Precious metal does not equal wealth. Tin, copper, lead, fossil fuels, iron, steel mills, textile mills, bridges, roads, rail, timber, lumber mills, machine tools, electronics, skilled organized educated workforces, land, engineers, scientists, research and development facilities, chemical processing plants, sanitation, electricity and a fuckton of other things equals wealth. China didn't have an industrial revolution so it never had any of these things, that is why it failed in the 19th century.
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Anonymous2011-05-31 11:17
Precious metal was the de facto world currency. If China depleted all of Europe's gold reserves, it would have been the wealthiest country for ages even without an industrial revolution.
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Anonymous2011-05-31 14:45
>>5
liberals who don't have a clue what wealth is.