The intelligentsia carne to perceive the trade with Qing negatively for the following reasons:
First. as the inflow of the silver from Japan decreased. the domestic stock of silver which was used as the form of payment also decreased sharply. As su...
The intelligentsia carne to perceive the trade with Qing negatively for the following reasons:
First. as the inflow of the silver from Japan decreased. the domestic stock of silver which was used as the form of payment also decreased sharply. As such, interpreters who primarily depended on the bilateral trade lost their means of livelihood. Other socioeconomic side-effects took place as a result of the sharp decrease in the stock of silver. The primary reason for the decrease can be attributed to the direct trade between Japanese and Qing merchants at Nagasaki. The Japanese merchants no longer were importing Qing goods through a Japanese quarter. Second, as the economy developed and grew in size. the limits to the currency system which used only Sangpyungtongbo(常平通寶) as the legal tender began to show. As a result. the socioeconomic demand for a production of currency made of silver increased. Third. a new awareness that one should not be left with financial loss when trading with another country was brought on. This appearance of new awareness can be understood in terms of a national awareness or economic nationalism based em historical and cultural awareness of the time. Lastly. the intelligentsia valued economic function and role more than anything else when evaluating economic benefits and losses of a bilateral trade. In conclusion. the intelligentsia of the time evaluated the core of the problem through analytical approach.