ing China was by far the greatest nation on the planet for most of the 15th and 16th centuries. It was certainly the biggest and the richest. Ming technology was in advance of anything in Europe or the Middle East, with movable type, compartmentalized ship hulls, steering rudders, advanced farming techniques, and the ability to solve systems of linear equations. Ming military power conquered Mongolia, subdued Korea and Vietnam, fended off a major invasion from Japan, and quickly disposed of meddlesome raiders from Portugal and the Netherlands. Taxes were low, industry was strong, and the society was peaceful and stable. For almost 300 years, Ming China could – and did – rightfully consider itself the center of the world.

But with the hindsight of history, the Ming doesn’t look so awesome. While China was basking in seemingly timeless stability, Europe was seething with new ideas and technological progress. Even as the Chinese government banned oceanic shipping and heavily restricted foreign trade, European countries were discovering the New World and building trading empires. By the time the Ming fell in the 17th century, Europe was well on the way to dominating the world.

The stagnation of the Ming may carry important lessons for […]