China was forced to cede Hong Kong, a densely populated island city in south China, to British rule. China also had to pay indemnity to the British. As a result of the first Opium War, China not only suffered more economic decline but also saw further opium addiction among its people. Very quickly, the economy of China experienced a breakdown of self-sufficiency in the traditional system of agriculture and craftsmanship. China was contrained to fight in its own defence to end the opium trade and to revert the unequal effects of the Nanjing Treaty.
The sugar industry and mercantilism had built up Britain’s industry. Britain had long since moved past the days of making sweet cakes and tea sweeteners. With the large volume of raw materials from the new world their development of factories saw clothes and canned goods being mass produced. While profit was afforded to the manufacturers their economic gains were being stifled by the King Sugar as the mercantilist system used to nurse and wean an infantile sugar economy. The BWI sugar industry initially saw little competition but France through their economic cheat code of St. Domingue soon over took control of the sugar market of the Americas.
During the pre-civil war time period— also known as the antebellum years— America experienced a widespread transformation for the sake of its economy. With the booming belief of the Manifest Destiny, America’s constant desire for westward expansion caused disputes between the North and the South regarding the establishment of free states and slave states, which led to certain compromises such as the Missouri Compromise. After the Market Revolution, the North and South used its new gained land to create different means of economic gains; the North became industrialized through manufacturing, while the South became an agricultural industry dependent on cotton. However, as America’s boundaries expanded, tensions between the North and South grew, often leading to compromises in bloodshed. The drastic differences between the two groups eventually transformed America into a divided nation of sectionalism economically, politically, and socially.
The Black Man’s Burden In the late-nineteen century, the term new imperialism became an element of politics implemented by many European powers to impose their supremacy around the globe. Between 1870 and 1914, as a result of the Great Depression (1873-1879), imperialistic powers such as Britain, France, Germany, and Belgium, constructed colonies and protectorates in Asia and Africa in order to exploit their resources and their labor . After the decline of the transatlantic slave trade by the late 1860s, a change occurred around 1880 when France and Britain led European nations in the “scramble of Africa,” which divided the continent from 1880 to 1914. Indeed, after king Leopold II of Belgium conquered most of the Congo River with the excuse of promoting
Marielle Apronti Prof. Oscar Williams AAFS 311 4 March 2018 The Trans-Atlantic slave trade was the most important factor when considering the early development of European capitalism. The arrival of the Portuguese to the West African Coast and their establishment of trading and slave ports throughout the continent set in stone a trend of exploitation of Africa 's labor and human resources. Europeans greatly benefited from the Trans-Atlantic trade, as it allowed them to aggregate raw materials such as sugar and cotton to manufacture products that funded the Industrial Revolution. In the book “Capitalism and Slavery” by Eric Williams he addresses the origin of “Negro” history, the economic and political impact of slavery in Great Britain, the role of the American Revolution and the decline of slavery in Great Britain. William’s main argument in this book is that the rise of industrial capitalism in Europe would not have been possible without the profits derived from African slave labor.
The Atlantic slave trade was a monumental event in history which has had far reaching impacts on the world. It began with the Portuguese buying slaves off of rulers in coastal West Africa in the 15th century, but the remainder of Europe was quick to follow. The slave trade lasted for over 300 years, reaching its peak in the 18th century. Over the course of these years, it is estimated that over 12 million African slaves were shipped across the Atlantic to the Americas. This large scale and lengthy slave trade brought significant political, cultural, and economic change to the societies involved.
But the lasting devastating consequences of imperialism and colonialism showed that colonialism was exploitation of the resources in the colonized territories besides degradation and abuse of indigenous people for the sake of industrialization of global market. The lasting outcomes of colonialism that persist to present day resulted in many dilemma and crisis. Bill Ashcroft et al state in The Empire Writes Back that “more than three-quarters of the people living of the world today have had their lives shaped by the experience of colonialism” (Ashcroft, 1). Conceptually, postcolonial is the term used for the period when colonies gained independence from European colonization. It was first used by historians after World War II as “post-colonial state” referring to post-independence period.
The introduction of 13th Amendment had forced whites to morally equalize human rights to apply to blacks, which had never been of equal status before. A new era of racism in America was dawning; whites struggled to survive the competitive economic market booming in the west, as well to replace deep-rooted superiority over blacks in efforts to drive the country closer toward industrialization. In this era, formerly coined as the “nadir of American race relations,” (Logan, 1954) racism in America reached morbidly new heights in the maltreatment of non-white people, which contrasted greatly with the American ideal of inalienable freedoms. The gold rush undoubtedly pressured whites to compete with both new and old opponents, beginning with
The rise of globalization was the answer to the ongoing demand of resources (Puig and Ohiocheoya). According to Guttal,“The term ‘globalization’ is used to describe a variety of economic, cultural, social, and political changes that have shaped the world over the past 50 years (Guttal). “One World, Many Peoples”, famous notation of globalization, led the continued development of the power countries, “creating new forms of colonial control in the so-called `post-colonial ' era” (Linstead and Banerjee). Since 1960, the majority of African countries are still living in a disastrous economic, political, and health condition, despite how rich their natural resources are. Those countries are under developed, politically corrupted, in deep foreign debt, and suffer from the worst diseases and plague (nsnbc.com).
Though India reportedly had the world’s largest economy during the years 1 AD and 1000 AD , due to the vagaries of history, India’s economy had plunged during British rule. Though industrialisation proceeded rapidly in Britain, the British had different policies for the regions under its rule. However the economic impact of British imperialism in India is still being debated. On the one hand, the British established a good network of railways, laid out a telegraph system for communication and established a legal system. The other view is that the infrastructure was established to facilitate the exploitation of natural resources, for example, in shipping gold, spices, and other raw materials from India to Britain and other markets.