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The far east

Back to The Far East: A.D. 1401 to 1500

China and manchuria (continued ming dynasty)

The virulent form of syphilis, supposedly generated by the interaction of Columbus' men and the Caribbean Indians, reached China about 1505. (Ref. 140 , 260 ) The population about 1580 has been estimated at 130,000,000, although drastic reduction occurred at the end of the century by plague. New crops, including sorghum, sweet potato, maize, peanuts and Irish potatoes were helping to feed the people. Commerce was stimulated by silver from the new world, received in payment for extensive Chinese exports of tea, silk and ceramics. By 1600 the state had converted almost all its revenues to money in the form of silver. (Ref. 140 , 8 , 101 ) In contrast to the West, China had no gradual rise of bourgeoisie as the nature of the state almost prohibited this. A temporary exception might have occurred at the end of this century in the development of the large iron works near Peking and the private porcelain work shops of King-to-chen and the silk trade of Su-Chu. This all stopped with the Manchu conquest in the next century. (Ref. 260 )

Throughout its history China has usually had a command economy with prices and production centrally and rigidly controlled in one way or another

Even today this central command economy continues under the communist regime and has resulted in extensive economic and social woes, as explained by Fox Butterfield in China: Alive in the Bitter Sea (Ref. 280 )
. By making large scale private accumulation of capital difficult or impossible, the pace of economic development and technological innovation was markedly restricted. Thus in this century while European countries were developing new, better and cheaper weaponry, China held fast to large siege cannons and no one had the means or motive for developing gunpowder weaponry in new directions. The resulting lag behind European military and technological development cost them dearly in the long run. (Ref. 279 )

During the Ming Dynasty, about 1517, the Portuguese arrived at Canton with their guns. Being little better than pirates the Chinese treated them as such, although the foreigners did give some aid against other pirates. The Chinese thus finally rewarded them in 1557 by allowing them to settle Macao and to govern it. The Portuguese proceeded to build great opium factories employing men, women and children, all of which brought millions of dollars yearly to the Portuguese provincial government. They were followed by the Spanish, who after taking the Philippines, moved over to take the Chinese island of Formosa after 1571. The Dutch came still later.

It was probably in this century that the compilation of the Great Herbal in 52 volumes, with information about 1,200 herbs, was completed - an authoritative work in China still today. There are many medical adaptations from Chinese medicine in the western world, including iron for anemia, castor oil, lanolin, camphor, chaulmoogra oil, ephedra vulgaris and a method of inoculation with small pox matter for immunization against that disease

These materials all came from China, but not necessarily from this 16th century
.

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
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Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
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Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, A comprehensive outline of world history. OpenStax CNX. Nov 30, 2009 Download for free at http://cnx.org/content/col10595/1.3
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