What Are The Social And Economic Effects Of The Global Flow Of Silver In The Early Eighteenth Century

The social and economic effects of the global flow of silver from the mid-sixteenth century all the way to the early eighteenth century had many affects worldwide. Silver was the economic backbone of China, and was the main source of commodity money used, and with the rich black flint ore found at Potosi, 326 million silver coins have been taken out according to the Spanish royal records. Silver the currency used in China was very valuable among the Chinese and Japanese people alike, and it varied in the markets. In fact, the Portuguese went to Japan just to acquire silver, and from there, they would take those silver coins to China and bring back Chinese gold, perfumes, copper, porcelain, and many other luxury goods. Ye Chunji, a county