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Economic Tie-in with Imperialism - Coggle Diagram
Economic Tie-in with Imperialism
Effect on Global Trade
Expansion of markets
markets become more competitive: competitive pricing and cheaper products
Creation of global trade networks
Exposes to goods and services that are not available in their own countries
Empires imposed their economic policies and trade standards on their colonies
Examples
How did imperial powers benefit economically?
Access to raw materials
New Market
Positive Trade Balance
Give examples of economic exploitation in colonies.
Belgian Congo
Exploitation of Natural Resources, Labour
British Raj
Commercializing agriculture
High Taxation
Destroying Industries
Exploitation of United States
Illegal Taxes
Banned from International Trade
Economic Interests
Addressing Overproduction
New investment opportunities
Extracting Resources for creation of products
Establishing Plantation Economies
Trade
Example: Portugese
The portugeuse
Industrialization
Technological development allowed countries to exert more economic power over others
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Due to increased production, Europeans increased imperialist conquest as a means of obtaining markets for goods
The Industrial Revolution led to a dramatic increase in production ability, which created a demand for raw materials like coal and cotton.