Was China first?

Many believe that the Industrial Revolution began in England when in fact China had a similar experience at the turn of the first century. This revolution involved an increase of taxes paid in a monetary way from 4% to 50% in a span of a little over a hundred and fifty years. This is a huge change for a country as populous as China. China was the first country to use paper currency and this tradition began during the time period. This period also saw a heavy shift of the population fromĀ  the farms to the cities such as Kaifeng, Liaoyang, and Hangzhou.

Earliest Form of Chinese Currency


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