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Earl J. Hamilton's multiple theses on the price revolution, the decline of Spain, and the birth of capitalism have all placed American silver (and gold) at the forefront. This essay supports Hamilton's emphasis on the impact of New World treasure on the decline of Castile, but from a different angle. Mining profits rather than the quantity of imports supported the empire. When the profits dwindled, as was inevitable, international superiority was begrudgingly surrendered to the emerging powers of the north.

Abstract.  Globalization began when all heavily populated land masses began interacting – both directly and indirectly via other land masses – in a sustained manner with deep consequences for all interacting regions. Globalization emerged during the sixteenth century. Dynamism emanating from within China played a pivotal role. Valid hypotheses concerning globalization's emergence must accommodate evidence from numerous disciplinary debates. Discussion of globalization's birth in terms of economic issues alone – for example, O'Rourke and Williamson's price convergence of the 1820s – is doomed. The central role of economic history – including Chinese economic history – becomes salient when arguments are formulated in the context of a multidisciplinary, global historical narrative.

Starting with the 16th century trade of Latin American silver and Chinese silk, leading researchers trace the economic, environmental and social history of the Pacific region. Chapters examine the trade of diverse commodities within the Pacific and analyse the ecological and social impacts of this increasing economic activity. The strong Chinese marketplace emerges as crucial to early Pacific development, and is compared with Japan's central role in the region's modern economy

Preliminary Material /Tsukasa Mizushima , George Bryan Souza and Dennis O. Flynn -- Introduction /Tsukasa Mizushima , George Bryan Souza and Dennis O. Flynn -- Hinterlands, Commodity Chains, and Circuits in Early Modern Asian History: Sugar in Qing China and Tokugawa Japan /George Bryan Souza -- Hydraulic Metaphor: A Model of Global and Local Connectivity /Dennis O. Flynn and Marie A. Lee -- The Dynamics of Port-Hinterland Relationships in Eighteenth-Century Gujarat /Ghulam A. Nadri -- Ports, Hinterlands and Merchant Networks: Armenians in Bengal in the Eighteenth Century /Bhaswati Bhattacharya -- Linking Hinterlands with Colonial Port Towns: Madras and Pondicherry in Early Modern India /Tsukasa Mizushima -- Maritime Asian Trade and Colonization of Penang, c. 1786–1830 /Tomotaka Kawamura -- Toward a Transborder, Market-Oriented Society: Changes in the Hinterlands of Banten, c. 1760–1790 /Atsushi Ota -- Hinterlands and Port Cities in Southeast Asia's Economic Development in the Eighteenth Century: The Case of Tin Production and its Export Trade /Ryuto Shimada -- Trade and Crisis: China's Hinterlands in the Eighteenth Century /Ei Murakami -- Bibliography /Tsukasa Mizushima , George Bryan Souza and Dennis O. Flynn -- Index /Tsukasa Mizushima , George Bryan Souza and Dennis O. Flynn.

Trade across the Pacific will be one of the dominant forces in the economy of the next century. This collection reflects the birth of Pacific Rim history, until recently largely neglected. It addresses the development of the Pacific Rim over four centuries, combining broad historical syntheses with a range of essays on specific topics, from trade with Hong Kong to British overseas banking. It will form a major contribution to this rapidly expanding new field

Cover -- Half Title -- Title -- Copyright -- Contents -- Acknowledgements -- General Editor's Preface -- Introduction -- PART ONE - THE GALLEONS IN A LARGER CONTEXT -- 1 Geographical Exploration by the Spaniards -- 2 The Relations of the Chinese to the Philippine Islands -- PART TWO - INITIATING THE GALLEON TRADE -- 3 The Mediterranean Connection -- 4 Crusade or Commerce? Spanish-Moro Relations in the Sixteenth Century -- 5 Spain and Spanish Trade in Southeast Asia -- 6 The Japanese Trade and Residence in the Philippines: Before and During the Spanish Occupation -- PART THREE - IMPACTS OF THE GALLEON TRADE THROUGH THE SEVENTEENTH CENTURY: THEORY AND EVIDENCE -- 7 Plata es Sangre: Sidelights on the Drain of Spanish-American Silver in the Far East, 1550-1700 -- 8 Le Galion de Manilie: Grandeur et décadence d'une route de la soie -- 9 Las Conexiones e Intercambios Americanos con el Oriente Bajo el Marco Imperial Español -- 10 The Chinese Silk Trade with Spanish-America from the Late Ming to the Mid-Ch'ing Period -- 11 Arbitrage, China, and World Trade in the Early Modern Period -- PART FOUR - FURTHER IMPACTS OF THE GALLEON TRADE -- 12 Eighteenth Century Philippine Economy: Commerce -- 13 Aventuras asiáticas del peso mexicano -- 14 Two and a Half Centuries of the Galleon Trade -- Index