I did this calculation formula, on how much a British citizen owes a Chinese citizen 🙂
During first and second Opium War period in 1840 – 1860s, British Empire took 300,000,000 liang (Chinese base unit of mass) silver from China and made its own sterling.
FIRST, CALCULATE THE SILVER VALUE (2007):
1 liang equals to 0.05 kilograms, so 300,000,000 liang equals to 15,000,000 kilograms silver. 15,000,000 kilograms equals to 15,000,000,000 grams.
At now, the silver price is: 6 to 8 USD per Oz. Let us take 7 USD as an average. 1 Oz equals to 1/12 Pounds equals to 31.1 grams. So 1 gram silver is 0.2251 USD.
So, we calculate the silver taken by British Empire now worth:
0.2251 USD/gram x 15,000,000,000 grams = 3,376,500,000 USD
(This does not include the countless valuable gold, antique, ivory, jewellery also taken at that time…)
SECOND, CALCULATE THE POPULATION RATE BETWEEN UK AND CHINA (2007):
60,776,238 (July 2007 est.)
1,321,851,888 (July 2007 est.)
Population rate (est.):
UK : China = 1: 21.75 = 1/21.75
THIRD, EVERY UK CITIZEN OWES EVERY CHINESE CITIZEN:
USD 3,376,500,000 x 1/21.75 = USD 155,241,379.31 (approx.)
LOL! Brits are in great debt now!
The numbers are not accurate! So it is just one calculation! Don’t take it too serious guys!