Economy

The Ming Dynasty a time when the feudal society began to decline and capitalism emerged. In agriculture there was an increase compared to Song & Yuan Dynasties. Early in the Ming Dynasty, handicraft industries flourished in the southern areas. This was especially true for the porcelain industry which reached an all time high. It was the major source of finance at the time. 


Handicraft industries provided a good market for economy and for the growth of the cities. A great amount of trading occurred at this time involving silk, alochol, porcelain, tobacco, vegetables and fruits. They were traded for foreign commodities from Europe and America. Eventually, however there was a policy of restraining trade and a ban on shipping which affected the economy negatively.