allowed for the shift from trade of goods to goods to goods for silver. This changed the output of silver, and the worth of goods in commodity trade.
This record depicts the social problem that the huge flow of silver has caused some people to leave traditional confucian and chinese values of modesty and unnecessary spending because the author claims that there are people in society that can not be satisfied with enough wealth. Moreover, the purpose of this source is to limit wedding expenses which further proves the social problem of unnecessary spending, as it contradicts chinese social values. Additionally, there were also social problems caused by the silver trade in the americas. For instance, Spanish priest Antonio Vazquez de Espinosa describes how Native Americans in the Spanish colonies are force to mine silver, under terrible conditions (Doc 6). This source shows a enormous social problem since people are suffering by being forced to mine silver to support the flow of silver towards china, which enriches spain at the cost of other people.
The Japanese bring the silver in return for China’s gold. In Doc #6, the process to obtain the silver in Spain is to evacuate it from a very rich black flint. It takes thousands of workers and it is a very strenuous process. Spanish records show that millions of silver coins have been taken out. In Doc #7, Chinese merchants trade with Southeast Asia and the Indian Ocean in order to obtain the goods they need in return for what they have.
This type of trade was called “the Columbian Exchange.” However, the Columbian exchange didn’t always benefit both the Native Americans and the Europeans. Diseases were also exchanged, specifically to the Native Americans. Whether the exchanges were positive or negative, the Columbian exchange had a huge global effect, both immediately after the exchange and long-term. The Columbian exchange caused inflation in Europe, change in hunting habits of Native Americans,change in farming habits within Europe, and a large decrease of Native American populations. The Columbian Exchange caused inflation in Europe.
Lucy Wang Snavely AP World History Period 1 21 March 2016 Silver Article Summary In Born with a “Silver Spoon”: The Origin of World Trade in 1571, Flynn and Giráldez talk about global trade, silver, inflation, mining, etc. This article is controversial and contains statements that are different than the popular opinions that people often have. Silver was said to be the “product most responsible for the birth of world trade” and was considered valuable/profitable to various countries. China was the main consumer of silver which led all the silver mines in the world to sell silver to China. Although China was a pivotal country and played an important role in the birth of world trade, it was neglected due to eurocentrism.
1. Why did Americans have such wasteful practices in using our natural resources in the past? * 10 points When European settlers came here there was an abundance of natural resources that seemed like an inexhaustible number of trees and plants to most wildlife. Many settlers lived near the coasts and misperceived the populations of wildlife as it was very plentiful, but as they went inland game was not as abundant. Early on hunters and trappers were paid well to supply furs and feathers to traders which led to more hunting and trapping further declining our nations natural resources.
The Great Depression was caused by an overproduction of agricultural goods which led to an increase on imports and falling prices in the Chinese market. It also included widespread fighting among warlords. A quote that represents how hard the Great Depression was for industrial business owners is, “but it was the time of widespread fighting among warlords, who all levied heavy taxes. This, combined with the effects of the Great Depression, made it an extremely difficult time to run a textile factory” (Chang 104). Also, prior to the establishment of the Renminbi becoming the national currency in 1935, there were many different forms of payment.
The Mongols had a lasting impression on the Chinese. The Yuan emperors had “improved upon the canals, transportation, and communication” to have a better outcome on trade profits (Doc 6). The Chinese hadn’t thought of boosting up their economy in this way; their idea was to produce more not make it easier to travel. In addition, the Mongols has a great system to get the word out to people the “messengers travel throughout his dominions more than 200,00 horses” (Doc. 8).
In china, paper money was introduced in the Song and Tang dynasties and was continued by the Mongols. However, people in china lost confidence in the currency due to inadequate reserves of bullion for paper notes, which created a rise in prices. The diminished value of paper money became one of the major reasons for the decline of the Yuan dynasty. Although paper money was introduced at different times and for different reasons, under mongol rule, the decline of both empires was partly due to the loss of confidence in paper
The greatest evidence of the lasting impacts of the fall of the Roman empire is the worldwide religious transformations and economic regression that it caused. The Roman empire was a significant power in the global economy and when it fell, it sent shockwaves throughout the world. According to Dr. Peter Heather, a Professor of Medieval History at King 's College in London, “many more of the more advanced elements of the Roman economy, such as specialised production and long-distance trade, quickly disappeared too.” When long distance trade and specialization disappeared, these people went back to farming as a source of income. The economy was so bad that in some places there was no money anymore and “by the early 5th Century in Britain, currency stopped being used altogether”(Wood). This in turn led to less development after Rome because no one had an expendable income.