The global floe of silver also affected the economic aspects of the participating countries. Xiu Dunqiu, a writer states in his essay the effects of the using of silver as a payment for taxes (Doc 5). Buyers were no more able to use other goods as payment for traders and taxes and thus changes China’s barter economy into marketing. He Qiaoyan, a Ming dynasty official, reported to the government the high prices of Chinese goods in the Philippines (Doc 7). The prices of the silk yarns sold in the Philippines is twice as much or even more than the price sold in China and the foreigners desired much of the country’s natural resources. Qiaoyan wished to repeal the ban on the taxes. Even so, he began to notice the failing economy of his country, contrasting the prospering of other nations. Ralph Finch, a British merchant, describes in his account the trade of Macao and Japan. (Doc 4) The Portuguese trades their d=goods in exchange of only silver.