In previous researches, I stated that Ortoq merchants noted silver trade with the West, so relatively cheap silver of China flowed out. However in this paper, I addressed that Chinese silver flowed into Southeast Asia by marine trade in Yuan Dynasty. ...
In previous researches, I stated that Ortoq merchants noted silver trade with the West, so relatively cheap silver of China flowed out. However in this paper, I addressed that Chinese silver flowed into Southeast Asia by marine trade in Yuan Dynasty. Consequently at the end of Yuan Dynasty, China suffered from lack of silver severely, thereby it is estimated that in Tribute trade system in Ming Dynasty, China prevented foreign voyage from sailing. So in the economic aspect, if we look for establishment ground, for Tribute trade system in Ming Dynasty, the legacy of Yuan Dynasty could be in its ground.
Meanwhile in case of Koryo Dynasty, neighboring China, silver flowed into China. This shows that domestic price of silver in Korea was lower than Chinese’s price. Therefore at the end of Yuan Dynasty, silver price in Korea jumped up. As You see, in Yuan Dynasty, Korean silver flowed into China, and Chinese silver flowed into The West or Southeast Asia again. Moreover because of the establishment of Tribute trade system in Ming Dynasty, foreign trade of Chinese merchant was forbidden so the supply of Chinese silver to the Southeast Asia was interrupted. Consequently, interestingly, silver coin of this area faded away and copper coins of China were used.