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Foreign Trade, Commercial Policies And The Political Economy Of The Song And Ming Dynasties Of China

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  • Kenneth S. Chan

Abstract

The paper presents a framework to explore the trade‐off between pro‐authority and pro‐efficiency foreign trade policy. The former is exemplified by the tributary foreign trade system in Imperial China, while the latter by the government‐supervised private foreign trade. In the Song Dynasty (960–1276), a strong external enemy compelled the monarchy to choose a pro‐efficiency trade policy to finance the army, whereas during the early Ming Dynasty (1368–1644) when China was strong a pro‐authority trade policy was favoured. During the late Ming, as the dynasty weakened, accompanied by external threats and internal mismanagement, the imperial government once again chose a pro‐efficiency trade policy.

Suggested Citation

  • Kenneth S. Chan, 2008. "Foreign Trade, Commercial Policies And The Political Economy Of The Song And Ming Dynasties Of China," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 48(1), pages 68-90, March.
    • Handle: RePEc:bla:ozechr:v:48:y:2008:i:1:p:68-90
    DOI: 10.1111/j.1467-8446.2007.00224.x
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    Cited by:

    1. Kenneth S. Chan & Jean-Pierre Laffargue, 2014. "The Growth and Decline of the Modern Sector and the Merchant Class in Imperial China," Review of Development Economics, Wiley Blackwell, vol. 18(1), pages 13-28, February.
    2. Safya Morshed, 2024. "State of forgiveness: Cooperation, conciliation, and state formation in Mughal South Asia (1556–1707)," Economic History Review, Economic History Society, vol. 77(1), pages 60-89, February.
    3. Morshed, Safya, 2023. "The evolutionary empire: demystifying state formation in Mughal South Asia (1556-1707)," LSE Research Online Documents on Economics 120982, London School of Economics and Political Science, LSE Library.

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