FOREIGN TRADE, COMMERCIAL POLICIES AND THE POLITICAL ECONOMY OF THE SONG AND MING DYNASTIES OF CHINA |
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Authors: | Kenneth S Chan |
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Institution: | City University of Hong Kong |
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Abstract: | The paper presents a framework to explore the trade-off between pro-authority and pro-efficiency foreign trade policy. The former is exemplified by the tributary foreign trade system in Imperial China, while the latter by the government-supervised private foreign trade. In the Song Dynasty (960–1276), a strong external enemy compelled the monarchy to choose a pro-efficiency trade policy to finance the army, whereas during the early Ming Dynasty (1368–1644) when China was strong a pro-authority trade policy was favoured. During the late Ming, as the dynasty weakened, accompanied by external threats and internal mismanagement, the imperial government once again chose a pro-efficiency trade policy. |
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Keywords: | N45 F02 N00 |
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