China. Introduction of paper banknotes, a world first. It means believing in something you can’t see or touch: sheets of paper that everyone recognizes as having value. They’re called “feiqian,” or flying money. They’re larger than an A4 sheet of paper and gray, printed on only one side. On the top edge is written: “Certificate of the Circulating Treasure of the Great Ming,” and on the right is written “To be circulated forever.” Then, around 1425, the Chinese government abandoned paper money after periods of intense inflation due to the constant printing of large quantities of paper money.
