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by woweoe
1421 days ago
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I am not quite sure what that China comment is in reply to, but India was a major (if not bigger) destination for bullion in the ancient world, and the West had a deficit with India for most of history including the early years of the British Empire. India was probably the biggest trading partner for Europe in the ancient world, larger than China. https://www.thehindu.com/features/magazine/all-the-worlds-go... |
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Thank you for the article, very interesting read! China absorbed a lot of precious metals from Europe and elsewhere (silver more then gold as was the case with India historically). The British Empire used military force first in India and later in China, motivated in part by the precious metal deficit. And as consequent as the Raj was in the process, I mentioned China to add depth and nuance to the narrative and to illustrate that the precious metal outflow was by no means stopped by the British administration of India.