The Fall of the Mongol Yuan Dynasty and Rise of the Ming Dynasty The fall of Togto, the last Yuan emperor of the Mongol-led Yuan Dynasty in China, came after widespread corruption, economic decline, and peasant uprisings, including the Red Turban Rebellion. In 1368, the Ming Dynasty, led by Zhu Yuanzhang (Emperor Hongwu), rose to power, overthrowing the Yuan. The Ming capital was established in Nanjing, signaling the restoration of native Chinese rule, and ushered in a period of stability, econo