China had dominated trade in Eurasia since the first century C.E., and in the fifteenth century possessed the worlds most impressive navy. What were Chinas economic advantages and why didnt it continue in its position of global economic dominanc - Essay Example

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It still remains a mystery to see China rise from great economic turmoil to being the second biggest economy judging by its gross domestic product, after US. Today, China dominates over the once economic giants. China’s economic breakthrough has had a number of challenges…
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China had dominated trade in Eurasia since the first century C.E., and in the fifteenth century possessed the worlds most impressive navy. What were Chinas economic advantages and why didnt it continue in its position of global economic dominanc
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Extract of sample "China had dominated trade in Eurasia since the first century C.E., and in the fifteenth century possessed the worlds most impressive navy. What were Chinas economic advantages and why didnt it continue in its position of global economic dominanc"

Download file to see previous pages This essay aims at looking at some of the factors that led to China’s rise in both commerce and military ability in Eurasia in the 14th and 15th century and why it had advantage over other nations that traded together with it. It will also strive to explain some of the factors that eventually led to its downfall, and getting farther from achieving the global economic dominance. The first factor that made China thrive economically and militarily was the presence of the Mongols in China who invaded the nation and took control of its administration under the Yuan dynasty. Before the emergence of the Mongols who conquered China, the Chinese were not very active in trade. In fact, trade was much discouraged by their ruler under Song Dynasty, and thus they only received goods they wanted through an elaborate system of tribute. When these Mongols eventually conquered China, the nation began trading with the outside world. This led to trade expansion not only in China but also opened room for trade in the outside world (Deal 129).
The Mongols promoted trade in China by offering security to caravan traders who were moving long distances for exchange of goods and services. They guarded the path which cut from Asia to Russia hence ensuring safety of caravans from robbers who instilled fear on the earlier traders. The Mongols were united under Yuan and were well organized both in war and in trade. Their emergence reshaped China, rising from a humble nation to one that caught the world’s attention with its commerce and highly advanced technology.
Added to China’s advantage was the fact that it had a large population which provided labor and ready market for its produced goods. Its population offered a great advantage to traders who channeled their goods to China since there was large market with willing buyers and willing sellers dealing in silk and ...Download file to see next pagesRead More
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