16. The first global crisis, the General Crisis saw a century of sustained economic turmoil and a significant reduction in the human population
A contested term, the “General Crisis” refers to the period between the early-17th and early-18th centuries, during which Europe endured sustained and widespread instability. In addition to the aforementioned events, this period also saw the English Civil War and Glorious Revolution, the collapse of the Ming and rise of the Qing Dynasty in China, insurrections against the Spanish, the War of the Spanish Succession, and the Dutch Revolt. Throughout all of these events, and more, the global economy underwent repeated and prolonged turbulence. Discovery and importation of precious metals, notably silver, from the Americas triggered significant devaluations and inflation.
Furthermore, during this time the population rapidly grew until the mid-century before suffering a critical decline. The population of China fell approximately 50 million between 1600-1644, a decrease of more than 30%, whilst Germany saw between 15-30% population loss during the Thirty Years’ War. This was due in no small part to the Little Ice Age, a period of global cooling which adversely affecting crop production and impeded population growth. Arguably serving as the first global crisis, with Spain’s global empire imploding, the General Crisis saw a century of misery, economic depression, and contraction in human conditions.