Galleon Trade In The Philippines Essay

Before the arrival of the Spaniards in the Philippines, our ancestors had been trading with other countries such as China, Japan, India, Cambodia, Borneo and Moluccas. Products from these countries flowed into the Philippines easily. Manila became the center of commerce in the East.

The King of Spain issued a decree banning the importation of goods from China as they could be bought in the local market for competitively low prices. This, in turn, made it possible for European goods to be sold in the market for outrageously high prices. As a result, some restrictions were made regarding the prices of goods beginning in 1593. These trade restrictions led to the closure of Manila 's port to other countries. This gave rise to the monopoly of the Manila-Acapulco trade. Better known as the “Galleon

Effects of the Galleon Trade The galleon trade had its positive and negative effects. One of its good effects was that it developed an interest in the cultures of the two countries. The galleons became the means by which Hispanic culture was brought into the Philippines. Even after Mexico gained independence, Mexico and the Philippines still interacted with one another. Thus, both countries have almost identical values, traditions and lifestyles. Manila became one of the world 's great ports, serving as a focus for trade between China and Europe. The galleon trade increased the government 's revenue. Plants and animals from the Americas were introduced in the Philippines. Since the Spaniards were too engrossed in the galleon trade, the country 's natural resources were conserved for future use. In the 200 hundred years that the galleon trade existed, the life of the average Filipino did not improve. In fact, Filipino laborers and seamen were often abused. Filipinos received less pay compared to their Spanish counterparts. The travel from Manila to Acapulco made the problems of health daunting. It was not unusual for more than 100 persons to die en