Transcript Reading Outline

The World Economy
Chapter 16
pg. 348-366
The West’s First Outreach
• post-1300:
Consistent exploration & curiosity of
the world increased remarkably
– Fueled by late postclassical developments
– Yet initially obstacles existed
New Technology: Key to Power
Arab portolan
charts & maps
Chinese
compass &
explosives
Arab
lateen sail
Arab lateen
sail
Chinese
sternpost
rudder
Portugal & Spain lead the Pack
• Motivated by money, excitement, & desire to
circumvent Islamic lands
• Portugal pushed south & east around Africa
• Spanish fleets sailed west
Northern European Expeditions
• Dutch and English (& French) use superior
ships to replace naval dominance of Spanish
& Portuguese
• Government sponsored trading companies
dominated these early colonies
Question
• Portugal =
Based on your
reading, record the
regions controlled
and colonies
established by the
following
countries:
• Spain =
• Netherlands =
• England =
Toward a World Economy
• Three changes arose from European
exploration
– Columbian Exchange
– New Import-Export Patterns
– Emergence of new overseas empires
Columbian Exchange
• Columbian Exchange = diaspora of new
plants, animals & diseases between the old
& new worlds following Columbus’ discovery
– Major demographic effects
– Europe affected slowest
West’s Commercial Outreach
• West dominated ocean trade routes, without
fully replacing old players
• Europeans, without inland colonies,
dominated ports
Imbalances in World Trade
• Europe expands manufacturing sector
• World economic patterns of have’s & havenot’s established:
– Core Nations
– Dependent Nations
Question
Explain mercantilism.
Analyze the benefits experienced by core
nations from such a system.
International Inequality
• Emerging market system created durable
inequalities
– Rise of coercive labor systems
– Limits = many areas not yet effected by market
World Economy?
• Some (China) benefitted w/out fully
participating
– Gov regulation remained strong
– Manufacturing allowed for strong export position
• Others (Japan) had a change of heart
• While many societies largely focused on
internal development:
– India (Mughal Empire); Middle East (Ottomans &
Safavids)
– Korea; Africa; Russia
Expansionist Trend
• Increasingly areas brought into trade
networks b/t 1450-1750
– Europeans begin to view societies as sources of
wealth rather than partners
• India
• Eastern Europe
World Economy & the
Americas
Chapter 16
pg. 359-364
Colonial Expansion
Americas: Spanish Colonies
• Substantial advantages (guns, germs, steel)
led to unscrupulous treatment
• pre-1550:
loose control, motivated by booty
• post-1550:
tight colonial control, motivated by
state profit
Americas: British/French Colonies
• Colonies largely ignored, but settlers attempt
to recreate European society
(see: pg.364, “North America & Western Civ”)
↳ Loose control, low profitability
• Emerging commerce & manufacturing
• Independent assemblies
• Less impacted by native culture
Africa & Asia: Coastal Trading
• Africa
– Inland exploration & colonies limited by
geography & disease
– exception: Cape Colony (Boers)
• SE Asia
• South Asia
– Gradually British East India Co. increased
control
Impact on Western Europe
• Three major impacts
– Economic
– Diplomatic
• Seven Years War = first world war?
– Daily life
Impact of the New World Order
• Dependency deepened by coercive labor
• Yet Columbian Exchange & trade addressed
scarcity
Global Connections
• Its complex.
– How?
• Genuine shift was beginning.
– Who wins and who loses?