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Economic Power In Imperial China

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Economic Power
One of the main reasons China has a boost in soft power mentioned in the previous paragraph, as Joseph Nye said, is the significant rise of economic power, which is also one of the key elements of the Chinese Dream. Considering the economic history of imperial China, there are several strong points. Start from the earliest, the Han Dynasty (206 BC-AD 220), which has a massive urbanization, huge population growth, stable currency and very importantly, the open up of Silk Road. These allowed commercial activities developed in a rapid rate at that time, and enabled the trade with Europe through the Silk Road. Han achieved a very high level of gross domestic product at that time, which was roughly equals to $450 per capita in 1990’s US dollar.

Move forward to the Tang Dynasty (618-907), another golden period of Chinese history, which has recovered from the long period of wars, with the population surpassing the Han Dynasty. China enjoyed a long peaceful period of economic development since the Emperor Taizong of Tang, one of the greatest emperors in Chinese history. Taizong regulated the market, and more importantly the taxation system; he set various standards of price and quality of certain goods, and left the market to the people.

The Song Dynasty …show more content…

The urbanization is exactly what China is experiencing since several decades ago; stable currency can be related to the efforts that the Chinese government put to stabilize and strengthen Yuan. Silk Road and “Zheng He Xia Xiyang” both refer to global trade. The system and standards during Tang Dynasty are very much alike the Chinese socialism today. The technology development during the Song Dynasty matches with how the Chinese government value science and technology. These are all elements that are included in Xi’s Chinese Dream, which China wanted and tried to

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