British Empire - Trade

  • Created by: Willzxc
  • Created on: 16-06-18 15:43
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  • British Empire Trade
    • Industrial Revolution
      • Transformed Britain from an agrarian to an urban industrialised soviety
      • The development of an urban industrial society stimulated the export of manufactured goods
        • the decline of the rural workforce lead to the need to import more food
    • The Slave Trade
      • Provided a market for British manufactured goods
      • provided a labour force for the sugar and tobacco plantations
      • facilitated the import of raw sugar and cotton to Britain on the return leg
      • Provided rich returns which financed industrial Rev
      • Significant decline in financial returns on first 1/4 of 19th century
        • diminished slave trade
          • The need to find prosperous trade routes beyond the old slave trading patterns encouraged British Merchants to look beyond the existing Empire for new markets
      • Increasing moral argument against it
        • diminished slave trade
          • The need to find prosperous trade routes beyond the old slave trading patterns encouraged British Merchants to look beyond the existing Empire for new markets
    • Coal and Textiles
      • Coal
        • Vital for fuelling Industrial Rev
        • In 18th and 19th Centuries was one of the key factors in Britain's rise to world economic predominance
      • Textiles
        • Principal product that Britain exported
        • New production methods from late 18th century led to development of large number of factories
          • increased both production and exports
      • Development in these two areas had enormous impact of pattern of trade
        • New manufacturing techniques transformed the scale of production which reduced unit costs and stimulated exports
    • Trade with the Americas, India and the Far East
      • Latin America
        • Independence from Iberian colonial system led to trading links
        • Britain exported manufactured goods and imported food
      • America
        • Each others largest trading partner 1778-81
        • Interrupted by American Civil War
      • India
        • Provided raw materials and a market for British manufactured goods
          • Initially cotton goods but by 1900 included iron, steel and engineering products
        • India supplied jute, raw cotton, rice, tea, oil-seed, wheat and hides
      • China
        • Provided silk, tea and porcelain
    • Free Trade
      • Countries should trade with goods each has to offer for mutual benefit
      • Increased overall wealth
    • Repealing Navigation Acts
      • Sugar Act 1764 - Tax was lowered but enforced more so people ended up paying 66% more
      • Mutiny Act 1765 - British soldiers must be treated richly in colonies
      • Stamp Act 1765 - Almost all formal documents must be fixed with stamps paid for to British authorities
      • Was the next step to establishment of free trade
    • Ports
      • Singapore
        • Ships of all nationalities could dock without incurring taxes or tariffs bringing merchant ships from Malay Archipelago
        • Ships going from China to Britain could stop at Singapore and trade
        • Could acquire spices from Malay Archipelago without visiting high taxed and tariffed Dutch Ports
        • Signalled new era of imperial trade
      • Hong Kong 1842
        • British ships could unload cargo at Hong Kong avoiding import duties and then goods could be transported to other ports by inland waterways
        • Shanghai
          • In the mouth of the Yangtze river
          • Opened up the interior of China
      • Suez Canal 1875
        • Intention was colonial expansion first then economic growth
        • Colonised Egypt meant new area of production
        • Better quality of goods due to reduced travel time
        • Opened up new safe and strategic trade route
        • Focus of geographic strategy rather than trade
      • Zanzibar 1890
        • Goods could be taken from coastal traders and sent to Middle East and Africa
        • Trade relied of ivory and slaves and Zanzibar was connected to trade routes deep in Africa
        • First got involved in Zanzibar to stop slave trade and keep trade routes safe around Africa
          • Navy power allowed Britain to have greater influence
      • Lease of Weihaiwei 1898
        • Russia took over Port Arthur in China for their commercial interests
        • Britain demanded a port nearby to keep oversee developments in Port Arthur
        • Weihaiwei had no commercial value and was purely representative of Britains strategic interest in limiting Russia
          • Britain did the same in East Africa to restrict Germans from increasing their influence
            • Shows how Britain had moved away from commercial beginnings

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