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In fact, the use of paper currency in China hurt the metals industry in general as mining withered during the Southern Song. <ref> Smith, Paul J. “Do We Know as Much as We Need to Know About the Song Economy? Observations on the Economic Crisis of the Twelfth and Thirteenth Centuries” <i>Journal of Song-Yuan Studies</i> 24 (1994) p. 329</ref> The Song discovery of paper currency truly had a great impact on East Asia, but it would be centuries before Europeans discovered the benefits and drawbacks of using paper notes.
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