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China and the Spanish Empire

Published online by Cambridge University Press:  28 April 2010

Dennis O. Flynn  and
Arturo Giráldez
Dennis O. Flynn
Affiliation:
University of the Pacific
Arturo Giráldez
Affiliation:
University of the Pacific
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Abstract

In this article we argue that Ming China had a fundamental impact on the rise and decline of the Spanish Empire. China's demand for silver was of such magnitude that private mining profits in the Spanish Empire remained high until about 1640. The decline of these profits led to abandon production. Spain faced a deepening financial crisis due to the fall of silver's value. The loss of purchasing power from the Crown's American enterprise was inevitable and the state's relentless pressure for increased taxation within Castile and elsewhere was mandatory in order to compensate for lost external purchasing power.

Resumen

En este artículo argumentamos que Ming China desempeñó un papel fundamental en el auge y decadencia del Imperio español. La demanda china de plata permitió elevados beneficios hasta 1640. El descenso de estos beneficios llevó a la reducción de la producción y la Monarquía se enfrentó a una grave crisis financiera. La consecuencia fue una presión fiscal creciente con objeto de compensar la pérdida de los ingresos externos procedentes de América.

Type
Artículos
Information
Revista de Historia Economica - Journal of Iberian and Latin American Economic History , Volume 14 , Issue 2 , September 1996 , pp. 309 - 338
Copyright
Copyright © Instituto Figuerola de Historia y Ciencias Sociales, Universidad Carlos III de Madrid 1996

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