Balishi, a form of paper money used by the song dynasty, was adopted by the Mongols after their conquest of china due to its various advantages such as its light weight and the advent of fiat money; it soon became the first paper currency to see widespread use throughout the world. Additional, the Mongols never let their conquests prevent them from trading with foreign powers; various pieces of Mongol art, such as their signature underglossed vases, were traded with neighboring powers for materials and goods that could not be produced domestically. It should be quite clear that the Mongolian economy was a fantastic example of trade and commerce in the early 2nd millennium CE. Regulation of trade was extremely important in early economies such as the Mongol empire. Free trade and capitalism as we know them are actually quite recent concepts. In order for their empire to be capable of supporting itself, the Mongolians had to regulate their trade, a daunting task due to the enormous size and diversity of their empire and its
Balishi, a form of paper money used by the song dynasty, was adopted by the Mongols after their conquest of china due to its various advantages such as its light weight and the advent of fiat money; it soon became the first paper currency to see widespread use throughout the world. Additional, the Mongols never let their conquests prevent them from trading with foreign powers; various pieces of Mongol art, such as their signature underglossed vases, were traded with neighboring powers for materials and goods that could not be produced domestically. It should be quite clear that the Mongolian economy was a fantastic example of trade and commerce in the early 2nd millennium CE. Regulation of trade was extremely important in early economies such as the Mongol empire. Free trade and capitalism as we know them are actually quite recent concepts. In order for their empire to be capable of supporting itself, the Mongolians had to regulate their trade, a daunting task due to the enormous size and diversity of their empire and its