How the Mongols Changed Trade, War, and Globalization — Fexingo History
In this episode, Lucas and Luna explore how the Mongol Empire under Khubilai Khan introduced the world's first government-mandated paper currency, the chao, in the 13th century. They discuss how it was enforced under penalty of death, why it was accepted by merchants from China to Persia, and how it laid the groundwork for modern fiat money. They also touch on the collapse of the system after the Yuan dynasty fell, and contrast it with earlier Chinese experiments like the jiaozi and huizi. Along the way, they mention Marco Polo's astonishment at the system, the role of the Ortogh merchant partnerships in spreading its use, and the economic theories of Rashid al-Din. A fascinating look at an early precursor to today's global financial systems. #MongolEmpire #KhubilaiKhan #PaperMoney #Chao #YuanDynasty #MarcoPolo #Ortogh #RashidAlDin #FiatCurrency #EconomicHistory #Jiaozi #Huizi #Khanbaliq #PaxMongolica #SilkRoadTrade #History #FexingoHistory #WorldHistory Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]
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