The document summarizes the emergence of the global trade system beginning in the 15th century, driven by technological advances and Europe's desire for new trade routes and markets. It discusses how Portugal and Spain led early maritime explorations. The establishment of colonies in the Americas and trade outposts in Africa and Asia created a new global economy and exchange of goods, people, plants, animals and diseases between hemispheres. Over time, more areas became incorporated into the growing world trade system dominated by European powers. However, some regions like East Asia maintained more independence. The expansion of trade and colonization had significant social, political and economic impacts around the world and led to conflicts between European nations seeking colonial control.