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Global Commerce & Trade
1450-1750
TOP TEN GLOBAL TRADE Commodities (2013)
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 “2013”
TOP 5 Trade commodities 1450-1750?
• 5. FUR (Beaver, Deer, Sable, etc.)
• 4. TEXTILES (Cotton, Silk)
• 3. SLAVES
• 2. SUGAR & SPICES (Cinnamon, Nutmeg,
Cloves,etc)/
• 1. SILVER
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.
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.
“New” trade connections
FUR TRADE
• Luxury furs exported from Russia and North
America .
New trading empires
EUROPEAN TRADING POST EMPIRES
• European nation-states controlled ports and
territories in Africa, South & Southeast Asia
• Increasingly Europeans carried the trade
goods of maritime trade…even the routes
that had existed before European arrival
Spanish Empire 1600s
Portuguese Empire 1600s
Dutch East India Company
• 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
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
JAPAN
• After a period of contact with Europeans,
Japanese isolate themselves from outsiders
while profiting from the silver trade and
keeping “watch” on outsiders.
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)
• 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

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1450-1750 Global Commerce & Trade

  • 1. Global Commerce & Trade 1450-1750
  • 2. TOP TEN GLOBAL TRADE Commodities (2013)
  • 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 “2013”
  • 4. TOP 5 Trade commodities 1450-1750? • 5. FUR (Beaver, Deer, Sable, etc.) • 4. TEXTILES (Cotton, Silk) • 3. SLAVES • 2. SUGAR & SPICES (Cinnamon, Nutmeg, Cloves,etc)/ • 1. SILVER
  • 5.
  • 6.
  • 7.
  • 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 .
  • 20.
  • 21.
  • 22. New trading empires EUROPEAN TRADING POST EMPIRES • European nation-states controlled ports and territories in Africa, South & Southeast Asia • Increasingly Europeans carried the trade goods of maritime trade…even the routes that had existed before European arrival
  • 23.
  • 26. Dutch East India Company
  • 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.
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  • 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