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.
(This does not include the countless valuable gold, antique, ivory, jewellery also taken at that time…)
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
SECOND, CALCULATE THE POPULATION RATE BETWEEN UK AND CHINA (2007):
UK Population: 60,776,238 (July 2007 est.)
China Population: 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!