Global mine and lived in horrid conditions. The

Global commerce touched on Europe, Americas, and East Asia. The labor systems of the Spanish Andean mines, the policies of the Ming Dynasty, and the economic reach of Europeans played a role in the global silver trade. Silver deposits discovered in Bolivia and Japan attracted the Chinese government to be a source for trading fees and taxes around the 1570s.The economic and social effects occurring  in the mid-sixteenth century to early eighteenth century in Spain and China caused the production of silver to increase bringing the world together with a real global economic system establishing commercial opportunities and the Spanish “piece of eight” was the most popular currency in the world, especially in China. The amounts of goods being exchanged increased as new interactions were taking place across the Americas to Asias. To begin with, the silver trade both affected natives in Americas and the peasants in China.For example, the venerable elders in Wang Xijue’s home district explain why grain is cheap due to the scarcity of silver coin. The national government requires silver for taxes but disburses little silver in its expenditures. In addtion, the price of the grains decrease, tillers of soil recieve low returns on their labors, and thus less land was put into cultivation (doc 3). On the other hand, 85% of silver came from Spanish colonies mostly in Bolivia and Andes by which natives were forced to mine and lived in horrid conditions. The mining industry was devesatating to the local enviorment that caused a cost of pollution, deforestation, and flooding. This reveals that the Ming dynasty craved lots of silver in the 1570s and pushed the growth of the Chinese colony Furthermore, silver was brought to be the main currency globally and countries such as Spain enriching the Spanish monarchy that caused inflation and China drowning in the wealth of silver bringing avarice from Chinese. For example, China yearned for silver that the high prices ruined Spain when trading with Asian commodities and the silver currency flowed out to pay for them. In addition, when portuguese go from Macao to Japan they carry white silk, gold, perfume, and porclain and they brought nothing but silver 600,000 coins’ worth of Japenese silver (doc 2 and 4). Europeans could purchase products beacuse of the silver and flowed west to Manila(philipines).The Spanish colony  suffered and decreased its economy due to the mining of silver because the chinese were establishing greed and adapting all the silver which was a negative effect towards peasants because they could not afford silver and decreased the wealth of silver in the Americas during the 1600s. As  Chinese gained immense amounts of silver and power they elevated the costs for Asian goods for the Spanish and Japenese to pay them with more silver. The document given represents a Spanish scholar named Tomas de Mercado and suggests that the economic impact of silver trade has worsened the economy of Spain because the natives mining in the Americas are producing lots of silver and it is being taken by East Asia in return for Asian goods. With that being said they are trading silver faster than it is being able to produce and is basically going all to China. A British merchant named Ralph Finch is stating that the Portuguese is making money by trading goods with Japan, but Britain is not taking part of this globalization.  As a result, silver was taken for granted in only East Asia. Silver took part of trading goods, paying taxes, and fees across the seas. In conclusion, silver was a commonly traded item in Columbian Exchange and Ocean trade that had caused economic developments in countires and trading colonies in old and new world. Its replacement for paper currency on a global aspect had brought wealth to societies and help the economy flourish between 1550 and 1750.

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