2012 New History
P. O. Box 1-44, Nankang, Taipei 11529, Taiwan, R. O. C.
02-2782-9555 # 226

Gold and the Formation of An International Monetary System in Ancient China

Yeng-liang Chen

Assistant Professor, Department of History, National Dong Hwa University

This paper examines the monetary system of the international market system in the period of Eastern Chou to determine its significance in economic history. As is widely acknowledged, a market economy flourished to a degree during this period. There were also many monetary areas including Pu of Chin, Tao of Ch’i, Ch’ien of Chou and Ch’in, and so forth. But international monetarization and trade was still limited until the period of eastern Chou, when international gold transactions led to the construction of large-scale markets. Moreover, through monetary maneuvering over international politics, its access to gold paved the way for Ch’in to conquer the other six large countries to its the east.


Keywords: Monetary System, Gold, Eastern Chou, International Markets, Market Structure