World History Chapter 14 - Toward a Global Economy

Tell me about trade in the south of Europe

Italian cities (Venice) traded with Muslim traders who had goods from as far away as China

Tell me about the trade in Northern Europe

It originally happened in Fairs

When did trade in the South and North of Europe come together?

The fairs were replaced with direct shipping trade routes.

Name two advantages of having Sovereign National States arise

1. Trade competition led to innovation in sailing and trade.

2. Military competition led to stronger and organized national armies.

Why did Europeans look outward for Exploration?

1. Trade and profit

2. Spread Christianity

Why was Prince Henry the Navigator important?

He sponsored and supported explorers

What were the Portugese Trade interests in Africa?

Gold and Slaves

What is Bartolomeu Dias' contribution?

He sailed around the Cape of Good Hope (South Africa)

What is Vasco de Gama's contribution?

He sailed to India and established a trade route there.

What was Columbus looking for?

He thought sailing West would get to Asia quicker than by going around South Africa.

What did Columbus achieve?

He discovered new lands that were claimed by Spain (later recognized as a new Continent.)

What is the Treaty of Tordesillas?

The Pope divided the Atlantic lands to the West were claimed by Spain and the East were claimed by Portugal.

What impact did Ameigo Vespucci have?

His letters convinced Europeans that an new continent was discovered and it was named after him.

Hernan Cortez conquered the _______________ .

Aztecs

Francisco Pizarro conquered the ___________?

Incas

Who explored the East coast of the US for England but did not find a NW passage?

John Cabot

Who explored Canada for the French which led to French settlement and claims on Canada?

Jacques Cartier

Who explored the Hudson River for the Dutch which led to the Dutch New Amsterdam colony and Hudson Bay for England

Henry Hudson

Who led an expedition that circumnavigated the earth?

Ferdinand Megellan

Who explored the Pacific Ocean and claimed Australia, New Zeeland and Hawaii for England?

James Cook

What important resources did the Americas have?

1. Silver and Gold made Spain rich and powerful.

1. Large plantations (sugar) also generated wealth for Spain.

What was the impact on the American colonies on Native Americans?

Slavery and death from diseases.

What is the impact of Spain and Portugal?

Inflation and spending money on war led to a short lived dominance.

Which new nations started settlements in America?

England

France

the Netherlands

What were the economic reasons for the European countries to settle in America?

Piracy

Plantations

Natural Resources

What was the impact on the Native Americans?

Disease wiped out Native Americans

What is an indentured servant?

Laborer who agreed to work without pay for a certain period of time in exchange for passage to America

How did Africa get involved in the Slave trade?

It started when African kingdoms traded with Europeans.

What was the impact of the slave trade with Africa?

Positive - Wealth and New Technology

Negative - Depopulation

What is the Middle Passage?

The journey of slaves from Africa to the Americas

What is the Triangular Trade?

Europe to Africa -Finished goods for slaves

Africa to Americas - slaves for raw materials

Americas to Europe - Raw materials for finished goods

What is the Columbian Exchange?

The global transfer of foods, plants, and animals during the colonization of the Americas.

What was Portugal's Goals in gaining access to Asian Maritime Trade?

Control all trade from Asia to Europe.

What was Portugal's Strategy in gaining access to Asian Maritime Trade (3 things)?

1. Superior ships and cannons to take over land bases.

2. Establish trade outposts to manage trade

3. Build defenses.

What did the Dutch do with Asian trade?

Use diplomacy and warfare to dominate Spice Islands.

What did the British do with Asian trade?

Use diplomacy to dominate trade with the Mugal Empire in India.

How did the British dominate?

Spice demand dropped, demand for Indian products went up, which meant more wealth for British.

What was the Commercial Revolution?

Capitalism expanded, business growth, trade with new places, new colonies.

What is mercantilism?

The goal of a nation is to make money. The two strategies were favorable balance of trade and be self-sufficient (colonies).

What is capitalism?

Free enterprise and competition.

What are entrepreneurs?

People who start their own business.

What is shift in demand?

Shift of luxury goods to trade goods.