The Columbian Exchange was the most important event to drive the global economy from to During the Exchange, many economics were affected and changed. One major effect was the introduction of cash crops to the new world to boost Europe's economy. Another major effect was New World and Japanese silver created a world trade network and silver-based currency. Slavery also became a major part in the Exchange and was efficient in silver mining and cash crop farming. This had a negative effect on the lower classes ability to purchase items because they had to borrow silver from the moneylenders, leaving them in debt Doc 4.
Global Flow of Silver Dbq
Effects Of The Global Silver Trade Dbq - Words | Cram
Document Based Question DBQ : Global Flow of Silver During the mid-seventeenth century and early eighteenth century, many events occurred along with the global flow of silver bullion. Silver DBQ Essay The global flow of silver from the mid-sixteenth century to the early eighteenth century had vast effects both socially and economically around the world. By this time an interregional trade network had been clearly established and world trade was booming. When China, a prominent trade nation, accepted silver as its currency and would only exchange for it, the importance of silver increased. This new rapid scramble for silver proved to be both beneficial and disastrous. The global flow of silver managed to redefine the social structure in many societies, as well as dramatically altered the basis of the economy in many European and Asian countries.
Effects Of The Global Silver Trade Dbq
The Spanish, and the japanese served as providers of silver to the chinese economy. The huge influx of silver brought many economic problems in both Spain and China. Pepin III initiated the usage of the silver coin. As European exploration of foreign lands intensified during the sixteenth century, silver earned a high-ranking position on the global market as one of the most economically valuable natural resources in the world. The availability of silver increased and its popularity prompted the opening of new European and South American mines.
In the article "Who's Driving? The Birth of World Trade: Silver and " a section reads; "The demand for silver was so high in China that European merchants exchanged it for Chinese gold, which they later traded profitably for more silver as well as luxury goods in Japan". Silver and gold was precious to everyone and helped trade between Asia and Europe.