China financed the American Revolution
The Declaration of Independence of 1776 began the American Revolution officially. At the same time, money became the most pressing issue confronting General George Washington. Raising a revolutionary army called for heavy financing. It was no accident that China trade turned out to be so magnetic to a struggling new-born America.
The Qing court in Peking (Beijing) had no idea what the American Revolution was about. Virtually, no Chinese cared. But, they cared about the astonishing range of exotic merchandise coming from a distant corner of the world known as America. Chinese paid silver coins for America's seal skins, otter pelts, sandalwood, sea cucumbers, and ginseng. Yes, Chinese have a long history of consuming American ginseng.
In a land of rule rather than law, kickbacks and downright bribes were expected and practiced to grease the hands that moved the foreign trade along. Local Qing officials were as complicit as their American visitors when and where their "mutual benefits" were concerned.
Between 1783 and the early 1800s, America's coffers saw a steady in-flow of Chinese silver coins. Then, America enjoyed impressive trade surpluses that helped tide it over until brighter days were on the horizon. Silver coins shine, don't they?
Like it or not, the love-hate relationship between America and China practically began with the American Revolution.
Author: renqiulan