3. Rank Commodity Value in US$
1 Mineral fuels, oils, distillation products, etc. $2,183,079,941
2 Electrical, electronic equipment $1,833,534,414
3 Machinery, nuclear reactors, boilers, etc. $1,763,371,813
4 Vehicles other than railway $1,076,830,856
5 Plastics and articles thereof $470,226,676
6
Optical, photo, technical, medical, etc.
apparatus
$465,101,524
7 Pharmaceutical products $443,596,577
8 Iron and steel $379,113,147
9 Organic chemicals $377,462,088
10 Pearls, precious stones, metals, coins, etc. $348,155,369
TOP TEN GLOBAL TRADE Commodities “Today”
8. CHANGE in Global Commerce
SILVER!
• Silver was THE ITEM that truly began GLOBAL
TRADE
• Chinese demand for silver and new silver
mines in Spanish America & Japan led to
global trade movement.
9.
10.
11.
12. CHANGE in Global Commerce
TRANSATLANTIC SLAVE TRADE
(esp for sugar production)
• Massive movement of people through the
slave trade from coasts of West Africa to the
Americas led by Europeans (African
supported).
• Slave trade to fill demand for labor in
plantation agriculture in the Caribbean,
Brazil, and N America.
13.
14.
15.
16.
17.
18.
19. “New” trade connections
FUR TRADE
• Luxury furs exported from Russia and North
America .
• Variety of animal furs and varieties of
peoples involved in the trade.
20.
21.
22. New trading empires
EUROPEAN TRADING POST EMPIRES
• European nation-states controlled ports and
territories in the Africa, South & Southeast
Asia
• Increasingly Europeans carried the trade
goods of maritime trade…even the routes
that had existed before European arrival
27. • Pool wealth for a common purpose
• 1500s and 1600s common purpose was
colonization
• Profits and risks were high
• If there was failure the risk was spread out
• Dutch (Indonesia) and British (India)-received
charters from the govt. granting trading
monopolies and the power to make war and
govern conquered people
Joint Stock Companies-Private
28. Economic Motives
The Commercial Revolution-16th and
17th Century Europe
• Capitalism
– An economic system based
on private (not govt.)
ownership and the
investment of wealth for
profit.
– Wealthy merchants
reinvested their profits into
new ventures
– A key role in the Industrial
Revolution
• Mercantilism
– An economic policy under
which nations sought to
increase their wealth and
power by obtaining large
amounts of gold and silver
and by selling more goods
than they bought.
– The goal was self-sufficiency
29.
30.
31. JAPAN
• After a period of contact with Europeans,
Japanese isolate themselves from outsiders
while profiting from the silver trade and
keeping “watch” on outsiders.
32. Make a map that has the main trade routes +
Oceans- Atlantic, Indian, & Pacific
Seas- Mediterranean, Caribbean, & Black
Empires- Label each separately…
–Qing (Strayer p644)
–Mughal (645)
–Ottoman (647)
–Russian (682)
–Spanish, French, Dutch, English,
Portuguese territories. (682)
33.
34.
35.
36. • Increase in economic activity leads to increase
in $ supply.
• Inflation-steady rise in the price of goods
• Occurs when people have more money to
spend and demand more goods and services
• Goods become scarce and more valuable and
prices rise
Inflation
