Viceroyalty of Peru + The Silver Trade (1 janv. 1543 – 1 janv. 1824)

Description:

Spanish adopt Mit'a, which was used to build infrastructure, to mine and process silver.

Mercury made mining very dangerous

Mined over 80% of the worlds supply of silver, allowing the silver peso to become the currency of Spain and Spain to become the richest country. However, inflation eventually sets in.

Lots of silver goes to China, and China required taxes to be paid in silver, meaning that everyone had to produce something that could be sold for silver. This was often silk, leading to a price drop hurting the Chinese economy and the Spanish economy (almost every silk producer put out of business)

Effects:
*Spanish+Chinese economy inflation--> weakened govts.
*Environmental damage
*Many killed mining silver and mercury used to refine silver

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