Global silver trade from the 16th to 18th centuries 1500 to 1800, Mexico and Peru produced about 80% of the world's silver with 30% of it eventually ending up in China (largely because of British merchants who used it to purchase exotic Chinese commodities). In the late 16th and early 17th century, Japan was also exporting heavily into China and the foreign trade at large. As has been demonstrated, China dominated silver imports. The market value of silver in the Ming territory was double its value elsewhere, which provided great arbitrage profit for the Europeans and Japanese. The abundance of silver in China made it easy for the country
Early modern Britain John Brewer introduced the third approach with his depiction of the unexpectedly powerful, centralized 'fiscal-military' state during the eighteenth century. Finally, there have been numerous recent studies that explore the state as an abstract entity capable of commanding the loyalties of those people over whom it rules. Early modern Britain Early modern Britain is the history of the island of Great Britain roughly corresponding to the 16th, 17th, and 18th centuries. Major historical events in Early Modern British history include numerous wars, especially with France, along with the English Renaissance, the English Reformation and Scottish Reformation, the English Civil War,