Ming emporors dissalloud forign trade.
European manufactured goods were generally of lower quality than Chinese goods.
European manufactured goods were generally of lower quality than Chinese goods.
Silk and Tea.
It will reduce the disposable income or fall in income.When the income is fall so that it will cause reduce in purchasing power.As the result,consumer will purchase domestic goods and less of the imported goods can be afforded.
Current account is defined as the sum of the balance of trade, net current transfers, and net income from abroad. The balance of trade is services and goods exports less imports.
Silk and other goods.
European manufactured goods were generally of lower quality than Chinese goods.
European manufactured goods were generally of lower quality than Chinese goods.
Opium
they traded silk for gold and other goods !
silk, tea, porcelain
European manufactured goods were generally of lower quality than Chinese goods.
Westerners gained trading rights in China during the 1800s following the Opium War. China was a prosperous country that produces all the goods the citizens needed. The Chinese felt European goods were shoddy, and they had little interest in trade. The British were determined to find a product the Chinese would want to purchase in large quantities. The answer was opium, but the Chinese government tried to stop the trade. This led to war.
British citizens were granted immunity from Chinese laws. The Chinese had to open five ports to foreign trade.
The conditions of the Treaty of Nanjing was that China was forced to give up the island of Hong Kong to Great Britain.
Silk and Tea.
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