The colonization of the Americas by Spain and the beginning of extensive silver mining in Japan greatly increased silver production. All the same, this development of the amount of silver, while to a few population implied great, global created complications. Despite the boost in silver mining appeared to benefit Japan and Spain they supplied as well as Ming China the receiver overall this increase cause multinational problems. Established on the documents, the goods of the increase of silver production, while being beneficial to the middle men that facilitated the trade, eventually weakened the states empires that supplied or silver in vast quantities.
In China, though many people believed the increase of trade that increased the amount of silver in China was beneficial, overall the extreme amount that flowed in caused …show more content…
Granted, the flow of some silver into China was not a bad thing, in fact, it was released when the Ming Dynasty decreed that all taxes and trade fees be paid in silver in the 1570’s, the scarcity of silver coin harmed the economy since people could not pay for their taxes and had to go through middlemen who supplies them with silver, decreasing the value of their produce (Doc2). This problem, presented by Wang Xijue, being a court official, probably sees that a declining economy by this issues will cause public grumbling, maybe even cause rebellions against Ming. Therefore, in an act to save his position, he informs the emperor of this problem. In addition, He Qlaoyuan, also a court official of the Ming, describes the extreme amount of silver that the Ming, a country with little interest international trade, would have flowing into it if it began to trade with the Europeans (Doc 6). Indeed, the price that would normally fetch silk yard instead is 2 or 3 times that amount in the Philippines, giving the Ming a hefty profit if they began trading. However, though this problem of the scarcity of silver
In China, though many people believed the increase of trade that increased the amount of silver in China was beneficial, overall the extreme amount that flowed in caused …show more content…
Granted, the flow of some silver into China was not a bad thing, in fact, it was released when the Ming Dynasty decreed that all taxes and trade fees be paid in silver in the 1570’s, the scarcity of silver coin harmed the economy since people could not pay for their taxes and had to go through middlemen who supplies them with silver, decreasing the value of their produce (Doc2). This problem, presented by Wang Xijue, being a court official, probably sees that a declining economy by this issues will cause public grumbling, maybe even cause rebellions against Ming. Therefore, in an act to save his position, he informs the emperor of this problem. In addition, He Qlaoyuan, also a court official of the Ming, describes the extreme amount of silver that the Ming, a country with little interest international trade, would have flowing into it if it began to trade with the Europeans (Doc 6). Indeed, the price that would normally fetch silk yard instead is 2 or 3 times that amount in the Philippines, giving the Ming a hefty profit if they began trading. However, though this problem of the scarcity of silver