16th & 17th Centuries: Chinese Silver Demand Sparks Global Economy Boom
The article explores how the world economy emerged in the 16th and 17th centuries through the silver trade. The high demand for silver in China led to the discovery of large silver mines in Spanish Americas and Japan, creating a global silver trade network. This trade connected different parts of the world through land and sea routes, facilitating interactions between economies, cultures, and knowledge. However, the rise of the world economy during this time does not necessarily mean the birth of globalization.