Since trade was so rapid, a shortage of silver resulted and they had to introduce the Mexican dollar. However this caused China’s copper currency to depreciate so much that their financial system fell apart. As many other ports were opened on China’s coast, people lost their jobs because products could be made cheaper elsewhere and imported into China. When peopled lost their jobs, the quality of life decreased severely. China finally realized how behind they were in their political, social, and economic structures and attempted to modernize their armies and stimulate their economy. All of these things that are evident in China today can be linked back to the effects of the opium wars in
Since trade was so rapid, a shortage of silver resulted and they had to introduce the Mexican dollar. However this caused China’s copper currency to depreciate so much that their financial system fell apart. As many other ports were opened on China’s coast, people lost their jobs because products could be made cheaper elsewhere and imported into China. When peopled lost their jobs, the quality of life decreased severely. China finally realized how behind they were in their political, social, and economic structures and attempted to modernize their armies and stimulate their economy. All of these things that are evident in China today can be linked back to the effects of the opium wars in