Cycles of Silver: Global Economic Unity through the Mid-Eighteenth Century

  title={Cycles of Silver: Global Economic Unity through the Mid-Eighteenth Century},
  author={Dennis Owen Flynn and Arturo Gir{\'a}ld{\'e}z},
  journal={Journal of World History},
  pages={391 - 427}
Conversion of China's monetary and fiscal systems to a silver standard led to a doubling in the value of silver in China vis-à-vis the rest of the world by the early sixteenth century. Heightened profit opportunities induced an unprecedented surge in silver production in Spanish America and in Japan. Destined ultimately for China, tens of thousands of tons of silver passed through Europe via long-distance maritime and overland trade routes. Fifty tons of silver annually also reached China via… 
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