How The Opium Trade Destroyed China’s Greatest Empire | Empires Of Silver | Absolute History
Absolute History
58 min, 33 sec
The video explores the profound influence of silver on global trade, particularly between China and the West, over several centuries.
Summary
- Silver discovery in the Andes leads to demand in China due to tax reforms mandating silver for tax payments, causing a shift in global value favoring silver over gold.
- The exchange of silver and goods between China and the West gives rise to the modern global trade network and significant economic and cultural impacts.
- The British opium trade in China, in exchange for tea, drains China's silver and leads to the Opium Wars, culminating in the Treaty of Nanking and the ceding of Hong Kong to Britain.
- The decline of China's global economic dominance follows, marked by Western exploitation and internal strife, which reshapes China's role in the world.
Chapter 1
Discovery of silver in the Andes mountains sparks significant global trade interest, particularly in China.
- Settlement high in the Andes houses the world's purest silver, discovered in 1581.
- China's Emperor decides to adopt silver for tax payments, creating a huge demand for the metal.
- Silver becomes more valuable than gold in China, transforming global trade.
Chapter 2
Silver from Spain meets China's tax demands, influencing the world's economy and initiating global trade.
- The exchange of silver for goods links the entire world into a global network for the first time.
- China's Emperors leverage silver to become the most powerful men on Earth.
- The Chinese Merchant's silver funds America's Industrial Revolution.
Chapter 3
China's dominance in global trade attracts British interest, leading to a significant trade mission.
- China's 18th-century global economic and cultural dominance, under Emperor Chen Lu, makes it a global trade leader.
- Lord McCartney's British trade mission in 1792 aims to negotiate better trade terms with China.
- Despite Britain's industrial rise, the mission fails, leading to a negative shift in British views on China.
Chapter 4
The opium trade escalates tensions between China and Britain, leading to the Opium Wars and the Treaty of Nanking.
- Britain finds opium as a trade product for tea, leading to widespread addiction in China and silver outflow.
- China's anti-opium stance triggers the Opium Wars, with Britain demanding compensation for destroyed opium.
- The Treaty of Nanking ends the war, ceding Hong Kong to Britain and marking the start of China's 'Century of Humiliation'.