State Monopolies Enabled Early Chinese Commerce

Imperial monopolies (salt, silk, tea) and tributary recharacterizations functioned as de facto commercial infrastructure in imperial China, lowering transaction costs and channeling large‑scale exchange even without formal private property institutions. The emperor’s role as monopoly operator and trader created incentives to facilitate exchange, so flourishing commercial activity can precede legal recognition of private property. — This reframes development debates: strong state control of assets can, in some contexts, accelerate commerce rather than only suppress markets, complicating simple 'private property first' prescriptions for growth.