Opium Trade

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Zhu Suยท 2025-08-01 11:52
One reason why Qing China banned opium imports is subtle. The British Empire Anglo-Indian traders accepted primarily silver as payment for opium. As demand for opium grew, so did demand for silver, and as silver rose, families began to hodl it fervently, withdrawing it from supply. This caused extreme stress to the economy as taxes were denominated in silver as well. Qing China hoped that by banning opium imports they could stem the rise in domestic silver prices. ...