In document 8, although the demand for luxury goods remains high, D’Avenant is concerned about the amount of silver that is leaving the country to be “buried” in China.
The increased flow of silver altered the worldwide global trading both socially and economically.
The global flow of silver from the mid-sixteenth century to the early eighteenth century caused social and economic issues by creating social impact in China, changing the economic purpose of trading, and the overall exchange between the Chinese and European nations.
Asia was attracted by the prices in Europe, making prices get higher and lead to the ruin of Spain.
The silver currency flowed right out to pay for the Asian commodities.
Reliance on silver both helped and hindered economies and societies, bringing “Chinese silk yarn worth 100 bars of silver can be sold in the Philippines at a price of 200 to 300 bars of silver” (Doc. Officials began to see China’s own failing economy, and how foreign nations were profiting.
In Spain and Portugal abundant supplies of raw silver proved an advantage in trade at this time: “The Spanish have silver mountains” (Doc.China and Europe’s exchange of goods and silver is very highly unbalanced.For Asia corrupted the European government as stated by Tomas de Mercado in document 2.Socially, China has been impacted greatly from the introduction of silver into their nation.In document 1, Ye Chunji, a Ming Dynasty county official, spoke about the differences between the “frugal” and “extravagant” man in an order limiting expenses.Also stating that the national government required large amounts of silver for taxes, but spent little to no silver for any type of government funding.In document 5, Xu Dunqiu Ming, informs people about the ways in which the way of payment has shifted over time.Although the hierarchy probably doesn’t care about their needs, they need to be accounted for to have a somewhat stabilized society.Silver DBQ Essay The global flow of silver from the mid-sixteenth century to the early eighteenth century had vast effects both socially and economically around the world.A point of view that is necessary to implement into these documents is a peasant’s point of view.This is necessary because peasants are the ones that are affected by the government, taxes, and people in the area.