Exploring the development of global trade, this overview highlights the significance of commodities like sugar, silver, and spices in shaping international markets. From the ancient Silk Road to the Age of Discovery, trade networks have evolved, impacting economies and geopolitics. The text delves into the historical context of trade, including the rise and fall of trade routes, the role of European colonization, and the ongoing challenges faced by global commodity chains.
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Trade networks across continents were well-established during this time
European Explorers
European explorers, particularly the Portuguese and Spanish, were instrumental in forging a global marketplace
Creation of Global Commodity Chains
This period witnessed the creation of extensive global commodity chains, which laid the groundwork for the capitalist economic system
An ancient network of trade routes that connected the East and West, facilitating the exchange of goods, culture, and ideas
The Ottoman Empire's seizure of Constantinople in 1453 disrupted the traditional land routes, prompting European nations to search for maritime routes
The establishment of new sea routes diminished Venice's role in Eurasian trade
The medieval wool trade in Europe serves as an example of a localized commodity chain based on regional needs and reciprocal exchange
The colonization of new territories and establishment of trade routes primarily benefited European powers, often at the expense of indigenous peoples
Sugar
The labor-intensive nature of sugar plantations led to the exploitation of African slaves by the Portuguese
Silver
The Spanish forced indigenous people to work in mines to extract and process silver
Spices
The Portuguese, British, and Dutch empires all played a role in controlling the spice trade
Advancements in labor rights and the abolition of slavery have contributed to more equitable trade practices, but issues such as environmental sustainability and geopolitical instability still remain
00
______ commodities are exchanged on a vast scale internationally and are in demand across the globe.
Global
01
During the Age of Discovery, explorers from ______ and ______ played a key role in establishing a worldwide market.
Portuguese
Spanish
02
Silk Road purpose
Ancient trade network connecting East and West, exchanging goods, culture, ideas.
