Jonathan Chan

Historical rupture: an analysis of the Spanish-Chinese silver trade, 1570-1640

Started Nov. 21, 2023

Abstract or project description

This article discusses the background of the Spanish-Chinese silver trade, particularly the failure of paper currency, which led to outsized demand for silver in China. From there, it dissects the impact of the silver trade on Southeast Asia, China and Spain, while also analyzing its role in the ongoing process of globalization. By using the historiography of the silver trade and examining the historical events through the lens of economic and global history, this article will combat the orthodox, Eurocentric narrative of the trade between China and Europe being driven by European demand for Chinese goods rather than Chinese demand for silver. Moreover, this article will show that the established Anglo-American histories of globalization only occurring from the eighteenth century onwards are flawed and overlook the significance of the silver trade in a global context.