Why do the authors pinpoint 1571 as the birth of the global silver trade?

Answer 1

The authors pinpoint 1571 as the birth of the global silver trade because it marks the year when the Spanish established a direct trade route between the Philippines and Mexico, facilitating the flow of silver from the Americas to Asia. This connection enabled the widespread exchange of silver for goods, particularly silk and spices, fundamentally linking economies across continents. Consequently, it initiated a truly global trade network that transformed economic systems and influenced societal structures worldwide.