China and the Spanish Empire

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ISSN: 0212-6109
ISSN: 2041-3335 (online)
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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.
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.
China dinastía Ming, Plata, Imperio Español, Ming China, Silver, Spanish Empire
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Revista de Historia Económica / Journal of Iberian and Latin American Economic History (Second Series) / Virtual Special Issue / 2020, 31 p.