The+World+Economy

The World Economy

__Main Idea: New naval and military technologies gave Western Europe the ability the begin the outward expansion.__ - Europeans developed the deep-draft, round hulled sailing ships for the Atlantic; were able to carry much more armaments. - European knowledge of gunpowder, combined with new metalworking, allowing for the creation of guns and cannons. - W. Europe forges military advantage over all other regions because of concentration on weaponry.
 * New Technology: A Key to Power**

__Main Idea: Portugal's and Spain's well-suited locations and commercial values push them to venture to other continents in search of raw markets.__ -Excitement of discovery and chance to battle Muslims, mixed with religious zeal of Spanish provides wood for the fire. -Europeans use force after Vasco de Gama in order to receive more favorable trade from the Indians. -Christopher Columbus and Ferdinand Magellan both explore in the name of Spain in order to increase national wealth.
 * Portugal and Spain Lead the Pack**

__Main Idea: Over time, northern European nations began to control the naval trade that Portugal and Spain once controlled.__ - French and English take claims in N. America, with English to the south of the french. Dutch take Cape of Good Hope. - Independant trading companies such as the East India Dutch Company acted like independent governments that fought for resources - Protestants in England build lighter ships than Catholics in Spain.
 * Northern European Expeditions**

__Main Idea: The exchange of food, diseases, and peoples allowed for important crops to be brought to Europe, with disease killing off many Native inhabitants.__ - Indigenous peoples of America died out at a rapid rate; more than 50% of them were wiped out. - The importation of cattle, horses, and livestock allowed for population growth in Europe. - Potatoes and corn become important crops are they are exported to Europe. __Main Idea: Although many European nations monopolized international trade, other empires still maintained a grip on maritime trade.__ - Europe is very involved in global trade; sometimes facilitating trade between other nations. - Defeat of Ottoman navy at the Battle of Lepanto maintains European dominance of trade. - Western traders establish bases in trade cities in order to gain advantage over other merchants/. __Main Idea: The active compettition in world trade was between European nations, and nations other than Spain began to gain control due a more stable merchant class.__ - Europeans exchanged processed goods (guns and cloth) for raw material (silver and gold), which gave them a margin for profit. - Core nations began implementing economic policies such as mercantilism to achieve a favorable balance of trade. - The trade of humans increased, expecially in Africa, and these slaves were traded in Europe for processed goods. __Main Idea: This global economy changed living conditions for civilizations all over the world.__ - Slaves imported to S.America sue to shortage of slaves. - African and Latin merchants still dependent on European goods, decreased favorable balance of trade. - Mestizos, along with native Americans, provide for labor in Latin America __Main Idea: Although new global trade networks have tied together almost all of the commercial world, some areas of the world remain untouched.__ - China prevents the adoption of Western ideals and uses the bureaucracy to control trade and naval fleet. - Japan and Korea largely isolated from global trade but Japan becomes increasing involved in this network. - Generally, most of Africa was also isolated from this network. __Main Idea: Gradually, more nations participated in global trade and expansion.__ - More and more civilizations came under the influence and control of **core nations** - European territories and colonies serve as external markets.
 * The Columbian Exchange of Disease and Food**
 * The West's Commercial Outreach**
 * Imbalances in World Trade**
 * A System of International Inequality**
 * How Much World in the World Economy?**
 * The Expansionist Trend**