...The Silver Trade The Silver Trade was a large, and popular process that began in the mid-sixteenth century that lasted for a very long time. It had major impacts on countries like Spain, Japan, and China. These countries had many social and economic changes that would change the people and the government. Silver was very valuable during these times, and caused economic changes, like decreasing the value in grain, and allowing the Portuguese to excel economically during these times. Despite the economic changes, there were many social changes like causing the Indians to work vigorously in silver mines. These economic and social changes the silver trade caused helped shape society into what it is today. A big social change that occurred from the Silver Trade was the demand for more Silver, and on how important it was. For instance in document 4 He Qiaoyan, a ming dynasty court...
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...During the mid 16th century to the 18th century, social and economical effects, in regions such as Europe, where trade with the world increased, and Asia, where the people started using silver for payment instead of other goods, became present due to the rise of production and global trade of silver. In the documents by people from the Ming, which are the documents by Ye Chunji [doc 1], Wang Xijue [doc 3], and He Qiacyuan [doc 7] show the changes in the economy of China. In the documents by the people of Spain, which include Tomas de Mercado [doc 2] and Antonio Vásquez de Espinoza [ doc 6] show the differences in the pricings and accepted currencies occurring. In the documents by the British, which are by Ralph Fitch [doc 4], and Charles Avenant [doc 8], show the major changes in world trade....
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...America and Tokugawa Japan were the leaders of the silver production. The Ming Chinese government made it mandatory for all taxes and trade fees to be paid for using silver in the early 1570’s. Because of this, many changes came about, which involved social and economic changes to the flow of silver. Changes occurred that changed the way silver was used and thought about during this time. This included increase in trade, adjustment of price, and self-centered use of silver. Documents 4, 7, and 8 describe the increase in trade during this time period. Document 4 written by Ralph Fitch talks about the different merchandise that was received from many places through trade. This included silk,...
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...Timothy Brook in his book Vermeer’s Hat demonstrates seventeenth-century trade and attributes the networks formed in its efforts, to the dawn of globalization. Brook strategically picks pieces done by the infamous Dutch painter Johannes Vermeer to depict the effects of trade on people. Brook gives compelling accounts of traders in their endeavors bringing the paintings alive in every story. The author chose to represent the changes in local values and customs of trade using seven paintings of Vermeer. Brook explains these issues using short stories that tell tales of brave merchants and great kingdoms that resolved to overcome these challenges for the sole purpose of trade also he talks about how certain commodities impacted a large amount of people everywhere around the world. certain commodities change local values and customs. Porcelain, tobacco, and silver were some of the most popular commodities being exchanged during that time periods....
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...world in silver production. All domestic taxes and trade fees were to be paid in silver for the Ming Chinese government. This caused social and economic effects on the world. Peopled suffered because of this new form of payment, trade took its place in the economy, and many governments became greedy with the silver. The governments became greedy with the silver and wanted to keep it all for themselves. In doc. 3, Chinese government didn’t disburse much silver to its people, yet they required the people to pay heavy taxes.There was no money to pay for grain or to even harvest it, therefore less land was put into cultivation and agriculture pummeled. In doc. 6, the Europeans worked...
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...The Atlantic Trade Networks, also known as the Triangular Trade, consisted of multiple international networks where goods and materials became interchangeable between countries and regions around the world. The Triangular trade amended previous complication involving trade imbalances and created a unified, connected world through the means of trade. The Atlantic Trade created a new global network that drove a new form of a global economic system and impacted multiple countries through the commerce of silver and fur. Silver impacted the countries of China, Japan, and Bolivia while the fur trade changed the economic and social structures of North America and Russia. The economic structure, political system and agricultural system...
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...From 1500 through 1750, the global flow of silver socially and economically affected Tokugawa Japan, Ming China, Spain, the Spanish Colonies, and Portugal. The global flow of silver negatively and positively affected the economy of Tokugawa Japan, Ming China, Spain, the Spanish colonies, and Portugal. Document 1 claims that the richer someone is the greedier he becomes. For example, Spain’s abundance of silver attracted expensive Asian commodities, which Spain greedily and lavishly bought, resulting in Spain’s bankruptcy (doc 2). Kingdoms also suffered from inflation, which is silver, in this case, being less valuable in the places where it is more bountiful. For example, in the Philippines, which have a plethora of silver, Chinese silk yarn costs 200-300 bars of silver;...
