Until the 18th century, which two countries were considered the richest in the world?

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China and Japan

England and France

India and China

England and Italy

answer is C.

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Detailed Solution

Until the 18th century, India and China were the two countries that were considered the richest in the world.
The geographical location of India and China was favourable for trade networks. India is surrounded by water on three sides. India and China traded spices, silk, pottery, and minerals with other countries. Earlier, India was exporting finished goods, but after the arrival of the British Empire, India's stance changed for the world. From exporting finished goods to raw materials, India has seen a decline. However, fine quality textiles were in great demand all over the world. India and China produced the best quality cotton and silk, respectively. Thus these two countries were considered the richest in the world until the eighteenth century.

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