Trade and commerce
- Created by: LauraNannini
- Created on: 24-04-20 12:43
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- Topic 9
- Gold Standard
- Set the standard for international trade and all colonies had to mirror this
- By 1908 only China, Persia and a few central American countries were operating at silver standard
- Set the standard for international trade and all colonies had to mirror this
- Debates on trade and commerce
- Joseph Chamberlin was the conservative colonial secratary who convened the 1902 London Colonial conference
- They discussed creating closer economic ties in the form of an imperial customs unit
- Chamberlin believed that imperial trade was bette as it is more reliable in emergencies and would lead to greater productivity
- Shipping and manufacture companies did not agree with Chamberlin
- Companies that did trade across seas or into close allied countries believed in free trade
- Food would also increase in price which the general population were against
- The fall of imperial preference happened in 1906 and the general election rejected Chamberlins ideas
- Joseph Chamberlin was the conservative colonial secratary who convened the 1902 London Colonial conference
- Importance of colonial trade
- India provided raw cotton and tea
- South Africa and Australia provided wool and sugar
- New Zealand provided dairy products and lamb
- Canada provided beef and wheat
- West Africa provided timber cocoa rubber peanuts and palm oil
- Protectionism was the theory of shielding a countries domestic industry from foreign competition by taxing imports
- Gold Standard
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