Professional Documents
Culture Documents
Traditional China
• Economic Systems
• State – Society Relationships
The Maturation of the Market Economy
Maturation of a Market Economy in Ming China
• The Hongwu Emperor envisioned an economy of self-sufficient farmers.
• However, after 1500 there was commercial development across China.
• This was based on growing agricultural productivity and the growth of a
monetarized economy.
• Rural industrial developed.
• Cash crops such as cotton and silk grew and were the base.
Maturation of a Market Economy in Ming China
• Often omitted are less urban and less economically developed regions.
Granaries
• The eighteenth-century state's system for subsistence management included monthly
price reports for grains in every prefecture of the empire as well as weather and
harvest reports.