Question

Trade with China was not very profitable because the Chinese did not have a need for foreign-made products true or false

Answer 1

True. Historically, during certain periods, trade with China was less profitable for foreign traders because China had a self-sufficient economy and did not have a strong demand for many foreign-made products. This was particularly evident during the Qing Dynasty, when Western merchants struggled to find goods that China needed in exchange for the tea, silk, and porcelain that were highly sought after in the West. Instead, opium became a major trade good, which led to significant socio-economic consequences in China.