The Silver Trade : The World 's First True Global Trade System

1080 Words Sep 25th, 2015 5 Pages
Before gold was considered the most precious metal, silver was the most sought after good. The silver trade was the first global trade network and it dominated for thousands of years.Unlike the trade during the southernization time period, the silver trade included the newly discovered Americas. The main silver trade occurred between Asia and Europe with silver coming from all over the world. The Silver trade had both positive and negative impacts on the areas involved; the large quantities of Silver all over the world caused inflation in many places, including Spain and other parts of Europe, while other areas, such as china, became rich.
The great silver trade is considered to be the world 's first true global trade system. This trade had many positive benefits on those who participated in it. The people who benefited the most from this trade was the chinese (doc. 2, 4, and 8). The Spanish scholar Tomas Mercado wrote that “silver currency flowed out [of Spain] [...] in Chinese ships coming to get silver for China” (Doc. 2). The silver of the silver trade didn’t come from China however that’s where most of it ended up (doc. 2, 4, OD 1). Ralph Fitch, a British merchant, stated that the portuguese “have a ship that goes to Japan every year and brings back more than 600,000 coins’ worth of Japanese silver. The Portuguese use this Japanese silver to their great advantage in China” (doc. 4). In “Maritime Silk Road” by Li Qingxin, he discusses how most of the world 's silver…
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