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Trade and trouble: What China can learn from the 1640 economic bust

In 1514, the Portuguese navigator Jorge Álvares was the first European to reach China by sea. Just over 40 years later, the Portuguese leased Macau from China for an annual rent of about 600 ounces of silver. And then, 14 years after that, the Spanish colonized Manila as the hub of their transpacific trade. By 1600, trade in Chinese goods was in full swing. China became an export powerhouse, and not for the last time.

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The full text of this article is available online at:

https://www.foreignaffairs.com/articles/china/2015-06-07/trade-and-trouble

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Sydney-based globalization expert Salvatore Babones is available to speak on the Chinese economy (demographics, growth, technology), the Belt & Road Initiative, global trade networks, and Australia-China relations. Contact: s@salvatorebabones.com