Majapahit's Economic Collapse: When the Kepeng Ran Dry

This episode digs into the less glamorous side of Majapahit's golden age: its economic foundations. Lucas and Luna explore how the empire's prosperity rested on a single Chinese bronze coin—the kepeng—and what happened when that supply was cut off. They trace the coin's journey from China to Java, the role of Chinese junks and Zheng He's voyages, and the crisis that struck when the Ming Dynasty restricted exports. The conversation reveals how Majapahit's dependence on foreign currency left it vulnerable, and how the resulting inflation and hoarding contributed to the empire's decline. Drawing on the work of historian Jan Wisseman Christie and archaeological finds from Trowulan, the episode paints a vivid picture of everyday commerce, market life, and the fragility of a trade-based economy. Along the way, the hosts touch on the role of temples as treasuries, the rise of Islamic ports like Demak, and the paradox of an empire that commanded the seas but couldn't mint its own money. #Majapahit #Kepeng #Trowulan #ZhengHe #MingDynasty #ChineseCoins #EconomicHistory #SpiceTrade #Nusantara #JanWissemanChristie #JavaHistory #MonetaryCrisis #TradeRoutes #Inflation #Demak #SoutheastAsianHistory #History #FexingoHistory Keep every episode free: buymeacoffee.com/fexingo