History of International Trade (Post-World War II (European Economic…
History of International Trade
Japan introduced a system of foreign trade licenses to prevent smuggling and piracy in 1592
Japan introduces the closed door policy regarding trade only very selective trading to the Dutch and Chinese was allowed 1639.
The first Dutch expedition left from Amsterdam to South East Asia.1595
Dutch East India Company formed in 1602. it was considered to be the first multinational and first officially listed public company
Dutch East India Company declares bankruptcy in 1799
Dutch convoys sails back in the year 1599 with products from East India. The convoy also brings in spices.(600,000 pounds).
second half of the 15th century the traditional Spice Route shifts from the Persian Gulf to the Red Sea.
Portuguese voyage to India (1497–1499) was the first to link Europe and Asia by an ocean route
During the late 18th century, the French built forts at strategic locations along the main trade routes of Canada.served as trading posts which included the Native Americans in fur trade.
19th century BCE (2000 e.a.a.) Egyptians trade across the red sea with Arabs, mainly spices + silk
India -> Arabia -> Egypt
"Incense Route" 800-300 e.a.a Linking Mediterranean world all the way up to Levant, Egypt, Arabia, India and beyond. Different textiles, jewelry, spices, rare animals parts...
Silk Road 120 e.a.a. - 1450's Linking Europe with nearly whole Asia, China wanted to expand trade routes. New thing "cultural exchange" (religions, art, ideology), The Great Wall of China
Roman Empire 29 e.a.a. - 395. Trade with India, East Africa and Pre-Islamic Arabia. Demand for "luxury goods" i.e. exotic animals
Alexandria, Damietta, Aden and Siraf
as entry ports to India and China.
The Tang Dynasty Chinese Capital
becomes the major metropolitan center for foreign trade, travel and residence.
is the China's greatest international seaport during Tang Dynasty (618-907)
During Song Dynasty (960-1279), the international seaport was
Indian exports of spices find mention in the works of
Ishak bin Imaran
Market rights as well as trading privileges were secured by Hanseatic League in England for goods in the year
In 1815, first nutmeg shipment sailed back from Europe.
In 1860, the
Free Trade Agreement
was struck between France and Britain.
Post-World War II
Bretton Woods system
The landmark system for monetary and exchange rate management
This international economic model was introduced to stop wars and depressions.
European Economic Community (EEC, 1958)
The EEC was the most significant of the three treaty organizations that were consolidated in 1967 to form the European Community
Signed by Belgium, France,
Italy, Luxembourg, the Netherlands, and West Germany (now Germany)
EEC becomes the European Union (1993)
The European Economic Area (EEA, 1994)
Unites the EU Member States and the three EEA EFTA States (Iceland, Liechtenstein, and Norway)
Formed to enable goods, services, capital, and persons to move freely in an open and competitive environment
Euro Zone (2002)
European Free Trade Association (EFTA, 1960)
Founded by Austria, Denmark, Norway, Portugal, Sweden, Switzerland and the United Kingdom, to promote closer economic cooperation and free trade in Europe.
General Agreement On Tariffs And Trade(GATT, 1947)