62. "At the beginning of the fifteenth century, China was far more technologically advanced than the West."

"At the beginning of the fifteenth century, China was far more technologically advanced than the West. China had a superior knowledge of science, farming, engineering, even veterinary medicine. The Chinese were casting iron in 200 B.C., some fifteen hundred years before the Europeans. Yet the Industrial Revolution took place in Europe while Chinese civilization languished. Why? One historical interpretation posits that the Chinese elites valued stability more than progress. As a result, leaders blocked the kinds of wrenching societal changes that made the Industrial Revolution possible. In the fifteenth century, for example, China's rulers banned long-sea-voyage trade ventures, choking off trade as well as the economic development, discovery, and social change that come with them."

From "Naked Economics" by Charles Wheelan, W. W. Norton & Company