I believe that every country will face economic related problems, of course, if the country has an economic crisis, then there will be a certain impact on its subsequent development. Regarding the Daoguang depression in this title, it is an event that occurred during the feudal period of ancient China. So what about this is really an economic crisis? Or what? What is the reason behind him?
What is the Daoguang Depression
Regarding the Daoguang depression, in fact, after the confirmation of China's economic experts, it was found that it was indeed an economic crisis, and named it the Daoguang depression. This event occurred during the Daoguang years, but it was not the same as the great economic crisis as we know it today.
Because the ruler at that time was not very experienced in such an event as an economic crisis, and when an economic crisis occurred, many people did not pay attention to it, which led to his legacy problems and his influence was very long-lasting. And when measures are taken, because they cannot be solved in time, the symptoms are not cured, and the subsequent results are very catastrophic.
Many problems caused by the Daoguang depression
In the circulation market at that time, the price of copper coins and rice had undergone amplitude changes. But if you want to talk about the Daoguang depression, that is, the great economic crisis, we must start with the currency that was often used at that time. Because the coins, silver and coins used during the Qing Dynasty circulated in the market at the same time. However, the two currencies are very different to a certain extent, as the government only uses silver, but the hands of ordinary people usually use copper coins, and only use silver when it comes to large amounts of money. This led to the later flow of silver into China, and the Qing Dynasty at that time was also the country with the largest silver importer. A large amount of silver inflows have also allowed our economy to reach prosperity. But throughout the history of the time, we can see that the country with the most silver in the world was Spain.
A large amount of silver flowed into China, benefiting China, but Spain also had a monopoly on silver, but China became the biggest beneficiary of it. But why doesn't China produce silver? It is also part of the reason for its own mine. Because silver made the Qing Dynasty's wealth reach its peak during the Qianlong period, until the Daoguang period fell rapidly. Not only because of the rulers, but of course there are natural disasters. The evil is not alone, that is the truth of the saying.
Floods occurred in many areas in 1823, also because such a situation exacerbated the depression that was meant to occur. The reason for the economic depression during the Daoguang years was related to the fact that the supply of silver in the world was greatly reduced at that time, and there was no silver inflow in the Chinese market, which led to a great reduction in prosperity, and China's silver production also fell sharply.
Historical events that occurred in the same period
During the Daoguang period, many sensational events also occurred in the world. During the same period, Napoleon conquered Spain and the French Revolution broke out. That is to say, Spain was in a period of turmoil, the rule of the American colonists, which also affected Spain's own very rich silver mining.
The silver industry around the world is in short supply, but China is closed to the outside world and is unaware of this and has not been able to take any measures. This has something to do with the ignorance of the Qing Dynasty itself, which considers itself to be capable of being rich. So the news that silver can't be imported is not sensitive, and in other countries, such as Japan, silver has been banned for decades. Other countries around China have banned the circulation of silver. Therefore, China's transformation from a net inflow to a net outflow country has also plunged China into an unprecedented crisis.
At the same time, there are many countries that are falling behind at this moment, such as India's East India Company, which also aims to earn Chinese silver. For various reasons, the Qing Dynasty went downhill during the Daoguang years, and the Opium War that broke out at that time was also a key to the loss of silver.
Of course, the formation of an economic depression is not caused by just one cause, but the result of the convergence of all causes. The occurrence of any single thing is by no means accidental. It took the evolution of time, and the accumulation of unfavorable factors over a long period of time, that eventually led to a situation similar to an economic crisis. But this situation accelerated the decline of the ignorant late Qing Dynasty. This also has a certain relationship with the ruler, so this is also a warning to future generations not to be ignorant and ignorant.