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...century, the global flow of silver socially and economically affected many peoples including the British, Spanish, Portuguese, Chinese, Japanese, and even Native Americans in many positive and negative ways. Group one contains documents 2, 5, and 6, the focus of which being the negative effects of silver on generally low class people. Document 2 was written by a Spanish scholar to inform merchants of high silver prices in Asia that cause Spain to lose silver to China, resulting in trade imbalance. The scholar, Tomas de Mercado, spotlights the inflation in Spain but is disconcerned with high prices in Asia. In document 5, a Chinese writer’s article to the general public describes the changing economy. After switching from a barter system to a system that focuses on silver coin, the lower classes’ access to goods seems to be more limited. Document 6 focuses on a Spanish priest, de Espinoso, who wishes to inform the Spanish interested in the Caribbean of negative consequences in the colonies of the New World. As a priest, he’s concerned with moral issues...
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...Spanish Colonial America took control of the silver production. The government would take people’s money by obligating them to pay tax fees and domestic services in silver. By doing so it caused several issues to disperse both economically and socially. Individuals began to struggle financially because of the government’s necessity towards their silver (documents 3, 5, and 6). High officials also felt the need to take the people’s money in order to benefit them and the population itself became obsessed in obtaining luxurious items; they both grew to become greedy (documents 1, 7, and 8) and trade was economically impacted as well (documents 2 and 4). In documents 3, 5, and 6 showed that...
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...The first truly global trade system, centered on one sole product, one that in no time would become so powerful, high on demand and connect people of Asia, Europe, The Americas, and Africa, silver. Spanish Colonial American and Tokugawa Japan, were the ones to lead into the silver production. However the urge for silver in Ming China was why it all began. The source of economical and social change was due to the flow of silver from the 16th to 18th century, causing major effects such as inflation, deflation, alteration on consumer's and producer's’ relationship. Enormous deposits of silver were found in Spain “So huge is the wealth that has been taken out at of this range that according to most accounts in the Spanish royal records, 36.000.00 silver coins have been taken out” said Antonio Vasquez, a spanish priest(Doc 5). Little did they know that what once was an undeniable victory for the Spanish would soon become its economic instability.Silver was far from rare in Spain, “The Spanish have silver mountains, which they mint into silver coins”(Doc 6). Nevertheless, its same overabundance of silver was the cause of inflation.Spaniards soon began to feel the effect of it when everyday necessities became overpriced....
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...be that fiat currency is more beneficial in intercontinental trade (Zaleski 2). Zaleski and Hilton have written numerous articles, focused on politics and economy. This disadvantageous aspect of a gold standard monetary system could be a deterrent to converting to a gold standard medium of exchange. According to Zaleski, it is unlikely that currency medium of exchange will convert to a gold standard monetary system. This is demonstrated by this quote; "Returning to the gold standard is like tipping at Wind Mills. It may be noble goal but will never happen." (Zaleski 3). It is explained in Sanders article that there are several advantages to using fiat currency as a medium of exchange. One advantage would be that federal institutions and banks would have the opportunity to administer variables such as liquidity and credit supply (Sanders 2). This could be an account of why fiat currency could be a more beneficial medium of exchange. One disadvantage to fiat currency would be its rate of value. Fiat currency is decreasing in value at a dangerous rate, (see Appendix I). It is explained in Clouds article that each medium of exchange has its advantages and disadvantages. It is explained in Amadeo's article that a beneficial aspect of using a gold standard monetary system would involve its stability of value and economic righteousness (Amadeo1-3). Amadeo explains that "It provides a self-regulating and stabilizing effect on the economy" (Amadeo 1). She then proceeds by explaining that...
