Comparing The Trade Balance Between Mongolia And China

The political stability during the hundred years of the Pax Mongolica led to more and safer trade on the Silk Roads. Under the protection of the Mongols, goods and ideas moved between China and the

1. The Mongols really did reinvigorate cross-Eurasian trade. The Silk Road trading routes that had existed for about 1000 years by the time the Mongols made the scene had fallen into disuse, but the Mongols valued trade because they could tax it, and they did a great job of keeping their empire safe.

Trade has greatly impacted the world in many ways. Trade is the exchange of goods. People trade because they want to better themselves with things they need or want. People can also trade ideas and religions. Sea routes and land routes were most important to be able to trade.

Because of being controlled by the Mongols, the population of Russia and China were also taxed by the Mongols. For example, in Russia, the peasantry had to give up their crops to the Mongols and this led some to flee to protection of the ruling class where they would oftentimes become serfs. Russian princes were corrupt and due to the manipulation of the peasants, rulers made money and annexed other towns to increase holdings. Although in China, those in charge were not corrupt and did not tax the peasants as heavily, the peasants were still extremely affected but just not in such a terrible way. Another similarity between both of these regions is that trade was encouraged due to safe travel on the Silk Road which was re-opened. The trade route needed to be protected from bandits and thieves and travelers were at great risk if a secure route was not set in place. With the Mongols securing trade routes, this added

This was a result of China being extremely ethnocentric as shown by its nickname, “Middle Kingdom,” which means that China is the center of the world. The products that China exported before the end of trade around the world were silk, iron, and bronze (document 1). The goods that were brought into China were gold, glass, ivory, animal hides, horses, and cattle (document 1). One positive impact that this trade did have on China was that as it traded with places like India, the cultures began to mix, resulting in the introduction of Buddhism to China (document 1), which is now a very popular religion although it was not accepted at first. A negative impact of trade was the bubonic plague or

Trade in the Mongol empire, according to document 6, Persian artisans flourished. The artisans were creating constantly for the Ilkhanids who were patrons of the arts. Winemaking was thriving as the Mongols were great drinkers. The silk industry was boosted from trade with China, another part of the Mongol Empire. Pax mongolica, the peace presented by the Mongols, even declared cities and villages along the caravan routes tax free zones.

Major imports include petroleum, coal, apparel, and gas. Major exports include automobiles, electronics, plastic, iron, and steel.

The exchange between the two sides on Silk Road have contributed profoundly to the development of civilization. Through the duration of the Silk Road, many dynasties, kingdoms and civilizations have contributed immensely to the advancement of civilization, but none have contributed more than the Mongols. The same Mongols that were called the “devils horseman” that swept across Eurasia devastating and crippling civilizations and cultures in its trail. Through it openness to ideas and trade, the Mongols brought unprecedented rise to the exchange of commerce and knowledge that would reshape Eurasia and, ultimately, the world.

The Mongols’ selfish desire to conquer distant lands indirectly led to the modernization of the world. In order to globalize their empire, the Mongols created, and used, a variety of political tactics. These tactics influenced new ideas in distinct civilizations that shaped the way our world is today. The Mongolian Empire was the first to control a network of cross-eurasian trade routes: the silk road. The silk road is arguably the most effective trading network in history. The Mongols established control of all trade by protect merchants traveling along the road in return for a fee. This system encouraged global trade by eliminating the fear of being looted. This was one of the first traces to a global economy, or trade network. In addition,

Many products we use today are made in China. Trade between Australia and China has heightened in the last couple of years. China has one of the world’s largest economies. It has an increasing role in shaping the world economy, accounting for a third of the increase in the world’s gross domestic product and imports for the period 2000 to 2003 (The Economist 2004). It is also home to a population of 1.3 billion inhabitants, consuming a variety of goods from food items to luxury commodities, toys, clothing, gifts, most car parts and many more things Australia benefits from. For non-agricultural goods, Australian import tariffs are generally low. The most notable exceptions are on motor vehicles and textiles, clothing and footwear imports.

Historically, Mongols supplemented their economy by trade and raiding. Although they never developed a merchant class, they sustained themselves by trading livestock and fur for manufactured goods, and other items on The Silk Road. The nomadic lifestyle hindered their ability to be self sufficient agriculturally and settlement wise, forcing the Mongols to create strong and reliable relationships with their neighbors. Therefore, the Mongols participated in trade networks, including the Silk Road. This tranquil, safe, and prosperous period of trade under the Mongols is known as the Pax Mongolica(Abu-Lughod). Under Mongol rule, the Silk Road saw the establishment of more routes than ever before. The routes served as a benefit to those who were conquered since they were able to participate in trade with more ease and security. Consequently, the Mongol’s role in the expansion of trade can also be seen as detrimental due to their spreading of the Black Plague. Mongol armies and traders were responsible for carrying the plague from Central Asia where

The population of the Asia region of the world contributes a massive amount of exporting goods, and global business as a whole. The sheer number of people consuming goods that must be imported to support the large population force the need for trade with other regions. The demand for resources is high and the need to develop strong trade relations with other countries is vital to the continued growth and success of Asian countries.

The United States and China share the most imbalanced bilateral trade relationship in the world. The United States imports more goods from China than it exports to a tune of $202 billion dollars each year. All told, China alone accounts for nearly 26% of the

In terms of geographical breakdown of exports, China's major trading partner is Asia accounting for around 51 per cent followed by USA 22 per cent and Europe per cent.

Since World War II, International trade has gained a rapidly increasing speed due to sustained and high-speed economic development in the world. In other words, countries’ degrees of openness and total volumes of import and export have enormously increased. In this paper, I will focus on the effects of accession to the WTO on textile trade between China and U.S, test comparative advantage theory (the main idea is that, under some conditions, when two countries start free trade, a country will produce and export the good which is in comparative advantage due to lower opportunity cost). Because of textile industries’ labor-intensive property, as the country with the largest amount of labor force, China is likely to have a comparative advantage in textile production. Therefore, it can be reasonable to conjecture that an increase in China’s export of textiles would occur after trade barrier eliminations on account of its WTO membership. In order to test my predictions, I will use regression analysis to test several variables such as Balassa Index (measure comparative advantages), Openness Index and total volume of textiles trade, then explore whether the WTO membership influences textile trade between these two countries.