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T’ang and Sung China with Peter Bol

Conversations in World History

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The Economic Hierarchy of China

In the 7th to 10th century, China's economic hierarchy was based on administrative structures. By the 11th century, commerce is becoming more and more independent; government doesn't try to control it. For first time in Chinese history, a majority of state revenue is coming in in cash rather than agricultural goods. The money supply by the end of the 11th Century has grown 30 times over its current value. Commerce is wealth is doing more because people are wealthier.

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