PSYCH 339 Chapter Notes - Chapter 13: Cowry, Psych, Commodity Money
3 May 2019
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Document Summary
China had strict control on ports and most of the products had to go through taxing. The complicated trade rules, taxes, and limits on port annoyed other europeans. When these rules were challenged, even by other chinese, there was uprising and more rules were imposed. English were particularly upset due to the large component that imported tea from china played in their economy. Tea was a major driver of the english system and the lack of trading ability in china led to a massive deficit because the chinese were not interested in any of the products they had to offer. They discovered opium and started finding ways to funnel that into. Since opium was illegal in china, they set up base outside of china and invoked zero liability policies and let smugglers do the rest. The opium filtered into china and eventually led to bad effects on people and the economy.
