Finance, Forex and Investments

Who is David Sassoon? Heard him a big tycoon in Shanghai doing ... ...?

I heard him doing Opium trade in India, and in hong kong , Why was he doing opium trade ? Thx.

Public Comments

1. David Sassoon is long gone and dead. He became a big tycoon due to all the Chinese merchants he was selling opium to. In turn these Chinese merchants turned their fellow country men into junkies. The Chinese were so hooked on it that at one point they grew 85% of the world production and outstripped many times the amounts the British could get into the country. To the racist Jew hater below, yes its quite true, thank you for acknowledging me for my history. http://www.a1b2c3.com/drugs/opi010.htm "--Rising from low levels in the 1840s, China produced 35,000 tons of raw opium in 1906-07--equivalent to 85 percent of world opium supply. " After the opening up of China although foreigners where allowed into the country they were confined mostly to the port cities concession areas of them. Opium taking in China was gaining popularity way before Westerners forced it on them. http://findarticles.com/p/articles/mi_qa3833/is_200207/ai_n9107282/pg_2/?tag=content;col1 "In the 15th century, tobacco smoking became popular in the western hemisphere and European sailors introduced the habit into the Orient, where it quickly gained popularity. The last Ming emperor (1628-1644), Tsung Chen, prohibited the use of tobacco in 1644, seeing this New World plant as an evil substance. The Chinese people, however, responded by mixing opium with tobacco in gradually increasing amounts for smoking in special pipes. Finally, many were smoking pure opium, and by the end of the century about 25 percent of the population were using opium." The above part is important because commonly before this opium was eaten, and hence a different mode of delivery and not so addictive. This was "common practise before the first ban" http://www.nhm.ac.uk/jdsml/nature-online/seeds-of-trade/page.dsml?section=crops&ref=poppy&cat_ref=&region_ID=&time_ref=&page=spread&origTimeID=&origTimePoint=&origTpTitle=&origPage= "The Chinese merchants paid £1500 a tonne for opium when the British merchants were buying tea at about £40 a tonne at Canton and gold was valued at less than £4 an ounce. In 1830 the British exported nearly 3 million pounds (or 1500 tonnes) of opium a year, worth £2 million at the time (equivalent to 1 US billion dollars today)." Transaction between British merchant to Chinese merchant.
2. @@ banana chimp (above) " He became a big tycoon due to all the Chinese merchants he was selling opium to. In turn these Chinese merchants turned their fellow country men into junkies. " ? ? " The Chinese were so hooked on it " ? ? ? "at one point they grew 95% of the world production" ? ? ? " outstripped many times the amounts the British could get into the country" ? ? ? Wow! This is quite a stretch of history and truth. You enjoy blind-folding the Chinese, don't you ?
3. He was doing opium trade because he can earn a lot of money doing so.
4. banana man said it all, they are true. @@bibi and you can't come up with better answers, blind-folded gay men loves to pin donkey tails somewhere
5. Hey twin brother with no experience or TC badge, I think the guy you are referring to might be the great-grandfather of Vidal Sassoon, but I only have access to Wikileaks and CCP propaganda on which to base my opinion.