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...4. Silver Fiddle Case Risks and mitigations Not meeting the five-month time estimate is another risk that may be encountered. Lack of labor and equipment might be a problem because other houses are to be built. It will be advisable to evaluate the sequence in which these building activities will occur, and distribute resources evenly across each house. Silver Fiddle could apply Heuristics, or the rules of thumb to create a framework work for allocating resources in such a situation. A contingency plan will be to lease or hire additional equipment to augment the ones the company already has. A shortage of building materials is another risk that is possible. Supplies may run short due to the fact that Silver fiddle has many other homes to build. I would suggest purchase of building supplies in large quantities, and store them, pending when they will be needed. Since Silver Fiddle is scheduled to build 11 homes this year, there might not be many available subcontractors to work on the Czopek’s home. Silver Fiddle will do well to develop a detailed time estimation based on parametric procedures. This will ensure that particular local trade professionals will be available when needed, well in advance. As a backup plan, alternate subcontractors outside the area that are sure to be available within the stipulated time, should be contacted. The book keeper in this construction company is employed only on a part time basis, and this...
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...(Elba) UID: 2010801799 Curriculum: LLB Final Word Count: 1,781 words Seven Paintings, One World Introduction: an interesting historical book Thrilled and wistful, I closed the book of Vermeer’s Hat, wondering how Timothy Brook, the author, can depict the 17th-century 1 world trade history in such an unexpected manner! Seven artworks are carefully selected, including five paintings from Johannes Vermeer2. Details in each of them open up a door for us to seek the path of widely transported commodities, furthermore, to generate a complete view of the globalized trade during that period of time. In this article, I will start with identifying two major arguments the author raises, with explanation from book contents: globalization takes form early in 17th century and China plays a major role in such trend. What follows is an analysis on the writing method. Then I will focus on the evaluation of the two arguments, talking about the favorable related theories as well as objections or complements. Central arguments: emergence of globalization in 17th century & China’s role in it The first argument conveyed in the book is, early as 17th century, the world was already closely connected together and the effect of connection penetrated into daily life. Using the metaphor of Indra’s net3, Timothy introduces multiple pearls, which weave and string the entire world together. One shining pearl is the objects he finds in the paintings. In officer and laughing girl, an extravagant beaver...
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...trading posts to commercialize the silver brought from the colonies in the New World (Mexico and Peru), in exchange for porcelain and lacquer as well as spices. On the other hand, Spanish missionaries were also determined to convert to Christianity the people from Asia. The outcome of the introduction of huge amounts of silver into the economy in Asia, in particular in China, affected profoundly the economy. The introduction of the Manila Galleon trade magnified this effect. Ming China was transformed into a dependency on the export of luxury goods for silver, and that dependence was the downfall of the Ming dynasty, which was one of the most powerful governments of the region. Japan. Japanese people were less impressive than Chinese and the rest of Asia, but were also very curious and willing to learn. After missionaries started arriving to Japan, their influence was considered disruptive and a limited accessibility was allowed. Europeans seemed dirty to the Japanese, which were used to daily bathing as a purification ritual. The main ports of trade were located in Nagasaki, Osaka and Edo. Japan was in a process of recent reunification and reestablishing order in social, political, and international relations. After observing the colonization of the Philippines by the Spanish, the Japanese political leaders were suspicious of the missionaries, regulating the missionary activity (page 247). Japanese leaders then proceed to prohibit trade with Western nations, reaffirming...
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...Blaut... CH. 4 We now know: - Capitalism was developing evenly throughout Africa, Europe and Asia before 1492. - This process was called by Blaut: “Proto-capitalism.” So capitalism does not appear out of nowhere. It shifted its center from Indian Ocean to Europe = continuous process. Industrial revolution started later: symbolically situated in 1688 (overthrow of King James II in England by Parliamentary group) So... How did Capitalism develop more in Europe after 1492? - This is the main question of the chapter. Why did Europe discover America? Myth of adventuresome superiority in Europe. - Based on internal characteristics of Europe and giving no credit to non-Europeans. But they were trading in maritime centers just like everyone else. Technology superiority of Europe? Others had traveled long distances. Inventions were criss-crossing and Europeans did not have technological superiority in navigation. So why...??? Special progress in Europe? Nop... Europe in 1492 was “sluggish”. - Economic growth was slow and most likely negative. - Urbanization process was slow. In 1 or 2 decades progress and economic growth started to rise. - - Why??? So Why??? Geographic location. - Europe was simply closer to America and this was an advantage. Sailing conditions were better: winds were favorable. West-African traders...
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