The origins of the current global economic system are found in the late 1400s, when China was the world leader in the production and export of goods such as silk. The result of this position created what problem that fostered European exploration of the Americas?

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China's dominance in trade created a trade deficit for European countries, as they were importing more goods from China than they were exporting. This led European countries to seek out new trading routes and territories, leading to the exploration and colonization of the Americas.

The Origins of the Current Global Economic System Are Found