Editing Monopoly (section)

==== Persian filoselle (raw silk) ====
In the 17th century, Shah Abbas established New Julfa (a suburb in the capital of Isfahan) to concentrate [[Armenia]]n financial capital in Iran. Accordingly, he gave [[Armenia]]ns various privileges, including the monopoly to trade Persian filoselle (raw silk). Armenians exported it all over the world, including Asia, Europe, and America. By the 1750s, Armenia already controlled 75% of the total silk trade in the area. This resulted in a boom in Armenian commerce, which lasted for the next 150 years.<ref>{{Cite journal|last=Bakhchinyan|first=Artsvi|date=2017|title=The Activity of Armenian Merchants in International Trade|url=https://src-h.slav.hokudai.ac.jp/rp/publications/no14/14-03_Bakhchinyan.pdf|journal=Hokudai|pages=24}}</ref>{{Better source needed|reason=The current source is insufficiently reliable ([[WP:NOTRS]]).|date=September 2023}} At present, as it happens, Armenia's own economy is itself highly monopolized; in fact, with 19% of its economy monopolized, Armenia was the most monopolized country in Eastern Europe and Central Asia in 2009.<ref>{{Cite journal |last=Mikaelian |first=Hrant |date=2015 |title=Informal Economy of Armenia Reconsidered |url=https://www.academia.edu/14915579 |journal=Caucasus Analytical Digest |issue=75 |pages=2–6 |via=Academia.edu}}</ref>