1. Beginning in the 12th century, Western European powers began expanding their maritime power and global trade networks, with Portugal and Spain leading early voyages of exploration along the African coast and to Asia and the Americas. 2. This period marked the beginning of a globalized world economy as crops, goods, and diseases were exchanged between hemispheres through trade and colonization. However, this also created an unequal system that benefited some regions more than others. 3. In the Americas, Western European powers established colonies that varied in their levels of control, from the more loosely governed Spanish and Portuguese colonies to the denser British and French settlements in North America. Coastal colonies were also established in parts of Asia and Africa.