Zheng He failed to pioneer a commercial empire on the scale of Portugal or Britain. Despite their commercial overtones, Zheng He’s voyages were mere extensions of Ming Empire’s tributary system, a system not based on profit. Emperor Hongwu established the Ming tributary system merely as a way for foreign countries to acknowledge the empire’s status – private profiteering by envoys was strictly denied. When Ming envoys refused to accept gifts from the Vietnamese, Hongwu applauded; when envoys from Korea used a trip to the Ming court to trade privately with Chinese merchants, Hongwu frowned. Under Emperor Yongle, the Ming tributary system expanded with Zheng He’s diplomatic expeditions, and became more flexible. Zheng He’s men sailed to the Strait of Malacca, Malay, Arabia, and East Timor, carrying the emperor’s official seal and banner, accompanied an array of grain ships, battle ships, horse carrying ships, troop transport ships, and even water tank ships (with on board aquariums). Yongle realized that trade and tribute were synonmous, and allowed foreign ambassadors who boarded Zheng He’s ships to profit. The emperor even set up markets in the Ming capital for these foreigner envoys to trade. Yet, while foreign envoys profitted, expeditions under Zheng He did not. Zheng He’s treasure ships aimed to bedazzle foreign princes – gold, silver, porcelain, silk, and other valuables were exchanged, in great quantities, for items less worthy, like giraffes that amused the emperor but provided little practical benefit. Even beginning economics students understand that with little return, any business venture, no matter how grand in scale, would be doomed to bankruptcy.
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