The gist of what I want to say by way of introduction was suggested to me during my recent visit to Hong Kong and China. Reading about the events which led up to the establishment of the British presence on the South China coast in the 1830s and 1840s, I was struck, once again, by two things. The first is the way in which the 1838 Anglo-Turkish Convention was so obviously part of a world-wide movement of European self-assertion, spearheaded by a coalition of merchants, military men and politicians. The second concerns the essentially dramatic nature of the confrontation between European might and the declining power of the states and empires whose commercial practices it sought to control—the kind of drama which doesn't always get properly represented in history textbooks, let alone works of political economy.