Lecture Block 5 Flashcards
(53 cards)
What Century’s did Peoples economies become more open
19,20C
What was the Silk road
trade of spices and jewellery
What made Countries more advanced than their counterparts before the industrial revolution
High levels of trade such as Liverpool
What was the Triangular Slave Trade
Britain, Africa, South USA Trade
When was slavery abolished
1807
What were the three types of trade during the Industrial revolution
1) Commodities e.g. Slaves
2) Manufacturing
3) International Trade
What two changes caused an increase in trade in the UK during the 19C
1) Technological Advancements such as steam ship trade
2) Free trade policies with removed takes
What was Britons Position in the financial market and what year was this in.
Britain level of dominance in the financial markets was very high greater than the whole of Europe combined in the 1850s
When was the international financial system of Briton most dominant and describe this dominance.
1850-1875
- Monetary systems dependant on Briton
- Outflow of gold due to payment deficits
- Countries searched for alternatives to free trade
Give an example to alternates to free trade
AN Empire
Was was Britons level of investment compared to Germany during the 1800s
11% to 14%
What was the scramble for Africa
European Countries swarmed Africa in order to try and harvest ores and minerals. These countries included France DUTCH and Germany. Dutch even started an empire in Africa possible due to the 19C machine gun overcoming indigenous resistance.
What positives does having an Empire bring
1) You dont have to rely on free trade
2) You have sources of supply
3) access to wider markets
After the Industrial revolution what was the difference between LEDCs and MEDCs was
1/18 level of development
Empire worth it no reasons
- African Exploitation
- Expenditure on Administration
- Military costs
- Infrastructure for little reward
Empire worth it Yes reasons
- Huge levels of economic growth for countries in Africa
- growth in the banking and exportation industry in local areas
- dodge trade barrier
- Interlocks Governments and Landowners
Describe the offer thesis points in relation to Empires
- Fiscal Drain high in Briton
- High Rates of return ambiguous
- Briton realise on colonies during WW2
Name Two counties which overtook UK and advanced further in the global economy, give dates when this period occured
1) Germany in 1845
2) Russia in 1905
Who had the two biggest Empires during the 18C
France and the UK
who had the most power in the 18C
America
Why was Migration common in an Empire
- L/K are more mobile
- Famines are pushes
- Work is Aus is pulls
What were two emerging economies during the 19th Century
Russia and Japan
Describe changes in the Russian in the 19th Century
- Had a duel economy at a subsistence level
- Level Of education in Moscow was the same as other European countries
- Middle class speak Russian and French
- Serfs
What were Serfs
Russian Agricultural workers, they were property of the land owner
