📜 Part I: Key Terms
Match the following terms with their correct definitions (write the letter of the correct
answer next to the term):
1. ___ Potosí
2. ___ Manila Galleons
3. ___ Mercantilism
4. ___ Ming Dynasty
5. ___ Trade Imbalance
A. Economic system where colonies exist to benefit the mother country
B. A major silver mining site in modern-day Bolivia
C. Spanish trading ships that connected the Americas and Asia across the Pacific
D. Chinese dynasty that required taxes to be paid in silver
E. A situation where one country imports more than it exports
🌐 Part II: Short Answer
Answer each question in 2–4 sentences.
1. How did the global silver trade link the economies of Europe, the Americas,
and Asia?
2. Why was silver in such high demand in Ming China?
3. What role did Japan play in the global silver trade?
🔍 Part III: Source Analysis
Read the excerpt below and answer the questions.
“Silver has become the blood of commerce, flowing from Potosí to Manila, from Seville
to Beijing...” – Anonymous 17th-century merchant
A. What does the metaphor “blood of commerce” suggest about silver's role in the
economy?
B. What cities or regions are mentioned, and what do they reveal about global
connections?
� Bonus Question (Critical Thinking):
Do you think the global silver trade had more positive or negative effects on the
societies involved? Explain your reasoning.
📜 Part I: Key Terms (Matching)
1. B. Potosí – A major silver mining site in modern-day Bolivia
2. C. Manila Galleons – Spanish trading ships that connected the Americas and
Asia across the Pacific
3. A. Mercantilism – Economic system where colonies exist to benefit the mother
country
4. D. Ming Dynasty – Chinese dynasty that required taxes to be paid in silver
5. E. Trade Imbalance – A situation where one country imports more than it exports
🌐 Part II: Short Answer
1. How did the global silver trade link the economies of Europe, the Americas,
and Asia?
The silver trade created economic links between the Americas (where silver was
mined), Europe (which financed and profited from the trade), and Asia (especially
China, where silver was in high demand). Silver traveled from mines in Spanish
America to Europe and then to Asia, especially through Manila.
2. Why was silver in such high demand in Ming China?
The Ming government shifted tax collection to silver, making it essential for both
individuals and businesses. As a result, demand for silver increased rapidly,
turning China into a major destination for global silver.
3. What role did Japan play in the global silver trade?
Japan was one of the largest producers of silver during this time and exported
much of it to China and other parts of Asia. Japanese silver also entered
European trading networks through Portuguese and Dutch merchants.
🔍 Part III: Source Analysis
A. What does the metaphor “blood of commerce” suggest about silver's role in the
economy?
It suggests that silver was vital to the global economy, just like blood is essential for life.
It kept trade and commerce flowing between regions.
B. What cities or regions are mentioned, and what do they reveal about global
connections?
Potosí (Americas), Manila (Asia), Seville (Europe), and Beijing (Asia) show the vast
reach of trade. These cities illustrate how silver traveled across continents, linking
distant economies into one global system.
� Bonus Question (Critical Thinking):
Do you think the global silver trade had more positive or negative effects on the
societies involved?
Sample Answer:
The silver trade had both positive and negative effects. It created global economic
connections and increased wealth for some empires, but it also led to exploitation of
labor, environmental damage, and economic dependency on a single resource. The
impact depended on the perspective—colonizers benefited, while colonized regions
often suffered.