This podcast explores the historical journey of paper money in China, beginning with its inception during the Song Dynasty in the 11th century. It delves into the convenience and challenges brought by this innovation, including counterfeiting and inflation. The discussion highlights the transition from metal coins to government-issued paper currency, its spread under the Mongol Yuan Dynasty, and the eventual reversion to precious metal-backed systems. A fascinating look at how economic practices evolved in response to societal needs and challenges over centuries.

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