Restructuring Trade: Circulation of Medicinal Materials in East Asia in the 18th Century(†)

In the 18th century, the trade of medicinal materials in East Asia showed a trend of rapid development, and by the second half of the 18th century, it became the largest commodity category in East Asia's international trade. The growth of medicinal material trade during this period was not a simple trade issue, but was closely related to a series of changes in economic fields, such as the market network, trade balance and production. The changes in the international trade environment from the 17th to the 19th centuries greatly increased the demand for medicinal materials. It also affected the production of medicinal materials. The medicinal material industries in East Asian countries were characterised by specialisation and marketisation, and provided the market with abundant and high-quality medicinal materials. In turn, the development of the medicinal material industry promoted international trade, making medicinal materials the largest traded commodity in East Asia. In the 18th century, the development of medicinal material trade promoted the recalibration of international trade, and changed the commodity structure of East Asian trade. It is a result of the transformation of international trade and economic relations, and an important participant in the development of East Asian economy. Trade of medicinal materials in the 18th century expanded the market network and formed a positive interaction between trade and production, and reshaped the international trade structure of East Asia.