Skip to content

The Founding of Manila and the Origin of Global Trade, 1571

Thursday, 18th December 2014

Ancient history or current events?

Far Outliers

In 1995, historians Dennis O. Flynn and Arturo Girldez published a seminal article in the Journal of World History entitled “Born with a ‘Silver Spoon’: The Origin of World Trade in 1571.”

Global trade emerged with the founding of Manila in 1571, at which time all important populated continents began to exchange products continuously. The silver market was key to this process. China became the dominant buyer because both its fiscal and monetary systems had converted to a silver standard; the value of silver in China surged to double its worth in the rest of the world. Microeconomic analysis leads to startling conclusions. Both Tokugawa Japan and the Spanish empire were financed by mining profits–profits that would not have existed in the absence of end-customer China. Europeans were physically present in early modern Asia, but the economic impact of China on Western lands was far greater than any…

View original post 12 more words

Advertisements

Comments are closed.

Philippine Armorial

Philippine personal and family heraldry: coats of arms of Filipinos in the Philippines and overseas

The Developer's Tidbits

Helpful tips for random problems

Stormfields

Christian Humanism in a Post-Modern World

Art and Liturgy

Sacred art, architecture, and the Catholic liturgy for normal people.

Rosary Collector

Learn the history of unique rosaries, center medals and crosses

Intermissions

Married Life and Leisure

Tales from the Private Sector

Private Intelligence, Cyber Security and Military History

Iglesia Ni Cristo - Silent No More by Antonio Ramirez Ebangelista

This is the Official Website of Antonio Ebangelista

Preservation in Pink

Historic preservation, coffee, community + pink flamingos

Wandering American

The life of a guy living in China and actually kind of enjoying it.

The Blog of Author Tim Ferriss

Tim Ferriss's 4-Hour Workweek and Lifestyle Design Blog

Traveler on Foot

Photo-essays and travel narratives

1catholicsalmon

Swimming upstream against the tide.

Rock in China

Underground music in China

Church Militant TV News

Truth in Catholic Reporting

HECHO AYER

Because good things were made yesterday.

Dominus mihi adjutor

The Lord is my help - a monk's-eye view of things

%d bloggers like this: