Globalization 1.0 — The Silk Road to Asia and the Salt Caravans across the Sahara

Robert Z. Aliber
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Robert Z. Aliber: University of Chicago

Chapter 14 in The New International Money Game, 2011, pp 205-218 from Palgrave Macmillan

Abstract: Abstract Marco Polo traveled on the ‘Silk Road’ from Venice to China in the thirteenth century to obtain goods that could be sold in Europe. Venice was then the dominant economic power in Europe; goods from China moved on caravans to the eastern coast of the Black Sea and then were transferred to seagoing vessels for shipment to markets in Western and Northern Europe. Traders had moved along the Silk Road for nearly 3000 years before Marco Polo; his trip was a great personal adventure but not a significant discovery. Goods moved along the road from one trading center to another in a series of stages. Entrepreneurs managed the trade at these way-stations so that much of what would now be considered international trade involved a series of barter transactions at various market towns along the Silk Road.

Keywords: Transfer Price; Silk Road; Panama Canal; Economic Distance; Reduce Transport Cost (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24672-0_15

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DOI: 10.1057/9780230246720_15

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