3. An Overlooked Empire: The Opium Business
In 1816, John Jacob Astor expanded his business ventures by entering the opium trade. He purchased 10 tons of Turkish opium and shipped it to China, where he exchanged it for goods that he resold in the United States. This operation mirrored the practices of the British East India Company, which had established a monopoly on opium cultivation in India and used the profits to purchase Chinese luxury goods. Astor’s involvement in the opium trade contributed to the widespread addiction in China and the ensuing Opium Wars (smithsonianmag.com).
