5min chapter

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When Trade Wars Turned Bloody: The Opium War with Stephen Platt

ChinaTalk

CHAPTER

The Importance of Opium in the UK

The East India Company has this fascinatingly perverse relationship with the opium trade. They produce it under a monopoly in their territories of India, then they sell it at auction to private merchants who then carry it to China and take the risk of finding a market for it outside Canton. The users of opium in China are wealthy people because it's an expensive foreign imported luxury good.

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