History response 15 16 - Assignment Example

DRUG AS A CURRENCY AND A SOURCE OF CONFLICT Although a small amount of drugs such as opium was harvested in Golden Triangle, in the 17th and 18th century, China was the main producer drug aim for international trade. Some of China’s emperors tried to tax the sale of opium in order to get revenue for to run their kingdoms and dynasties. “In China, opium was more valuable commodity both to the people and to the government,” (Hansen, Valerie, and Ken 403). It value rose to their neighboring countries or nations such as Japan, Korea, and Thailand. With increased demand and supply of the drug in addition to its value in the market, it started crippling as a medium of exchange. However, China had no single organization that had the naval power to create new target markets in other regions. This made China and it use of Opium to remain Inland medium of exchange hence was not transferred overseas.
Britain step to colonize other parts of Asia signed a new regime in international opium trading. In the 18th century, at most in China Opium has replaced silver as the currency for trade. This resulted to the depreciation of the flow of silver from India to China. Thus, when British come to Asia, they did not expect this had taken effect hence had problem with the mode of payments. With increased competition, the British followed suit and started using Opium as a medium of exchange, however, they were not the only China’s Opium supplier. American’s also sold Turkish Opium to China. Later the Chinese government tried to stop the trade of opium by implementing harsh penalties such as death. The British merchants refused to sign the agreement, but the American signed. “This lead to conflict between British trade lords, the American Merchants, and the government of China,” (466).
Works Cited
Hansen, Valerie, and Ken Curtis. Voyages in World History, Volume 1 to 1600. Vol. 1. Cengage Learning, 2013. Read More