Chapter 14

What was the significance of the silver trade in the early modern era of world history?

The silver trade was the first direct and sustained link between Asia and the Americas. It initiated a web of commerce that slowly grew over the centuries. It also became a key commodity in world trade. Silver trade transformed Japan and Spain. Japan made good use of silver profit—created unity—industrial revolution.  Silver trade became a key commodity driving long-distance trade and offered the Europeans a product that they could produce that was also in demand in other parts of the world. Importantly, silver trade deepened the already substantial commercialization of China’s economy—fueled global commerce.