Under the Song dynasty, between 960 and 1279, China led the world in many technological innovatons. The Chinese invented clocks, the compass, gunpowder, paper and paper money, porcelein and the blast furnaces to make cast iron before Europe did. They independently developed spinning wheels and waterpower at more or less the same time that these merged at the other end of Eurosia.
-Daron Acemoğlu
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