The Spatial Differences of Currency Operation and the Concerning Integration Issues in the Song and Ming Dynasties:A Perspective from North and South China
There have been relatively few studies that specifically discuss historical differences between North and South China,and the concerning integration issues from the monetary perspective.Restrained by such factors as the conditions of the pre-modern socio-economic development,the diversty of ruled territories and ethnic groups,and the lack of a financial-technical framework across time and space,the traditional Chinese monetary operation system often presented certain spatial differences and divisions between North and South China.However,currency also had an inherent trend of trans-regional circulation and integration,which was attributed to the commercial and trade activities,and personnel and material flows within the unified territory,as well as to the trans-regional integration characteristics of socio-economic systems implemented by the state.As to this difference and integration,the Northern Song and Ming Dynasties provided a distinct portrayal and contrast.The Northern Song Dynasty established a relatively unified system of copper coins by integrating the differentiation of the Northern and Southern menetary systems since the Five Dynasties.It built up and maintained a currency-credit network and operating system across North and South China around the criteria of copper coins,presenting a heteronomous integration path characterized by government predominance.The Ming Dynasty aimed to establish a unified system of paper money(宝钞)by integrating the currency differences between North and South China,and between various regions during the Yuan and Ming Dynasties.However,due to the lack of an internal institution,the system of paper money quickly went to collapse,and the currency system also struggled to thrive but found it difficult to survive.As a result of the government's loss of control,the circulation of currency showed a trend of spatial segmentation,north-south differentiation,and regional autonomy.This integration actually depended on the growth of the market and financial organizations driven by the development of commerce and trade,internally presenting an autonomic integration path dominated by the market.However,the degree of integration was limited in the development of the Ming Dynasty.And also,the regional autonomic monetary system gradually became the mainstream during the Ming and Qing Dynasties.
currencynorth and southspatial differenceintegration
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