Final answer:
During the Song dynasty, China experienced significant economic growth with improvements in iron production and advances in ceramics manufacture, which expanded trade. While the Ming dynasty further developed a commercial economy, engagement in Asian land-based trade networks was significant, but the sea power was underdeveloped.
Step-by-step explanation:
Chinese Innovations That Expanded the Economy and Fostered Trade
The Song dynasty in China experienced remarkable technological and economic growth that has been compared to the industrial revolution in eighteenth-century Britain. Key innovations during this period included improved iron production, advances in ceramics manufacture, and the creation of a more interconnected society through better roads and canals.
Improved iron production not only was pivotal for military purposes but also facilitated the creation of agricultural tools, which led to a surge in economic growth and helped in the development of cross-regional trade. The rise in productivity enabled goods to be traded over greater distances, fostering a vibrant trade environment. Similarly, the advancements in ceramics not only improved the quality but also the quantity of items being traded. This economic blossoming was also supported by social innovations such as a more egalitarian approach to meritocracy and a burgeoning guild system.
During the Ming dynasty, China shifted from an agrarian economy to a more competitive commercial one, engaging heavily in trade with other Asian countries and along the Silk Road. However, the dynasty did not invest significantly in sea power, leaving it vulnerable to European incursions. The moveable type printing press, significantly earlier than the European counterpart, and the exceptional standards in arts and manufactured goods also reflected China's advanced state of economic and cultural development.
Throughout these dynastic periods, the Chinese economy was characterized by extensive trading capabilities and the development of powerful manufacturing and transportation networks, which included large-scale factory production and water-powered machinery for textiles and paper making. By the 1600s, China had developed a massive trade capability, leveraging manufacturing and transportation networks, and had expanded its trade with Europeans.