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Japan and Hong Kong are the main suppliers of raw materials and capital goods. Although Macau was hit hard by the 1997–98 Asian financial crisis and the early 2000s recession, its economy grew approximately 13.1% annually on average between 2001 and 2006. [17] Macau is a full Member of the World Trade Organization. [18]
It quickly became an important node in the development of Portugal's trade along three major routes: Macau–Malacca–Goa–Lisbon, Guangzhou–Macau–Nagasaki and Macau–Manila–Mexico. The Guangzhou–Macau–Nagasaki route was particularly profitable because the Portuguese acted as middlemen, shipping Chinese silks to Japan and Japanese ...
Their officially recognized commercial activity was a fixed-amount entry into the Portuguese silk trade between Macau and Nagasaki. They financed to a certain amount the trade association in Macau, which purchased raw silk in Canton and sold it in Nagasaki. They did not confine their commercial activity to the official silk market but expanded ...
From its founding until the loss of trade with Japan in 1639, Macau survived and prospered due to the China–Macau–Japan triangular trade. This lucrative trade, based on the exchange of silk and gold from China for silver from Japan, began when, in the 1540s, Portuguese merchants began selling Chinese products in Japan.
They were also used for local triangular trade between several territories, like Goa-Macau-Nagasaki, trading products such as sugar, pepper, coconut, timber, horses, grain, feathers from exotic Indonesian birds, precious stones, silks and porcelain from the East, among many other products.
In 1580 Sumitada gave the jurisdiction of Nagasaki to the Jesuits, and the Portuguese obtained the de facto monopoly on the silk trade with China through Macau. The shÅgun Iemitsu ordered the construction of the artificial island in 1634, to accommodate the Portuguese traders living in Nagasaki and prevent the propagation of their religion ...
The great ship from Amacon: annals of Macao and the old Japan trade. Lisbon: Centro de Estudos Históricos Ultramarinos. Hesselink, Reinier H. (2015). The Dream of Christian Nagasaki: World Trade and the Clash of Cultures, 1560–1640. McFarland. ISBN 9780786499618. Boxer, C. R. (1951). The Christian Century in Japan: 1549–1650. University of ...
Hence, the 1609 Macau carrack was unusually richly stocked with two years' supply for the Japanese market. [11] This carrack, variously called the Nossa Senhora da Graça ( Our Lady of Grace ) or the Madre de Deus ( Mother of God ), [ 12 ] left Macau on May 10, six weeks ahead of schedule, because its captain, André Pessoa, heard from Malacca ...