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The World Economy

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David Trachtman

on 5 January 2016

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Transcript of The World Economy

The World Economy
Where To Begin?
What were some of the technological innovations in the 15th Century that helped improve European exploration?
Deep=draft, round-hulled sailing ships able to carry cannons
Finally using the advanced compass
European knowledge of fireworks was adapted and used in creation of guns
Though very inaccurate, these initial steps in firearm creation were powerful, and scared even some Europeans, fearing their own destructive power
Forming a military advantage with the ability to kill and intimidate from a distance, especially on the seas
Colonies Around the World
: European settlements in Africa were small coastal fortresses, negotiated with local kings. There was no inherent power grab, as their only desire was to sell Asian products and European weapons in exchange for slaves
Deterred by climate, disease, and dangerous rivers to try and reach the interior, dealing mostly with West African gov’ts
Exceptions existed - Portuguese expeditions into Angola for slaves, more disruptive than other ventures
Dutch established
Cape Colony in 1652
, at the Cape of Good Hope, designed as a refuel station for Dutch ships bound for Asia
(Dutch word for farmers) sent to regions loosely populated by Africans, no major conflicts until after 1770

: China was mostly left out of this colonization, with most efforts concentrated in the Philippines for the Spanish, and India for the British and French
Struggle for India began in later 17th Century at the fall of the Mughal Empire
As Mughal structure began to collapse, local lords began to take power, vying for positions of power
Key British advantage came from control of Calcutta, in addition to a distinct naval advantage gave Britain the upper hand as opposed to France
French had more interests in Missionary work as opposed to money

Iberia Falls, The North Rises
By the late 16th Century, Spain and Portugal were too busy digesting and maintaining their new territories that newly strengthened protestant monarchies in places like England and Holland were working to rival Catholic gains. How was this able to happen?

New voyages clearly had a more economic motivation than a religious one as compared to Catholic expansion
French explorers reached and claimed Canada, staging explorations into the Great Lakes and Mississippi regions
British turned attention to North America in 1497, accomplished little beyond the Hudson valley in Canada, not picking up again until 17th Century
Dutch and Holland entered the picture after independence from Spain, exploring Africa and even Australia , establishing a settlement on the southern African tip, mainly a relay station for ships headed towards the East Indies

What is a
Joint-Stock Company
, and why does it forever change the Age of Exploration?

The Ending
This new Age of Exploration will forever change the world, and establish a new world order. Western Europe came out the dominant force, colonizing and expanding far around the world, and laying the framework for an early form of globalization. At the same time, however, slavery, disease, and greed become common currency, as the world is irrevocably changed. As for whether it is a positive or negative change, that is still to be determined.
Iberian Superiority
What impact did Columbus’ arrival in America in 1492 have on Portuguese exploration efforts?
After Columbus, Portugal doubled efforts, Vasco da Gama reached India in 1498, attempting to trade in an area dominated by Muslim merchants
Portuguese mistakenly thought temples were churches, and that Hindus were Christian

Da Gama’s success led to a further push for exploration, and establishment of forts and bases

While the Portuguese were certainly crafting success for themselves, a newly united Christian Spain was making moves of their own.

Here’s how everything stands in terms of territorial control:

The World in 1450
The Columbian Exchange
Commercial Outreach
Though they tried, Europeans never fully overthrew Asian shipping interests and couldn’t control the Indian Ocean. While there were some bases built on the East African coast, Muslims were still the dominant trading force.
Europeans dominated oceanic shipping, getting in on trade between India and SE Asia
Increasing profits allowed joint-stock companies to determine the flow of trade
1571: Battle of Lepanto sees the Spanish fleet defeat the Ottomans in the Mediterranean, end any hope of Muslim trade dominance
Turks eventually rebuilt, but could never rival European international dominance

It may sound repetitive at this point, but you have to remember that most explorations and early settlements involved setting up in established ports, created a shoreline network. There is almost no inland exploration or settlement. European influence manifested itself in other ways, such as setting up enclaves in cities where they could win special legal rights to undermine local trade.

Trade Imbalance
The biggest competition for global control emerged amongst the western European nations, as they all vied for new positions and ways to maintain dominance.

What are the Core Nations, and how does their use of Mercantilism create a global economy?

Inequality Persists
In dependant nations (areas that were part of global trade, but not making large profits) a small minority would acquire a small amount of wealth, not much more. They were not in total control of terms of trade, on top of that the small amounts of money they made could not stimulate a local economy or manufacturing of any kind. Coerced labor will come into play in South and Central America, but you will learn about that later.

Asian Interactions
As mentioned previously, China decided to step back from global affairs, choosing to focus internally instead, for two major reasons.
Avoiding involvement with trade on someone else’s terms
Manufacturing gains led to strong export positions, getting massive silver amounts from Europe
Europeans didn’t like this isolationism, constantly speaking against traditions and lack of desire to trade
Despite earlier interactions, Japan and Korea eventually pulled out of European relations, seeing Western influence as a threat to their social structure and styles of warfare (guns change things)
India and Ottomans had some trading, India more so, but focused mainly on land-based expansion and local commerce

Constant Expansion
As the global economy continued to grow and change, new areas became part of the global fold, mostly as dependents to other major nations. As the Mughal empire fell apart in India, Britain and French East India companies set up shop. seeking out new roles in administration and economic control, going so far as passing tariffs to protect the British textile industry

Eastern Europe became a center of exported grains, as places in Prussia, Poland,, and Russia became vital to help keep western Europe fed.
Colonial Expansion: The Americas
Spain started the settlement and expansion with Hispaniola, where Columbus landed. Shortly after, they moved to Cuba, Jamaica, and Puerto Rico. By 1509, the Spanish were beginning to explore the mainland.

Many of these explorers were adventurous, violent, and treacherous, no one exemplifies this more than Francisco Pizarro

Pizarro was very common of the men who would be explorers and founders of settlements in the new world, following some simple rules.

The Backwoods: British and French North America
North America had a clearly different setup and motivation for colonization as compared to work done by the Spanish. Religious refugees and government grants were the norm, at least initially, until instances like the takeover of Dutch New York (New Amsterdam) by the British, which ALSO differed from the French colonial system
The idea began under Louis XIV, setting up manorial estates with lords who were carefully regulated and restricted
French peasants urged to emigrate, many didn’t, but birth rates in the colony were high, and by 1755 New France had 55,00 settlers
Established the city of Quebec, initially a walled fortress , and helped create a provincial society with strong Catholic organization

Tensions between the British and the French came to a head in the
Seven Years War,
where England took control of French colonies due to the
Treaty of Paris
in 1763

Family Life in the Colonies
For the most part, Europeans transplanted their own lives and familial structures into their new colonial lives
Colonists married slightly earlier than in the home country and had more kids, thanks to abundant land
Nuclear family with strong care for children, mainly due to their necessity as workers
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