How did the Opium Wars affect China's economy?
1 Answer
Aug 1, 2016
China was self sufficient without the need for Foreign goods before the opium wars allowed the British market opium inside China.
Explanation:
Previously foreigners to pay for Chinese goods in Silver. After the Opium wars they could pay in Opium or other trade goods and with the signing the "Unequal Treaties" China was forced to open many ports to foreign trade and allowed Foreign Legations in Beijing.
Addiction to opium became common and the Chinese economy was devastated.
Chinese Tax payers still had to pay taxes to the Government in Silver.
