Respuesta :
The silver trade benefitted nations that dominated the trade economically and harmed the economies of Spain and China. It socially changed the lives of the indigenous miners in America and the Chinese peasants.
The Ming government in China required their taxes to be paid in silver. This was because Silver expanded trading connections with Asia. This caused inflation, and this had a negative effect on the labor class whose life hardened. The price of grain fell because of the scarcity of silver and this caused lower wages for the laboring class which meant less land is put into cultivation. Silver formed the basis of Asian and European trade. European economy heavily depended on this trade. They loved luxurious goods and spices which Asia was known for and Silver was the primary product used for trade with Asia. China's traditional beliefs were threatened.
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