Essay Example on Europe-Asia Trade: A Vital Interaction Throughout History

Trade between Europe and Asia has been going on for a long time. This trade played an essential role in the history of Sino-European relations from the Yuan times to the Opium Wars. The trade was mainly initiated by the Emperors in Asia and the rulers in Europe. During the 16th century, China was known for exporting a lot of silver from Europe, and in return, China traded this particular commodity with porcelain, silk and later eat. During this period, China's economy was on the rise, and so was its dynamism. This is supported by the amount of silver that was coming into the region. The region's leadership is responsible for much of the growth witnessed in China. Therefore, the following study focuses on some of these leaders while highlighting their contribution to this trade.

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The Ming dynasty was one of the most significant contributors to the trade that took place in the 16th century. The main route that was used during this period was the porcelain road. It is important to note that Asia and Europe had been having trading between them for a very long time from the time of the Silk Road (Waley-Cohen). After a while, sailors discovered better and safer trading routes that operated between the two continents.

After the fall of the Ming dynasty, a new era was introduced, that of Kangxi emperor between 1661 and 1722. During this period, trading between the East and the West was improved and expanded. During the same period, European mariner traders and adventurers were looking for new shipping routes and wealth. By the 17th century, the sea trade routes had been established. Several countries in Europe, namely Britain, Portugal and the Netherlands had their eyes on China and therefore sent ambassadors with gifts from the royal courts. The Portuguese were the first to dominate the trade in the 16th century, the Dutch in the mid-17th century and the English came towards the end of the 17th century.

The primary goods that were traded in these trade routes included porcelain, silk and tea from China and wool, tin, lead, and silver from Europe. Other goods from the Asian continent were considered luxurious or rare, which meant that they were expensive relative to other goods. At that time, porcelain was only made in China. The world was still unfamiliar with the process of high firing of kaolin. Porcelain was robust, translucent and white. They gave rise to the exchange of other expensive items.

The trade of silver was very significant in the global trade, which affected the world's economy. During this period, silver had made a name for itself as one of the essential commodities of that century. Silver was also used as a means of currency. And therefore, the dynamics of the country's economy can be explained in the amount of silver imported into the country. Between 1500 and 1800, Peru and Mexico produced close to 80% of the world's silver and 40% of it went to China. The British also used it to buy exotic Chinese goods which fetched good money in the mainland Europe. Japan was also heavily invested in trading with China during the same period. It was at this level that China began the coinage business, given the fact that it had a lot of silver within the country. As a way of enforcing this particularly new mode of currency, it was mandatory to pay one's taxes in silver which meant that it played an important role in China's economy.

The Chinese are responsible for the invention of the first paper money. However, alone, the new paper money would be useless, and therefore, there was need to have commodity to back it. Coins had become a new way of trading, but unfortunately, large transactions required a lot of coins which was both dangerous and risky. At first, they created small pieces of paper with coin printed on them. Paper money also helped them have money of their own since they did not have metals of their own. The Europeans became middlemen providing China with the metals they so badly needed while getting other goods in return.

China was a silver powerhouse at some point during all these. This was because much of the world's silver was in the hands of the Chinese. According to some historians, Silver was the birth of global trade and economics. Silver was also used to defend the Toyotomi Hideyoshi attempt to take over Joseon Korea. The Ming Ministry of War was busy coming up with ways that the country transitioned into using silver as the main form of trade. Japans growth was also witnessed during the Ming era as more and more ships arrived to extract silver from Japan. The Ming China dynasty leader, Hongwu, had tried to eliminate silver from the country's economy as he feared inflation. These fears had been expressed to the Yuan dynasty. This saw the introduction and circulation of paper or baocho money. Nevertheless, silver had already taken root in the global economy.

The Opium Wars

There were several restrictions on the use of silver, but its use had popularized in Europe. The British had a high demand for Chinese tea, and therefore, there was need to trade with Asia at the risk of having a deficiency with the country. Over time, the supply of silver in Europe declined, and it became more and more difficult for Europe to buy goods from China. Trade with China was no longer sustainable as the merchants were not making enough profit from the goods they sold in the West (Mungello). In the 19th century, American merchant introduced opium to China. Soon there was a high demand for opium in China, and more and more opium dealers sought to find more suppliers of the opium drug. This made opium trade one of the most fast-moving forms of trade at this period. During the Qing Dynasty (1804 to 1820) China was exporting the silver to pay for the opium as compared to Europeans paying for Chinese goods using the same silver.

There was a need to check the amount of opium that was being traded and the only way this could take place was by regulating the consumption rate. These were some of the restrictions put in place by China because it's leadership understood the ways of the west (Waley-Cohen ). However, instead of solving the problem, a new one was created. More opium was being smuggled by the Chinese and European traders. A declaration by Daoguang Emperor that indicate the harmful effects of opium meant that there would be no more opium within the country. This meant the seizure of opium from Europe. Britain sent a naval expedition to find an end to the restrictive conditions in China, but these actions would fuel the first Opium War. The consequences of this war was the signing of the Treaty of Nanking and the opening of more ports to traders from Europe.

Works Cited

Gregory, John Stradbroke. The West and China since 1500. Palgrave Macmillan, 2006.

Mungello, David E. The Great Encounter of China and the West, 1500-1800. Rowman & Littlefield Publishers, 2013.

Waley-Cohen, Joanna. The Sextants of Beijing: Global Currents in Chinese History. W.W. Norton, 2000.