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Miracle or mirage? Foreign silver, China’s economy and globalisation of the sixteen to nineteenth centuries

Deng, Kent (2008) Miracle or mirage? Foreign silver, China’s economy and globalisation of the sixteen to nineteenth centuries. Pacific Economic Review, 13 (3). pp. 320-357. ISSN 1468-0106

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Abstract

Ming–Qing China has been seen as positioned at the very centre of the process of early globalization partly due to China's huge appetite for foreign silver for its own commercialization. The findings of this study challenge this view head on by showing that not only did China not import and use nearly as much foreign silver as commonly imagined, silver moved into and also out of China. It served at best as a secondary currency and often worked on a barter basis. The sector which retained the lion's share was the pawnshop for short-term credit mainly for consumption.

Item Type: Article
Official URL: http://www.wiley.com/bw/journal.asp?ref=1361-374x
Additional Information: © 2008 Blackwell Publishing Asia Pty Ltd
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
D History General and Old World > DS Asia
Sets: Departments > Economic History
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 06 Feb 2009 11:26
URL: http://eprints.lse.ac.uk/22575/

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