Articulating the Pacific Economy: Chinese Mercury, American Silver, and Californian Sea Otters

Among Hans Ulrich Vogel’s important contributions to Chinese and world history has been his work on the outsized influence China exercised in the early history of globalization. In this brief article, we pay tribute to his careful research and deep insights by describing the interconnected circuits of exchange of three commodities – mercury, silver, and sea otter pelts – through which the early Pacific economy was articulated and transformed. Following Professor Vogel’s lead, we explain how the Chinese demand that drove these exchanges fueled competitive economic expansion of European powers in the Pacific, setting in motion political, social, ecological, and economic patterns whose influence endures into the present.