Chapter 28: 28 Cotton

Su Yanqiao, accompanied by Zhu Wencong, arrived at the Chinese Business Association, which should be the half-official institution of the Manchu Qing in America.

Eastern merchants favored the status of top merchants, as only power could guarantee one's wealth.

At present, the Chinese Business Association was responsible for the traditional three: tea, silk, and porcelain, and it was also involved in the trade of Piglet.

Since the Manchu Qing knew nothing about tariffs and maritime trade, these foreign traders were making a killing.

Later, the Englishmen wouldn't have it; they directly sent commissioners to take control of the Manchu Qing's customs duties and offset the indemnities of various treaties.

The two Opium Wars were fought to reverse the trade deficit, as all the world's silver was flowing toward the Ming and Qing dynasties.

After the wars ended, the Manchu Qing lost its advantage in foreign trade and gradually fell into a silver panic domestically.