How did economic factors contribute to the downfall of the Ming dynasty?

Economic factors played a crucial role in the downfall of the Ming dynasty. The dynasty experienced a period of economic prosperity and growth during its early years. However, mismanagement and corruption within the government, along with excessive military spending, led to financial strain and economic decline. The government heavily relied on silver as the primary medium of exchange, which caused a drain of silver from the economy. This, coupled with the increased demand for silver from foreign trade, resulted in hyperinflation, rising prices, and economic instability. Additionally, a growing population combined with limited agricultural land led to a decrease in agricultural productivity, leading to food shortages and famine, further aggravating the economic crisis. These economic challenges weakened the state's ability to maintain order and control, ultimately contributing to the downfall of the Ming dynasty.

This mind map was published on 18 September 2023 and has been viewed 95 times.