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British domestic economy - Coggle Diagram
British domestic economy
The Cloth trade
in the Middle Ages, the production of cloth had always been small scaled and often home-based
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with increased population, more labour became available and the domestic system flourished in the first half of the 17th century
the value of exports rose from £600,000 in the 1560s to London alone exporting £1.5 million of textiles in the 1660s
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Banking and insurance
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insurance was clearly still a developing establishment but it was vital for the building of a prosperous economic system.
Impact of London
mid 17th century, London was the biggest city of Western Europe , population of 400,000
by 1700, the population increased to 575,000
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