Monday, December 24, 2012

Who were the beneficiaries of transatlantic trade?

The Transatlantic or Triangular Trade involved four continents: Europe, Africa, South America, and North America. The term is used to describe the trading relationships from the early seventeenth century to the late eighteenth century. This three-way trade involved the shipment of sugar, tobacco, and cotton to England from America; England exported rum, manufactured goods, and textiles to Africa, and so on.
Mercantilism was the main guiding concept for these complex trading relationships. According to mercantilism, the mother country (England) should have a trade surplus. Colonies existed both to provide raw materials to the mother country and to buy manufactured goods from the mother country. Also, the colonies should not manufacture goods or do anything that might be detrimental to the economic interests of the mother country.
Even though mercantilism was designed to maximize the mother country's benefits, many groups profited. Even African rulers who sold slaves became rich. In the colonies, the export of tobacco was crucial for their economic survival. England became wealthier. African slaves and Indians did not benefit, however. In fact, these may be the only two groups who did not profit from the trade.
England did not strictly enforce navigation rules during most of this period. Lax enforcement was a boon to colonial economic interests. However, after the end of the French and Indian War in 1763, England began to strictly enforce trade rules and levy taxes on the colonies. This change in London's attitude ultimately led to the Revolutionary War (1775–1783).

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