Grocer, Sir Thomas Lipton, received a knighthood for his efforts in buying in tea in bulk from Asia and selling it to the masses in England, transforming British culture.

6.5 E. ENC
Explain how various economic factors contributed to the development of the global economy from 1750 to 1900.

An opium den in China. Opium was first introduced to China in the 17th century, in the form of madak, a blend of opium with tobacco smoked with bamboo pipes. Countless smoking dens popped up along the Southern coastal cities and were viewed as corrupting the Chinese both morally and physically. In 1729, Qing Emperor Yongzheng banned the smoking of opium.

Historical Development

Industrialized states and businesses within those states practiced economic imperialism primarily in Asia and Latin America. Some industrialized states practiced economic imperialism such as Britain and France expanding their influence in China through the Opium Wars, and the construction of the Port of Buenos Aires with the support of British firms. Trade in some commodities was organized in a way that gave merchants and companies based in Europe and the U.S. a distinct economic advantage. Examples of commodities that contributed to European and American economic advantage were Cotton grown in South Asia and Egypt and exported to Great Britain and other European countries were opium produced in the Middle East or South Asia and exported to China, Palm oil produced in sub-Saharan Africa and exported to European countries, and copper extracted in Chile.

KEY WORDS:

Opium War
Corvée labor

Banana Republic
Cash Crop

Treaty of Nanking
Sphere of Influence

Spice Islands

6.5 E. ENC SKILL: Sourcing - Contextualization (Opium in China).mp4

.5 E. ENC SKILL: Sourcing - Contextualization (Opium in China)

Skills:

Contextualizing

GLOBAL ECONOMIC IMPERIALISM

Economic imperialism is when foreign powers have substantial power & influence over another country’s economic decision-making. In the 1800s, economic imperialism allowed industrialized American & European economies to gain significant power & influence over the economies of the non-industrialized nations. As a result, trade between America & Europe and the non-industrialized economies primarily benefited the American & European economies.

The Methods of Economic Imperialism:

Examples: The West's Economic Imperialism

The Ability to Control Global Commodities Created a European & U.S. Economic Advantage

Industrial nations’ control over certain raw materials gave them an enormous economic advantage. In the nations they directly colonized, industrial powers set up plantation systems, sometimes directly controlled by European & American multinational corporations. Independent nations with export economies, such as Argentina & Brazil, often had their natural resources owned & controlled by foreign multi-nations (their banks).