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Trade - Coggle Diagram

- - - - Chinese trade restrictions
        
        Foreign trade was heavily restricted
        
        Europeans could not leave the Canton and only licensed to deal with a small guild of merchants
      - Dutch
        
        The Dutch controlled the straits of Malacca which prevented the access that the British needed to access China
        
        Often denied or charged high tariffs for access
      - Piracy was also rampant in the region
  - - - Secured due to the opium wars with China as the chinese blocked the illegal opium trade of the BRitish into China
        
        This was an example of gunboat diplomacy
      - Secured for a good location in china and because it had a deep-water harbour
      - Allowed ocean bound ships to sail in and unload cargo and then have it distributed along the network of rivers
  - - - Construction took 10 years and went over budget massively
    - - Acted as vital route between india and Britain and allowed for trade to prosper
  - - - USed to protect the trade route between the cape and india
      - Grew in importance for African ivory and other spices grown on the island
- - - - The slave trade was extremely profitable for the slavers as well as the port cities which were enriched
      - Many of the people in these ports made money as middlemen buying and selling ships, trade goods for Africa and supplies of plantations
      - many plantations were operated from the families in some of these ports
    - - The government used the money from the taxes and tariffs to fund the navy and fight wars
      - In 1766 it was claimed upwards of 40 MPs were plantation owners or had interests in them
  - - - The Quakers launched a grass roots campaign in an attempt to end slavery
      - The first abolitionist movement happened in 1783 and won significantly when William Wilberforce was persuaded to lead a parliamentary campaign
      - They used evidence to expose the horrors of the slave trade to the public via pamphlets, posters, debates and books
      - The PM William Pitt also supported the campaign in parliament when it began in 1789
    - - Initially after the emancipation of the French slaves in Haiti, abolition became a pro-French position
      - Britain hoped to gain control of the plantations and so they voted against wilberforce
      - However in 1802 with the entrance of Napoleon and his attempts at resecuring Haiti the abolitionist were now anti-French
      - With the introduction of the Foreign Slave Trade bill in 1806 that prevented British subjects from sellingdalves to French colonies
      - Abolitionist won more seats in parliament and the Slave trade Act was passed in 1807
    - - the profitability of the slave trade became less certain with increased privateering and slave rebellions
      - 1 in 10 ships would lose its owner profit and in 1778 merchants in liverpool lost £700,000
      - The block that had held out in parliament was crumbling
  - - - The industrial revolution and abolition meant that manufactured goods made by Britain was now the basis for British economic strength rather than the raw materials that had been provided by the colonies
      - Therefore Britain needed to find new trade routes beyond the slave patterns such as the East and South America
      - Workers and productivity
        
        The success of the British economy despite the end to slavery supported the idea of workers being more productive when free and owning property than enslaved
        
        The success added to the growing argument that free trade and free labour was better than the mercantilist and protectionist system
- - - - The end of Mercantilism
        
        Mercantilism was the dominant economic theory
        
        Adam Smith Challenged this in 1776 with 'An inquiry into the Nature and Causes of the Wealth of Nations'
        
        Argued that the tariffs imposed prevented trade from operating effectively by constrainting merchants from finding the best deals
        
        Adam Smith argued that the colonies were actually a financial drain as they had to be administrated and defended
        
        By allowing the colonies to grow economically they could produce goods that were cheaper for Britain to buy as they were specialisewd
      - America and Ireland
        
        America
        
        America had hated the mercantilist trade policy and it had caused a revolution.
        
        Despite the revolution, America continued to trade and Britain was the main destination of American exports which support the free trade argument
        
        Ireland
        
        Subject to lots of tariffs to reduce competition to English landowners
        
        Ireland's economy grew but wealth was not distributed but held by a small number of Anglo-Irish protestant landowners
        
        This created anger and there was protests against mercantilism and threats of revolution
        
        In 1779 trade restriction for ireland were removed and was successful and did not cause a collapse in prices
      - These policies would mostly continue under the Tories and with laws such as the corn laws
      - It was under Robert Peel that conservative party was formed that laws representing mercantilism and protectionism were ended
      - Repeal of the Navigation acts 1849
        
        The navigation acts
        
        They meant:
        
        Colonial goods for export could only be carried on english ships
        
        Certain goods had to be shipped to an english port before being exported
        
        European imports to British colonies needed to land at an english port then be reshipped onwards
        
        They were often not tightly enforced under Salutary neglect
        
        However, after the seven years war the navy began enforcing them and it became far more stringent
        
        The navigation acts were eventually ended by 1849 by Russell's Government and it encouraged more free trade
        
        Robert Peel
        
        he abolished many of the laws such as the corn laws and sugar taxes and many were furious and Peel was forced to resign
      - Industrial Revolution
        
        The IR was a major influence on trade as politicians and industrialists viewed protectionism and trade restrictions as a hindrance to econ omic growth
        
        The tariffs made importing and exporting a hindrance and the export of machinery was barred until 1825
        
        Corn Laws 1815
        
        The Corn Laws meant that cheap food to feed the growing urban population was impossible to get while benefitting the landowners
        
        Robert Peel would be the one to repeal the laws in 1845 by using the Irish Famine to justify it despite it doing nothing
        
        The conservative party was split however as it has traditionally represented the wealthy landowning class that benefitted from the corn laws
        
        He was forced to resign and new Whig government took the place of the conservatives
        
        The argument was that with access to other countries' markets Britain would become the workshop of the world and could get unrestricted access to raw materials from other countries
        
        Coal and textiles were part of Britain rise as Britain produced 2/3 of the worlds coal and more than 1/2 of its cotton cloth by 1851
      - Trade with Americas, India and the Far East
        
        South America
        
        Britain began supplying the newly independent Latin American countries in the 1820s with manufactured goods.
        
        The countries began exporting large amounts of food and by the middle of the century 7% of British exports went to Latin America
        
        From 1870s onwards countries like Uruguay and Argentina boomed by shipping frozen meat and grain to Britain
        
        North America
        
        US
        
        In the first half of the 1800s Britain and the US remained each other largest trading partner with 40% of US imports coming from Britain
        
        The US largely exported cotton to Britain and the manufactured goods went back
        
        Canada
        
        Canada exported lots of the food with 10% of Britain's beef and 15% of Britain's wheat coming from Canada
        
        West Indies
        
        Suffered much more from free trade and abolition as the price of sugar fell as it was imported from other foreign slave plantations while the number of sugar plantations decreased
        
        India
        
        India provided a market for manufactured goods as well as provided raw materials for Britain
        
        Suez Canal in 1869 boosted trade :
        
        Far East
        
        Opium to China was a major profit centre for Britain
        
        China supplied tea, silk, porcelain to Britain as people wanted more of it